Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: OKX against Orderly+0.081%50s7-day average +0.036% · you sell dearer than you buy

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

Long on Orderly Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 3 days (all we have)−0.137%−$14 · spread now +0.081%, 7d avg +0.036%

Together, before fees−0.051%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.045% dearer against Orderly than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.036%. The two prices were read 50 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	Orderly PERP_WIF_USDC	0.2465	0.0100	pay 0.0050% / 4h	2h 16m	$5K	$1.3M	10x
Short	OKX WIF-USDT-SWAP	0.2467	0.0100	get 0.0050% / 4h	2h 16m	$5.8M	$34.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Orderly. 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 OrderlybpFee OKXbpOrdersPrice spread, now +0.081%Rate

Funding earned: $0
Price spread: +0.081% → +0.036%: $4.47
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$11.52
Costs to cover: 0.160%
Break-even: 19213.2 days

Slippage unknown: Orderly: no order-book sample; OKX: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	2.03 bp	15.1 bp −$15	42.9 bp −$429	doesn't fit	doesn't fit

Orderly: 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 31 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 PERP	−0.0783%	1h	0.2470	+0.203%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2467	+0.097%	$640K	$2.3M	50x	as long as short
Backpack WIF_USDC_PERP	−0.0020%	1h	0.2462	−0.105%	$80K	$273K	10x	as long as short
Gate WIF_USDT	−0.0002%	4h	0.2464	−0.041%	$1.2M	$7.5M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2465	−0.019%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2465	0.000%	$48K	$266K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2462	−0.108%	$796	—	150x	as long as short
KuCoin WIFUSDTM	+0.0074%	4h	0.2466	+0.041%	$4.5M	$13.1M	75x	as long as short
Lighter WIF	+0.0096%	1h	0.2464	−0.037%	$139K	$626K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2467	+0.081%	$57K	$496K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2465	long leg	$5K	$1.3M	10x
Aster WIFUSDT	+0.0100%	4h	0.2467	+0.066%	$35K	$278K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2464	−0.024%	$76K	$54K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2467	+0.086%	$18.8M	$112.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2465	+0.020%	$17.0M	$38.3M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2467	+0.081%	$5.8M	$34.8M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2463	−0.081%	$22.0M	$11.1M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2462	−0.122%	$7.5M	$12.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2464	−0.041%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	+0.407%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2477	+0.487%	$280K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2474	+0.365%	$43K	$628K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2459	−0.243%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2465	+0.020%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2460	−0.203%	$166K	$732K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2461	−0.147%	$8K	$158K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2465	+0.011%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0170% / S −0.0036%	1h	0.2463	−0.095%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0211%	1h	0.2470	+0.195%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2466	+0.041%	$324K	$2.5M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2458	−0.282%	$0	—	15x	as long as short