Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.020%

Price spread now: KuCoin against Popdex−0.121%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$283as in the Price arb table

costs, in and out, $10k−$2752.752% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.121%, 7d avg −0.041%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and KuCoin is 0.080% cheaper against Popdex than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2478	0.0096	pay 0.0012% / 1h	46m 18s	$56K	$497K	20x
Short	KuCoin WIFUSDTM	0.2475	−0.0028	pay 0.0014% / 4h	2h 46m	$4.5M	$12.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PopdexbpFee KuCoinbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$26.04
Price spread: −0.121% → −0.041%: −$7.98
Slippage, 4 orders: −$256.83
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$309.25
Costs to cover: 2.752%
Break-even: never at this rate

Slippage from Popdex: live order book, 23 min ago; KuCoin: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Popdex live order book, 23 min ago	34.50 bp	99.1 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.02 bp	21.3 bp −$21	75.9 bp −$759	doesn't fit	doesn't fit

WIF on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.323%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0142%	4h	0.2475	−0.121%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2476	−0.093%	$645K	$2.3M	50x	as long as short
KuCoin WIFUSDTMshort	−0.0028%	4h	0.2475	−0.121%	$4.5M	$12.9M	75x
dYdX WIF-USD	0.0000%	1h	0.2480	+0.065%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2474	−0.161%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2474	−0.146%	$800	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2480	+0.081%	$140K	$624K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2478	long leg	$56K	$497K	20x
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2475	−0.121%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2479	+0.038%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2479	+0.028%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2475	−0.126%	$18.8M	$111.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2473	−0.202%	$16.9M	$37.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2475	−0.121%	$5.9M	$34.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2475	−0.121%	$22.4M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2473	−0.202%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2473	−0.202%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2475	−0.101%	$77K	$269K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	−0.116%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2486	+0.340%	$284K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2488	+0.404%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2470	−0.323%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2474	−0.157%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2477	−0.040%	$169K	$748K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2473	−0.187%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2474	−0.178%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0176%	1h	0.2481	+0.105%	$8.0M	$4.7M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0179% / S −0.0043%	1h	0.2475	−0.130%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2479	+0.040%	$326K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2487	+0.363%	$997K	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2475	−0.136%	$0	—	15x	as long as short