Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.012%

Price spread now: Orderly against Popdex0.000%7-day average −0.040% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Popdex Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.044%−$4 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now 0.000%, 7d avg −0.040%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.040% dearer against Popdex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2560	0.0096	pay 0.0012% / 1h	55m 07s	$51K	$534K	20x
Short	Orderly PERP_WIF_USDC	0.2560	0.0100	get 0.0050% / 4h	3h 55m	$5K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.84
Price spread: 0.000% → −0.040%: $3.97
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$7.59
Costs to cover: 0.124%
Break-even: 70.2 days

Slippage unknown: Popdex: live order book, 64 min ago; Orderly: no order-book sample. Net counts fees only.

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, 64 min ago	6.04 bp	78.3 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin WIF-USDT	−0.0212%	4h	0.2561	+0.039%	$1.0M	$909K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2559	−0.057%	$16K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2559	−0.026%	$827	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2542	−0.703%	$11K	$10K	12x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2560	long leg	$51K	$534K	20x
Aster WIFUSDT	+0.0100%	4h	0.2560	0.000%	$36K	$299K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2559	−0.028%	$79K	$62K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2561	+0.036%	$19.7M	$123.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2561	+0.039%	$17.5M	$41.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2563	+0.117%	$6.2M	$38.3M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WIF_USDT	+0.0100%	4h	0.2558	−0.078%	$1.2M	$7.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2562	+0.078%	$23.6M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2559	−0.039%	$4.5M	$14.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2563	+0.117%	$7.8M	$13.9M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2561	+0.039%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2562	+0.070%	$79K	$302K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2556	−0.174%	$95K	$83K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2538	−0.843%	$288K	$2.4M	10x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2560	0.000%	$5K	$1.3M	10x
SunX WIF-USDT	+0.0100%	4h	0.2555	−0.195%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2559	−0.039%	$592	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2558	−0.078%	$170K	$711K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2557	−0.106%	$10K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2560	−0.004%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0124% / S −0.0006%	1h	0.2559	−0.023%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0141%	1h	0.2559	−0.039%	$46K	$256K	25x	as long as short
Lighter WIF	+0.0280%	1h	0.2561	+0.031%	$140K	$628K	10x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2567	+0.273%	$349K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0359%	1h	0.2560	+0.002%	$662K	$2.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2557	−0.114%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0562%	1h	0.2566	+0.246%	$8.4M	$5.0M	5x	as long as short
ApeX Omni WIFUSDT	+0.0833%	1h	0.2535	−0.977%	$46K	$624K	25x	as long as short