WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0037%/8h= +4.0% APRnext payment +$0.05 per $10,000 · paid last 24h +0.165%

Price spread now: Kraken Futures against Backpack+0.162%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 4 days (all we have)+0.301%+$30 · spread now +0.162%, 7d avg +0.123%

Together, before fees+0.543%+$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.039% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2478	0.0100	pay 0.0013% / 1h	7m 06s	$85K	$272K	10x
Short	Kraken Futures PF_WIFUSD	0.2482	0.0137	get 0.0017% / 1h	7m 06s	$650K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Backpack. 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 BackpackbpFee Kraken FuturesbpOrdersPrice spread, now +0.162%Rate

Funding earned: $7.75
Price spread: +0.162% → +0.123%: $3.87
Slippage, 4 orders: −$55.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$64.07
Costs to cover: 0.757%
Break-even: 64.9 days

Slippage from Backpack: live order book, 56 min ago; Kraken Futures: live order book, 1 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 Backpack live order book, 56 min ago	0.20 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	10.03 bp	31.3 bp −$31	59.3 bp −$593	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
BloFin WIF-USDT	−0.0183%	4h	0.2484	+0.234%	$1.0M	$835K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2484	+0.214%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2481	+0.113%	$47K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2481	+0.128%	$802	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.331%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2483	+0.186%	$140K	$628K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2480	+0.073%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2483	+0.174%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2485	+0.260%	$77K	$57K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2482	+0.150%	$19.0M	$115.1M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2478	−0.008%	$17.0M	$38.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2480	+0.073%	$5.9M	$35.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2481	+0.113%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2481	+0.113%	$22.3M	$11.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2479	+0.032%	$4.7M	$13.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2480	+0.073%	$7.5M	$12.9M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2478	−0.008%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERPlong	+0.0100%	1h	0.2478	long leg	$85K	$272K	10x
Variational Omni WIF	+0.0100%	4h	0.2489	+0.436%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2485	+0.270%	$277K	$2.2M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2489	+0.436%	$43K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2482	+0.153%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2475	−0.129%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2481	+0.125%	$570	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2481	+0.113%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2480	+0.056%	$9K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2480	+0.073%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0137%	1h	0.2482	+0.162%	$650K	$2.3M	50x
GMX WIF/USD [WBTC.b-USDC]	L +0.0147% / S −0.0021%	1h	0.2481	+0.115%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0311%	1h	0.2484	+0.242%	$8.0M	$4.8M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2484	+0.234%	$334K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2479	+0.034%	$0	—	15x	as long as short