Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0350%/8h= −38.3% APRpaid last 24h −0.056%

Price spread now: GMX against SunX+0.170%7-day average — · you sell dearer than you buy

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. GMX is 0.170% dearer against SunX than usual: you sell high and buy low (spread +0.170% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2446	0.0100	pay 0.0050% / 4h	1h 48m	$2K	$3.1M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2450	L +0.0061% / S +0.0250%	pay 0.0031% / 1h	48m 21s	$21K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now +0.170%Rate

Funding earned: −$73.48
Price spread: +0.170% → 0.000%: $17.05
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$76.43
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; GMX: 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 SunX live order book, 9 min ago	34.70 bp	91.5 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Injective WIF/USDC PERP	−0.0467%	1h	0.2454	+0.327%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2442	−0.164%	$975K	$921K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2458	+0.473%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2450	+0.164%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2450	+0.180%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0061% / S +0.0250%	1h	0.2450	+0.170%	$21K	—	100x
Backpack WIF_USDC_PERP	+0.0078%	1h	0.2446	+0.004%	$73K	$293K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2452	+0.237%	$142K	$700K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2451	+0.204%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2455	+0.368%	$8.5M	$6.4M	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	0.2451	+0.187%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2455	+0.358%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2450	+0.164%	$18.6M	$142.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2450	+0.164%	$16.5M	$47.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2449	+0.123%	$5.5M	$41.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2451	+0.204%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2453	+0.286%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2451	+0.204%	$4.1M	$16.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2449	+0.123%	$7.4M	$15.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2452	+0.245%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.037%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2447	+0.042%	$277K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2435	−0.450%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2450	+0.164%	$5K	$1.1M	10x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2446	long leg	$2K	$3.1M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2450	+0.155%	$562	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2446	0.000%	$149K	$882K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2449	+0.116%	$10K	$157K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2449	+0.123%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0348%	1h	0.2451	+0.211%	$626K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2453	+0.286%	$324K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2453	+0.270%	$0	—	15x	as long as short