Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.027%

Price spread now: Injective against KuCoin−1.358%55s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Injective

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.358% cheaper against KuCoin than usual: you would sell low and buy high (−$136 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 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	KuCoin WIFUSDTM	0.2504	0.0100	pay 0.0050% / 4h	12m 27s	$4.5M	$14.5M	75x
Short	Injective WIF/USDC PERP	0.2470	0.0033	get 0.0004% / 1h	12m 27s	$11K	$10K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −1.358%Rate

Funding earned: −$14
Price spread: −1.358% → 0.000%: −$135.78
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$161.8
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; Injective: 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 KuCoin live order book, 6 min ago	4.03 bp	25.7 bp −$26	76.2 bp −$762	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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
BloFin WIF-USDT	−0.0185%	4h	0.2498	−0.240%	$1.0M	$834K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0060%	1h	0.2498	−0.232%	$76K	$295K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2501	−0.139%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2505	+0.054%	$810	—	150x	as long as short
Injective WIF/USDC PERPshort	+0.0033%	1h	0.2470	−1.358%	$11K	$10K	12x
Lighter WIF	+0.0096%	1h	0.2503	−0.052%	$138K	$631K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2502	−0.080%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2502	−0.086%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2501	−0.105%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2505	+0.049%	$18.9M	$119.2M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2504	0.000%	$17.1M	$40.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2507	+0.120%	$6.0M	$36.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2503	−0.040%	$1.2M	$7.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2504	0.000%	$23.1M	$11.4M	50x	as long as short
KuCoin WIFUSDTMlong	+0.0100%	4h	0.2504	long leg	$4.5M	$14.5M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2507	+0.120%	$7.6M	$13.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2505	+0.040%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2494	−0.397%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2491	−0.519%	$278K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2489	−0.599%	$46K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2506	+0.080%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2496	−0.319%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2500	−0.140%	$582	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2502	−0.080%	$166K	$701K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2501	−0.107%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2506	+0.082%	$84K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0130% / S −0.0010%	1h	0.2506	+0.077%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0149%	1h	0.2507	+0.120%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0259%	1h	0.2501	−0.126%	$650K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0320%	1h	0.2509	+0.216%	$8.2M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2503	−0.040%	$331K	$2.8M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2504	+0.003%	$1	—	15x	as long as short