Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.042%

Price spread now: MEXC against Injective+2.171%115s7-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 MEXC

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 +$2 a day on $10k at the current rate, and MEXC is 2.171% dearer against Injective than usual: you sell high and buy low: +$217 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 115 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	0.2395	0.0033	pay 0.0004% / 1h	45m 32s	$10K	$10K	12x
Short	MEXC WIF_USDT	0.2447	0.0100	get 0.0050% / 4h	45m 32s	$22.2M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +2.171%Rate

Funding earned: $14
Price spread: +2.171% → 0.000%: $217.12
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: $227.1
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: 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 MEXC live order book, 3 min ago	2.05 bp	8.0 bp −$8	19.4 bp −$194	82.9 bp −$8,292	131.2 bp −$65.6K

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
Backpack WIF_USDC_PERP	−0.0402%	1h	0.2448	+2.230%	$73K	$249K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2448	+2.200%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2452	+2.380%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2454	+2.445%	$15K	—	150x	as long as short
Injective WIF/USDC PERPlong	+0.0033%	1h	0.2395	long leg	$10K	$10K	12x
KuCoin WIFUSDTM	+0.0038%	4h	0.2448	+2.213%	$4.3M	$11.4M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2452	+2.380%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2449	+2.242%	$138K	$562K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2446	+2.129%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2451	+2.326%	$7.6M	$4.0M	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	0.2449	+2.245%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2448	+2.227%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2447	+2.172%	$18.3M	$103.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2447	+2.171%	$16.8M	$35.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2446	+2.129%	$6.1M	$32.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2448	+2.213%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2447	+2.171%	$22.2M	$10.8M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2448	+2.213%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2448	+2.213%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2462	+2.806%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2448	+2.212%	$278K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2445	+2.088%	$43K	$621K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2449	+2.255%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2451	+2.338%	$561	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2447	+2.171%	$169K	$732K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2446	+2.132%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2450	+2.296%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2453	+2.434%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2453	+2.422%	$332K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0318%	1h	0.2453	+2.440%	$642K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2446	+2.129%	$995K	$729K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2446	+2.137%	$0	—	15x	as long as short