Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0471%/8h= +51.5% APRpaid last 24h +0.007%

Price spread now: Kraken Futures against Bitget+0.162%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$760.758% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.162%, 7d avg +0.007%

Together, before fees−0.187%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.154% dearer against Bitget than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.007%. Mind the row above: over the last 7 days funding on this pair cost −0.142%, 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 -0.142% in total (about -7.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WIFUSDT	0.2510	0.0100	pay 0.0050% / 4h	1h 50m	$7.6M	$19.5M	50x
Short	Kraken Futures PF_WIFUSD	0.2514	0.0571	get 0.0071% / 1h	50m 39s	$645K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.162%Rate

Funding earned: $98.83
Price spread: +0.162% → +0.007%: $15.43
Slippage, 4 orders: −$53.84
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $38.41
Costs to cover: 0.758%
Break-even: 4.3 days

Slippage from Bitget: live order book, 1 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 Bitget live order book, 1 min ago	1.99 bp	15.5 bp −$15	29.6 bp −$296	118.5 bp −$11.8K	doesn't fit
Sell Kraken Futures live order book, 1 min ago	5.96 bp	21.3 bp −$21	57.6 bp −$576	doesn't fit	doesn't fit

WIF on 32 exchanges

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	−0.0389%	1h	0.2559	+1.952%	$10K	$28K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2517	+0.279%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0117% / S +0.0179%	1h	0.2516	+0.253%	$9K	—	100x	as long as short
Backpack WIF_USDC_PERP	−0.0012%	1h	0.2511	+0.044%	$85K	$363K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2514	+0.176%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2514	+0.159%	$33K	$255K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2516	+0.222%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2513	+0.120%	$5K	$1.0M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2511	+0.056%	$139K	$878K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2516	+0.239%	$53K	$634K	20x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2509	−0.024%	$9.9M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2512	+0.089%	$32K	$420K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2512	+0.094%	$78K	$97K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2509	−0.040%	$20.1M	$172.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2509	−0.040%	$17.2M	$58.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2509	−0.040%	$6.2M	$50.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2512	+0.080%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2511	+0.040%	$22.4M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2512	+0.080%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2510	long leg	$7.6M	$19.5M	50x
BingX WIF-USDC	+0.0100%	4h	0.2512	+0.080%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2525	+0.592%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2515	+0.180%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2518	+0.319%	$36K	$647K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2511	+0.040%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2512	+0.096%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2510	0.000%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2511	+0.026%	$9K	$263K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2513	+0.135%	$84K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2522	+0.478%	$341K	$3.9M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2513	+0.105%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0571%	1h	0.2514	+0.162%	$645K	$3.0M	50x