Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h +0.025%

Price spread now: KuCoin against Injective−2.031%85s7-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 KuCoin

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. KuCoin is 2.031% cheaper against Injective than usual: you would sell low and buy high (spread −2.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$203 on $10k: about 26 days of funding at the current rate (+$8 a day). The two prices were read 85 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	0.2462	−0.0161	get 0.0020% / 1h	3m 49s	$10K	$11K	12x
Short	KuCoin WIFUSDTM	0.2412	0.0100	get 0.0050% / 4h	3m 49s	$3.9M	$17.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −2.031%Rate

Funding earned: $54.83
Price spread: −2.031% → 0.000%: −$203.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$160.28
Costs to cover: 0.120%
Break-even: 27.5 days

Slippage unknown: Injective: 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 Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	4.09 bp	36.7 bp −$37	81.1 bp −$811	doesn't fit	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
GMX WIF/USD [WBTC.b-USDC]	L −0.0239% / S +0.0288%	1h	0.2410	−2.126%	$19K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0165%	1h	0.2409	−2.153%	$32K	$275K	25x	as long as short
Injective WIF/USDC PERPlong	−0.0161%	1h	0.2462	long leg	$10K	$11K	12x
BloFin WIF-USDT	−0.0140%	4h	0.2414	−1.950%	$1.0M	$926K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0060%	1h	0.2411	−2.063%	$71K	$314K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2414	−1.969%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2408	−2.174%	$4K	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2412	−2.027%	$143K	$749K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2413	−1.990%	$51K	$577K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2411	−2.071%	$9.7M	$8.2M	5x	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	0.2413	−1.990%	$28K	$357K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2414	−1.942%	$76K	$77K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2412	−2.031%	$19.1M	$154.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2414	−1.954%	$16.5M	$51.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2415	−1.909%	$5.7M	$43.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2411	−2.071%	$1.2M	$9.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2413	−1.990%	$24.2M	$13.5M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2412	−2.031%	$3.9M	$17.4M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2414	−1.950%	$7.3M	$16.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2413	−1.990%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2419	−1.740%	$112K	$235K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2423	−1.571%	$274K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2438	−0.975%	$44K	$641K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2408	−2.193%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2404	−2.356%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2409	−2.132%	$559	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2408	−2.193%	$151K	$917K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2412	−2.024%	$26K	$193K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2409	−2.154%	$80K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2408	−2.193%	$323K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2411	−2.054%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0841%	1h	0.2410	−2.115%	$620K	$2.8M	50x	as long as short