Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.017%

Price spread now: tradeXYZ against edgeX−0.066%46s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

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

costs, in and out, $10k−$490.489% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 4 days (all we have)+0.421%+$42 · spread now −0.066%, 7d avg −0.018%

Together, before fees+0.531%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.049% cheaper against edgeX than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.018%). If the spread goes back, that is −$5 on $10k: about 5.6 days of funding at the current rate (+$1 a day). The two prices were read 46 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	edgeX WDCUSDC	443.31	0.0021	pay 0.0010% / 4h	30m 43s	$49K	$230K	10x
Short	tradeXYZ xyz:WDC	443.02	0.0050	get 0.0006% / 1h	30m 43s	$2.3M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against edgeX. 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 edgeXbpFee tradeXYZbpOrdersPrice spread, now −0.066%Rate

Funding earned: $6.12
Price spread: −0.066% → −0.018%: −$4.86
Slippage, 4 orders: −$21.95
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$47.68
Costs to cover: 0.489%
Break-even: 61.5 days

Slippage from edgeX: live order book, 6 min ago; tradeXYZ: live order book, 7 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 edgeX live order book, 6 min ago	2.26 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	1.24 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit

WDC on 17 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
Bitget WDCUSDT	−0.0423%	8h	443.35	+0.008%	$1.1M	$1.1M	20x	as long as short
Aster WDCUSDT	0.0000%	8h	443.10	−0.049%	$10K	$136K	20x	as long as short
Extended WDC-USD	0.0000%	1h	443.16	−0.034%	$5K	$189K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	443.20	−0.026%	$7.3M	$25.4M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	443.27	−0.010%	$1.9M	$709K	25x	as long as short
Gate WDC_USDT	0.0000%	8h	443.30	−0.003%	$1.9M	$2.5M	50x	as long as short
OKX WDC-USDT-SWAP	+0.0005%	8h	443.30	−0.003%	$2.0M	$4.3M	20x	as long as short
BloFin WDC-USDT	+0.0008%	8h	443.35	+0.008%	$140K	$94K	20x	as long as short
edgeX WDCUSDClong	+0.0021%	4h	443.31	long leg	$49K	$230K	10x
GRVT WDC_USDT_Perp	+0.0027%	8h	443.44	+0.029%	$519	$146K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WDC	+0.0032%	1h	442.82	−0.111%	—	—	10x	as long as short
tradeXYZ xyz:WDCshort	+0.0050%	1h	443.02	−0.066%	$2.3M	$2.1M	10x
QFEX WDC-USD	+0.0059%	1h	443.26	−0.012%	$1.1M	$3.0M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	443.01	−0.068%	$272K	$46K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	443.16	−0.035%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	443.30	−0.003%	—	$2.4M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	443.60	+0.065%	$33K	$8K	10x	as long as short