Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.103%

Price spread now: Variational Omni against Backpack+1.502%7-day average +0.032% · you sell dearer than you buy

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

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.533%+$53 on $10k

Price spread, last 4 days (all we have)−0.330%−$33 · spread now +1.502%, 7d avg +0.032%

Together, before fees+0.203%+ Points / potential airdropVariational Omni: Active · farm board+$20 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: Variational Omni is 1.470% dearer against Backpack than usual: you sell high and buy low, +$147 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2476	0.0100	pay 0.0013% / 1h	54m 01s	$78K	$328K	10x
Short	Variational Omni WIF	0.2513	0.0100	get 0.0050% / 4h	3h 54m	$74K	$364K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +1.502%Rate

Funding earned: $0
Price spread: +1.502% → +0.032%: $146.97
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $136.97
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Backpack: live order book, 44 min ago; Variational Omni: RFQ quote, 30 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 Backpack live order book, 44 min ago	0.20 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 30 min ago	7.97 bp	doesn't fit	31.9 bp −$319	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
Gate WIF_USDT	−0.0680%	4h	0.2473	−0.117%	$1.3M	$11.1M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0291% / S +0.0298%	1h	0.2480	+0.148%	$19K	—	100x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2499	+0.933%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2476	−0.013%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2475	−0.023%	$4K	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2480	+0.170%	$145K	$806K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2479	+0.125%	$53K	$579K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2478	+0.085%	$6K	$1.1M	10x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2474	−0.077%	$10.0M	$8.9M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2479	+0.119%	$41K	$406K	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	0.2474	−0.073%	$77K	$84K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2479	+0.119%	$19.6M	$164.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2478	+0.085%	$17.2M	$54.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2474	−0.077%	$5.9M	$47.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2475	−0.036%	$24.6M	$15.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2477	+0.044%	$3.9M	$17.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2477	+0.044%	$7.5M	$18.1M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2483	+0.287%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERPlong	+0.0100%	1h	0.2476	long leg	$78K	$328K	10x
Variational Omni WIFshort	+0.0100%	4h	0.2513	+1.502%	$74K	$364K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2493	+0.690%	$279K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2486	+0.408%	$34K	$652K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2474	−0.077%	$1K	$3.3M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2478	+0.089%	$575	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2472	−0.158%	$153K	$943K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2475	−0.035%	$10K	$211K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2478	+0.097%	$83K	—	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0153%	1h	0.2479	+0.125%	$33K	$274K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2482	+0.246%	$328K	$3.7M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2480	+0.166%	$10K	$27K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2476	−0.012%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0746%	1h	0.2479	+0.125%	$638K	$2.9M	50x	as long as short