Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.025%

Price spread now: Bybit against Popdex−0.113%7-day average −0.046% · 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−$168as in the Price arb table

costs, in and out, $10k−$1611.609% of the position

Long on Popdex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.034%−$3 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now −0.113%, 7d avg −0.046%

Together, before fees−0.127%−$13 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: Bybit is 0.067% cheaper against Popdex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2567	0.0096	pay 0.0012% / 1h	7m 33s	$53K	$629K	20x
Short	Bybit WIFUSDT	0.2564	0.0100	get 0.0050% / 4h	1h 07m	$17.6M	$60.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.113%Rate

Funding earned: $0.84
Price spread: −0.113% → −0.046%: −$6.65
Slippage, 4 orders: −$143.51
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$166.72
Costs to cover: 1.609%
Break-even: 1396.4 days

Slippage from Popdex: live order book, 40 min ago; Bybit: live order book, 4 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, 40 min ago	1.97 bp	39.4 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.94 bp	15.4 bp −$15	34.4 bp −$344	228.2 bp −$22.8K	doesn't fit

WIF on 32 exchanges

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	−0.0389%	1h	0.2559	−0.312%	$10K	$28K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2569	+0.078%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0120% / S +0.0182%	1h	0.2570	+0.109%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2573	+0.246%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2580	+0.514%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0022%	1h	0.2576	+0.354%	$90K	$383K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2574	+0.253%	$144K	$923K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2567	long leg	$53K	$629K	20x
Orderly PERP_WIF_USDC	+0.0098%	4h	0.2578	+0.429%	$5K	$906K	10x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2565	−0.082%	$10.1M	$9.6M	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2568	+0.054%	$31K	$427K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2573	+0.232%	$80K	$99K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2564	−0.100%	$21.0M	$177.2M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2564	−0.113%	$17.6M	$60.0M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2564	−0.117%	$6.3M	$52.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2572	+0.195%	$1.2M	$13.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2564	−0.117%	$22.6M	$15.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2572	+0.195%	$3.8M	$18.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2564	−0.117%	$7.7M	$19.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2571	+0.156%	—	$27.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2565	−0.064%	$77K	$367K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2571	+0.161%	$285K	$3.4M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2568	+0.039%	$37K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2574	+0.273%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2580	+0.487%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2580	+0.506%	$161K	$1.1M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2567	−0.013%	$12K	$264K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2579	+0.458%	$86K	—	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0138%	1h	0.2581	+0.545%	$34K	$252K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2576	+0.351%	$354K	$4.1M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0556%	1h	0.2581	+0.547%	$657K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2579	+0.460%	$1	—	15x	as long as short