Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.048%

Price spread now: GMX against Gate+0.314%7-day average — · you sell dearer than you buy

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

Long on Gate 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

The price spread pays, funding is against you. GMX is 0.314% dearer against Gate than usual: you sell high and buy low (spread +0.314% now, against zero (this spread has no 7-day history yet)): +$31 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 8.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2535	0.0100	pay 0.0050% / 4h	3h 23m	$1.2M	$8.3M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2543	L +0.0114% / S +0.0020%	pay 0.0002% / 1h	23m 36s	$9K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.314%Rate

Funding earned: −$25.11
Price spread: +0.314% → 0.000%: $31.4
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$20.71
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	3.90 bp	26.1 bp −$26	60.4 bp −$604	89.2 bp −$8,919	doesn't fit
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
BloFin WIF-USDT	−0.0190%	4h	0.2549	+0.552%	$1.1M	$907K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2538	+0.100%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2539	+0.158%	$39K	$263K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2543	+0.328%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.789%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2540	+0.205%	$145K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2533	−0.079%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2536	+0.048%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2537	+0.071%	$78K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2536	+0.048%	$20.2M	$128.4M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2534	−0.039%	$17.4M	$42.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2536	+0.039%	$6.1M	$38.8M	50x	as long as short
Gate WIF_USDTlong	+0.0100%	4h	0.2535	long leg	$1.2M	$8.3M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2535	0.000%	$23.5M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2537	+0.079%	$4.3M	$15.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2534	−0.039%	$7.8M	$14.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2539	+0.158%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2538	+0.110%	$78K	$304K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2551	+0.632%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2568	+1.302%	$294K	$2.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2561	+1.026%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2542	+0.276%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2539	+0.158%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2540	+0.185%	$593	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2543	+0.316%	$168K	$735K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2535	+0.012%	$12K	$136K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	+0.239%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0114% / S +0.0020%	1h	0.2543	+0.314%	$9K	—	100x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2543	+0.316%	$362K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0362%	1h	0.2540	+0.198%	$662K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2544	+0.356%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0586%	1h	0.2545	+0.398%	$8.5M	$5.2M	5x	as long as short