Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.006%

Price spread now: tradeXYZ against SunX−0.079%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$231as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2292.286% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.079%, 7d avg −0.029%

Together, before fees−0.008%+ Points / potential airdroptradeXYZ: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and tradeXYZ is 0.050% cheaper against SunX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WDC-USDT	443.30	0.0100	pay 0.0100% / 8h	30m 57s	—	$2.4M	10x
Short	tradeXYZ xyz:WDC	442.95	0.0050	get 0.0006% / 1h	30m 57s	$2.3M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$10.5
Price spread: −0.079% → −0.029%: −$5.02
Slippage, 4 orders: −$202.61
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$244.13
Costs to cover: 2.286%
Break-even: never at this rate

Slippage from SunX: 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 SunX live order book, 6 min ago	81.21 bp	99.8 bp −$100	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	443.37	+0.016%	$1.1M	$1.1M	20x	as long as short
Aster WDCUSDT	0.0000%	8h	442.91	−0.088%	$10K	$136K	20x	as long as short
Extended WDC-USD	0.0000%	1h	443.16	−0.031%	$5K	$189K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	443.28	−0.005%	$7.3M	$25.4M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	443.27	−0.007%	$1.9M	$709K	25x	as long as short
Gate WDC_USDT	0.0000%	8h	443.30	0.000%	$1.9M	$2.5M	50x	as long as short
OKX WDC-USDT-SWAP	+0.0005%	8h	443.30	0.000%	$2.0M	$4.3M	20x	as long as short
BloFin WDC-USDT	+0.0008%	8h	443.35	+0.011%	$140K	$94K	20x	as long as short
edgeX WDCUSDC	+0.0021%	4h	443.31	+0.003%	$49K	$230K	10x	as long as short
GRVT WDC_USDT_Perp	+0.0027%	8h	443.44	+0.032%	$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	−0.108%	—	—	10x	as long as short
tradeXYZ xyz:WDCshort	+0.0050%	1h	442.95	−0.079%	$2.3M	$2.1M	10x
QFEX WDC-USD	+0.0059%	1h	443.26	−0.009%	$1.1M	$3.0M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	443.01	−0.065%	$272K	$46K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	443.16	−0.032%	$9K	$2K	10x	as long as short
SunX WDC-USDTlong	+0.0100%	8h	443.30	long leg	—	$2.4M	10x
HTX WDC-USDT	+0.0100%	8h	443.60	+0.068%	$33K	$8K	10x	as long as short