Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +3.821%

Price spread now: KuCoin against GMX+0.064%7-day average — · you sell dearer than you buy

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

Long on GMX Short on KuCoin

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. KuCoin is 0.064% dearer against GMX than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2536	L +0.0110% / S +0.0022%	pay 0.0014% / 1h	14m 02s	$9K	—	100x
Short	KuCoin WIFUSDTM	0.2538	0.0100	get 0.0050% / 4h	3h 14m	$4.3M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$2.05
Price spread: +0.064% → 0.000%: $6.39
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.66
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	3.95 bp	25.4 bp −$25	59.3 bp −$593	doesn't fit	doesn't fit

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	−0.0195%	4h	0.2545	+0.340%	$1.1M	$907K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2538	+0.046%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2537	+0.024%	$35K	$267K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2536	−0.003%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.734%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2540	+0.158%	$146K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2539	+0.103%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2540	+0.129%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2539	+0.123%	$79K	$67K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2538	+0.055%	$20.1M	$129.7M	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	0.2533	−0.125%	$17.4M	$43.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2536	−0.015%	$6.1M	$39.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2539	+0.103%	$1.2M	$8.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2540	+0.143%	$23.6M	$11.6M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2538	+0.064%	$4.3M	$15.4M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2535	−0.054%	$7.7M	$14.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2539	+0.103%	—	$23.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2538	+0.056%	$76K	$306K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2550	+0.539%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2548	+0.458%	$283K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2550	+0.537%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2537	+0.024%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2535	−0.054%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2537	+0.044%	$589	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2535	−0.054%	$167K	$737K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2535	−0.063%	$12K	$114K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2537	+0.011%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0110% / S +0.0022%	1h	0.2536	long leg	$9K	—	100x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2542	+0.222%	$337K	$3.1M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0362%	1h	0.2541	+0.168%	$664K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2538	+0.067%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0692%	1h	0.2545	+0.332%	$8.6M	$5.3M	5x	as long as short