Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.042%

Price spread now: Injective against Binance−0.746%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.746% cheaper against Binance than usual: you would sell low and buy high (−$75 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2489	0.0100	pay 0.0050% / 4h	3h 30m	$19.2M	$107.1M	75x
Short	Injective WIF/USDC PERP	0.2470	0.0033	get 0.0004% / 1h	30m 40s	$11K	$10K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −0.746%Rate

Funding earned: −$14
Price spread: −0.746% → 0.000%: −$74.62
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$98.64
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 min ago; Injective: 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 Binance live order book, 12 min ago	2.04 bp	11.5 bp −$11	25.4 bp −$254	102.3 bp −$10.2K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Backpack WIF_USDC_PERP	−0.0321%	1h	0.2492	+0.146%	$76K	$255K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0151%	1h	0.2491	+0.098%	$49K	$289K	25x	as long as short
Gate WIF_USDT	−0.0108%	4h	0.2491	+0.098%	$1.2M	$7.1M	50x	as long as short
KuCoin WIFUSDTM	−0.0012%	4h	0.2489	+0.017%	$4.4M	$12.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2488	−0.039%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2492	+0.119%	$12K	—	150x	as long as short
Injective WIF/USDC PERPshort	+0.0033%	1h	0.2470	−0.746%	$11K	$10K	12x
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2493	+0.186%	$657K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2491	+0.098%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2490	+0.037%	$142K	$588K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2492	+0.138%	$56K	$484K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2494	+0.214%	$25K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2489	+0.021%	$77K	$51K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2489	long leg	$19.2M	$107.1M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2485	−0.159%	$17.1M	$36.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2485	−0.143%	$6.0M	$33.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2487	−0.063%	$22.4M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2487	−0.063%	$7.7M	$12.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2487	−0.063%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2487	−0.058%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2497	+0.342%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2490	+0.058%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2488	−0.023%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2492	+0.138%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2490	+0.058%	$171K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2491	+0.097%	$11K	$151K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2492	+0.118%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2491	+0.085%	$7K	—	100x	as long as short
Hyperliquid WIF	+0.0196%	1h	0.2496	+0.311%	$8.0M	$4.3M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2499	+0.419%	$336K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2492	+0.138%	$1.0M	$746K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2489	+0.022%	$0	—	15x	as long as short