Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0489%/8h= +53.5% APRpaid last 24h +0.045%

Price spread now: BingX against Injective−1.680%57s7-day average — · you buy dearer than you sell

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

Long on Injective Short on BingX

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

Funding pays, the price is against you. BingX is 1.680% cheaper against Injective than usual: you would sell low and buy high (spread −1.680% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$168 on $10k: about 11 days of funding at the current rate (+$15 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WIF/USDC PERP	0.2559	−0.0389	get 0.0049% / 1h	54m 17s	$10K	$28K	12x
Short	BingX WIF-USDC	0.2516	0.0100	get 0.0050% / 4h	1h 54m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −1.680%Rate

Funding earned: $102.65
Price spread: −1.680% → 0.000%: −$168.03
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$75.41
Costs to cover: 0.100%
Break-even: 12.1 days

Slippage unknown: Injective: no order-book sample; BingX: live order book, 7 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 7 min ago	1.97 bp	22.6 bp −$23	61.2 bp −$612	355.6 bp −$35.6K	637.6 bp −$318.8K

Injective: 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 PERPlong	−0.0389%	1h	0.2559	long leg	$10K	$28K	12x
Deribit WIF_USDC-PERPETUAL	−0.0148%	1h	0.2515	−1.719%	$33K	$255K	25x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2527	−1.250%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0117% / S +0.0179%	1h	0.2519	−1.551%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2514	−1.749%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2513	−1.798%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0090%	1h	0.2519	−1.563%	$90K	$359K	10x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2514	−1.758%	$5K	$1.0M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2518	−1.610%	$139K	$878K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2516	−1.680%	$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	0.2516	−1.685%	$9.9M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2515	−1.739%	$32K	$418K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2516	−1.676%	$78K	$97K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2514	−1.775%	$20.2M	$172.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2513	−1.798%	$17.2M	$58.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2516	−1.680%	$6.2M	$51.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2514	−1.758%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2514	−1.758%	$22.4M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2514	−1.758%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2515	−1.719%	$7.6M	$19.5M	50x	as long as short
BingX WIF-USDCshort	+0.0100%	4h	0.2516	−1.680%	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2525	−1.334%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2533	−1.008%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2537	−0.860%	$36K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2509	−1.954%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2516	−1.680%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2518	−1.602%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2514	−1.742%	$9K	$263K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2515	−1.719%	$84K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2519	−1.563%	$341K	$3.9M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2515	−1.724%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0570%	1h	0.2517	−1.629%	$647K	$3.0M	50x	as long as short