Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0458%/8h= −50.1% APRpaid last 24h −0.190%

Price spread now: Variational Omni against Reya−0.022%55s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Variational Omni is 0.022% cheaper against Reya than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WIFRUSDPERP	0.2533	0.0558	pay 0.0070% / 1h	41m 30s	$1	—	15x
Short	Variational Omni WIF	0.2532	0.0100	get 0.0050% / 4h	41m 30s	$74K	$193K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. 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 ReyabpFee Variational OmnibpOrdersPrice spread, now −0.022%Rate

Funding earned: −$96.11
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$104.31
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 48 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 48 min ago	8.15 bp	doesn't fit	28.5 bp −$285	doesn't fit	doesn't fit

Reya: 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
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−2.786%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2536	+0.136%	$998K	$961K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0045% / S +0.0248%	1h	0.2532	−0.009%	$20K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2536	+0.155%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2532	−0.022%	$34K	$273K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2532	−0.008%	$354	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2536	+0.140%	$145K	$705K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2534	+0.057%	$54K	$575K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2535	+0.116%	$8.9M	$6.8M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2533	+0.032%	$31K	$351K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2535	+0.082%	$79K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2534	+0.057%	$19.2M	$147.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2532	−0.006%	$16.9M	$48.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2533	+0.017%	$5.8M	$43.6M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2534	+0.057%	$1.2M	$9.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2536	+0.136%	$22.7M	$12.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2533	+0.017%	$4.3M	$16.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2536	+0.136%	$7.7M	$16.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2534	+0.057%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2526	−0.251%	$74K	$303K	10x	as long as short
Variational Omni WIFshort	+0.0100%	4h	0.2532	−0.022%	$74K	$193K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2544	+0.458%	$282K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2544	+0.452%	$47K	$637K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2532	−0.022%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2526	−0.259%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2531	−0.062%	$576	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2525	−0.299%	$161K	$916K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2536	+0.129%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2532	−0.041%	$84K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2534	+0.057%	$343K	$3.4M	50x	as long as short
Reya WIFRUSDPERPlong	+0.0558%	1h	0.2533	long leg	$1	—	15x
Kraken Futures PF_WIFUSD	+0.0800%	1h	0.2533	+0.014%	$661K	$2.7M	50x	as long as short