Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0705%/8h= +77.2% APRpaid last 24h −0.014%

Price spread now: Kraken Futures against BingX+0.271%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$950.948% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.271%, 7d avg +0.106%

Together, before fees−0.167%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Kraken Futures is 0.165% dearer against BingX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.106%. Mind the row above: over the last 7 days funding on this pair cost −0.169%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.169% in total (about -8.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDC	0.2513	0.0100	pay 0.0050% / 4h	35m 44s	—	$2.3M	—
Short	Kraken Futures PF_WIFUSD	0.2520	0.0805	get 0.0101% / 1h	35m 44s	$656K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.271%Rate

Funding earned: $147.96
Price spread: +0.271% → +0.106%: $16.52
Slippage, 4 orders: −$74.79
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $69.69
Costs to cover: 0.948%
Break-even: 3.7 days

Slippage from BingX: live order book, 12 min ago; Kraken Futures: live order book, 3 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 BingX live order book, 12 min ago	2.00 bp	19.8 bp −$20	55.7 bp −$557	288.0 bp −$28.8K	471.7 bp −$235.8K
Sell Kraken Futures live order book, 3 min ago	11.88 bp	22.0 bp −$22	51.5 bp −$515	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
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−2.029%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2519	+0.239%	$999K	$956K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0073% / S +0.0254%	1h	0.2519	+0.242%	$20K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2515	+0.099%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2518	+0.212%	$352	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2520	+0.267%	$144K	$705K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2515	+0.080%	$54K	$575K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2522	+0.354%	$8.8M	$6.9M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2519	+0.238%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2519	+0.222%	$78K	$73K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2519	+0.235%	$19.2M	$147.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2516	+0.135%	$16.8M	$48.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2516	+0.119%	$5.7M	$43.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2519	+0.239%	$1.2M	$9.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2517	+0.159%	$22.5M	$12.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2519	+0.239%	$4.3M	$17.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2518	+0.199%	$7.7M	$16.1M	50x	as long as short
BingX WIF-USDClong	+0.0100%	4h	0.2513	long leg	—	$2.3M	—
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2518	+0.199%	$74K	$304K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2519	+0.219%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2524	+0.439%	$280K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2534	+0.836%	$46K	$636K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2520	+0.279%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2516	+0.119%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2518	+0.199%	$575	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2511	−0.080%	$160K	$916K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2516	+0.131%	$12K	$176K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2516	+0.132%	$84K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0147%	1h	0.2521	+0.318%	$33K	$273K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2519	+0.239%	$338K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2516	+0.120%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0805%	1h	0.2520	+0.271%	$656K	$2.7M	50x