Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0213%/8h= +23.4% APRpaid last 24h +3.788%

Price spread now: Orderly against GMX+0.069%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and Orderly is 0.069% dearer against GMX than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2534	L −0.0118% / S +0.0180%	get 0.0015% / 1h	48m 10s	$9K	—	100x
Short	Orderly PERP_WIF_USDC	0.2536	0.0096	get 0.0048% / 4h	1h 48m	$5K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.069%Rate

Funding earned: $44.82
Price spread: +0.069% → 0.000%: $6.91
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $33.72
Costs to cover: 0.180%
Break-even: 1.7 days

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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 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	+0.977%	$10K	$28K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2524	−0.404%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L −0.0118% / S +0.0180%	1h	0.2534	long leg	$9K	—	100x
dYdX WIF-USD	0.0000%	1h	0.2524	−0.388%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2536	+0.069%	$34K	$254K	25x	as long as short
Backpack WIF_USDC_PERP	+0.0001%	1h	0.2534	+0.002%	$87K	$363K	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2535	+0.030%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDCshort	+0.0096%	4h	0.2536	+0.069%	$5K	$1.0M	10x
Lighter WIF	+0.0096%	1h	0.2537	+0.109%	$141K	$879K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2527	−0.286%	$54K	$633K	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	0.2536	+0.053%	$10.0M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2536	+0.058%	$32K	$420K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2524	−0.395%	$78K	$98K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2536	+0.058%	$20.4M	$173.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2535	+0.030%	$17.3M	$58.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2536	+0.069%	$6.2M	$51.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2536	+0.069%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2535	+0.030%	$22.6M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2534	−0.010%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2536	+0.069%	$7.7M	$19.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2537	+0.109%	—	$27.6M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2512	−0.884%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2515	−0.778%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2515	−0.760%	$36K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2532	−0.089%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2535	+0.010%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2520	−0.562%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2534	−0.023%	$9K	$259K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2535	+0.030%	$85K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2531	−0.128%	$343K	$4.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2513	−0.853%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0566%	1h	0.2536	+0.086%	$651K	$3.0M	50x	as long as short