Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0375%/8h= −41.1% APRpaid last 24h −0.059%

Price spread now: GMX against BingX−0.335%7-day average — · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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 −$11 a day on $10k at the current rate, and GMX is 0.335% cheaper against BingX than usual: you would sell low and buy high (−$34 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	BingX WIF-USDC	0.2527	0.0100	pay 0.0050% / 4h	15m 46s	—	$2.3M	—
Short	GMX WIF/USD [WBTC.b-USDC]	0.2519	L −0.0176% / S +0.0275%	pay 0.0034% / 1h	15m 46s	$20K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$78.75
Price spread: −0.335% → 0.000%: −$33.52
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$134.27
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 8 min ago; GMX: 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 BingX live order book, 8 min ago	2.00 bp	21.2 bp −$21	66.3 bp −$663	300.9 bp −$30.1K	576.1 bp −$288.1K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
GMX WIF/USD [WBTC.b-USDC]short	L −0.0176% / S +0.0275%	1h	0.2519	−0.335%	$20K	—	100x
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−2.572%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2516	−0.435%	$1.0M	$953K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2517	−0.376%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2520	−0.277%	$33K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2519	−0.301%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0018%	1h	0.2517	−0.388%	$76K	$310K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2521	−0.230%	$144K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2519	−0.317%	$54K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2530	+0.107%	$8.8M	$6.9M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2527	+0.007%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2517	−0.389%	$78K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2528	+0.038%	$19.4M	$149.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2528	+0.040%	$16.9M	$49.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2528	+0.040%	$5.7M	$44.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2527	0.000%	$1.2M	$9.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2528	+0.040%	$22.7M	$12.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2526	−0.040%	$4.2M	$17.1M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2528	+0.040%	$7.7M	$16.3M	50x	as long as short
BingX WIF-USDClong	+0.0100%	4h	0.2527	long leg	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2517	−0.391%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2508	−0.754%	$283K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2513	−0.554%	$45K	$641K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2520	−0.277%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2515	−0.475%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2519	−0.317%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2513	−0.554%	$159K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2526	−0.044%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2518	−0.351%	$84K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2522	−0.198%	$334K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2517	−0.402%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0804%	1h	0.2520	−0.265%	$656K	$2.7M	50x	as long as short