Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0282%/8h= −30.8% APRpaid last 24h +0.046%

Price spread now: BloFin against Popdex−0.240%100s7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1381.381% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.206%+$21 on $10k

Price spread, last 4 days (all we have)+0.288%+$29 · spread now −0.240%, 7d avg −0.031%

Together, before fees+0.494%+$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and BloFin is 0.209% cheaper against Popdex than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.031%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.206%, so the current rate has only just turned against you. The two prices were read 100 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	Popdex WIFUSDT	0.2500	0.0096	pay 0.0012% / 1h	13m 22s	$57K	$497K	20x
Short	BloFin WIF-USDT	0.2494	−0.0186	pay 0.0093% / 4h	13m 22s	$1.0M	$833K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Popdex. 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 PopdexbpFee BloFinbpOrdersPrice spread, now −0.240%Rate

Funding earned: −$59.14
Price spread: −0.240% → −0.031%: −$20.88
Slippage, 4 orders: −$119.75
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$218.17
Costs to cover: 1.381%
Break-even: never at this rate

Slippage from Popdex: live order book, 45 min ago; BloFin: live order book, 19 min ago.

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 Popdex live order book, 45 min ago	6.04 bp	78.3 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 19 min ago	2.01 bp	11.0 bp −$11	27.5 bp −$275	89.0 bp −$8,899	doesn't fit

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-USDTshort	−0.0186%	4h	0.2494	−0.240%	$1.0M	$833K	75x
Backpack WIF_USDC_PERP	−0.0073%	1h	0.2490	−0.388%	$76K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2499	−0.059%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2500	+0.013%	$808	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.200%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2498	−0.068%	$138K	$631K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2500	long leg	$57K	$497K	20x
Aster WIFUSDT	+0.0100%	4h	0.2498	−0.067%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2499	−0.045%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2501	+0.040%	$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	0.2498	−0.072%	$17.0M	$40.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2499	−0.040%	$6.0M	$36.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2499	−0.040%	$1.2M	$7.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2500	0.000%	$23.1M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2499	−0.040%	$4.5M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2500	0.000%	$7.6M	$13.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2499	−0.040%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2494	−0.237%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2491	−0.360%	$278K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2489	−0.440%	$46K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2501	+0.040%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2487	−0.520%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2492	−0.340%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2490	−0.400%	$165K	$701K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2499	−0.047%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2491	−0.358%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0130% / S −0.0010%	1h	0.2500	−0.001%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2492	−0.320%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2493	−0.280%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0319%	1h	0.2505	+0.196%	$8.2M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2493	−0.280%	$330K	$2.8M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2500	−0.016%	$0	—	15x	as long as short