Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against ApeX Omni+0.435%50s7-day average −0.011% · you sell dearer than you buy

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.356%−$36 · spread now +0.435%, 7d avg −0.011%

Together, before fees−0.428%−$43 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: Orderly is 0.446% dearer against ApeX Omni than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of −0.011%. The two prices were read 50 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	ApeX Omni WIFUSDT	0.2531	0.0100	pay 0.0013% / 1h	13m 35s	$46K	$640K	25x
Short	Orderly PERP_WIF_USDC	0.2542	0.0100	get 0.0050% / 4h	13m 35s	$6K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ApeX OmnibpFee OrderlybpOrdersPrice spread, now +0.435%Rate

Funding earned: $0
Price spread: +0.435% → −0.011%: $44.56
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $28.56
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 24 min ago; Orderly: 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 ApeX Omni live order book, 24 min ago	9.91 bp	18.5 bp −$18	107.3 bp −$1,073	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
GMX WIF/USD [WBTC.b-USDC]	L −0.0182% / S +0.0276%	1h	0.2533	+0.098%	$20K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−2.726%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2533	+0.079%	$1.0M	$960K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2541	+0.382%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2542	+0.435%	$34K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2541	+0.376%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0034%	1h	0.2540	+0.348%	$76K	$310K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2543	+0.490%	$145K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2544	+0.514%	$55K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2543	+0.469%	$8.8M	$6.9M	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	0.2544	+0.514%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2543	+0.459%	$79K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2545	+0.553%	$19.6M	$149.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2543	+0.474%	$17.0M	$49.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2545	+0.553%	$5.7M	$44.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2541	+0.395%	$1.2M	$9.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2542	+0.435%	$22.7M	$12.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2542	+0.435%	$4.3M	$17.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2541	+0.395%	$7.7M	$16.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2541	+0.395%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2517	−0.549%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2536	+0.198%	$286K	$3.0M	10x	as long as short
ApeX Omni WIFUSDTlong	+0.0100%	1h	0.2531	long leg	$46K	$640K	25x
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2542	+0.435%	$6K	$1.0M	10x
SunX WIF-USDT	+0.0100%	4h	0.2537	+0.237%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2541	+0.391%	$584	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2535	+0.158%	$161K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2542	+0.430%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	+0.401%	$85K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2542	+0.435%	$337K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2530	−0.053%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0798%	1h	0.2542	+0.430%	$661K	$2.7M	50x	as long as short