Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0883%/8h= +96.6% APRpaid last 24h +0.019%

Price spread now: Bybit against Injective+0.121%68s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bybit

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 +$26 a day on $10k at the current rate, and Bybit is 0.121% dearer against Injective than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 68 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	0.2470	−0.0783	get 0.0098% / 1h	46m 12s	$11K	$10K	12x
Short	Bybit WIFUSDT	0.2473	0.0100	get 0.0050% / 4h	2h 46m	$16.9M	$37.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.121%Rate

Funding earned: $185.35
Price spread: +0.121% → 0.000%: $12.15
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $186.48
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	4.04 bp	15.9 bp −$16	36.5 bp −$365	234.8 bp −$23.5K	doesn't fit

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 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
Injective WIF/USDC PERPlong	−0.0783%	1h	0.2470	long leg	$11K	$10K	12x
Gate WIF_USDT	−0.0142%	4h	0.2474	+0.162%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2476	+0.230%	$645K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0028%	4h	0.2473	+0.121%	$4.5M	$12.9M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2480	+0.389%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2474	+0.162%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2474	+0.177%	$800	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2476	+0.239%	$140K	$624K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2478	+0.324%	$56K	$497K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2475	+0.202%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2478	+0.309%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2479	+0.352%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2475	+0.195%	$18.8M	$111.5M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2473	+0.121%	$16.9M	$37.9M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2475	+0.202%	$5.9M	$34.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2474	+0.162%	$22.3M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2473	+0.121%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2474	+0.162%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2472	+0.073%	$77K	$269K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	+0.207%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2486	+0.665%	$284K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2488	+0.729%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2470	0.000%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2474	+0.166%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2470	0.000%	$169K	$748K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2473	+0.136%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2474	+0.145%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0173%	1h	0.2478	+0.340%	$8.0M	$4.7M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0179% / S −0.0043%	1h	0.2475	+0.193%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2479	+0.364%	$326K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2487	+0.688%	$997K	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2475	+0.187%	$0	—	15x	as long as short