Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0260%/8h= +28.4% APRpaid last 24h +0.180%

Price spread now: Aster against Backpack−0.092%7-day average +0.079% · 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−$75as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.408%+$41 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.092%, 7d avg +0.079%

Together, before fees+0.499%+ Points / potential airdropAster: Stage 5 · farm board+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.171% cheaper against Backpack than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of +0.079%). If the spread goes back, that is −$17 on $10k: about 2.2 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2505	−0.0160	get 0.0020% / 1h	13m 47s	$77K	$256K	10x
Short	Aster WIFUSDT	0.2502	0.0100	get 0.0050% / 4h	3h 13m	$35K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.092%Rate

Funding earned: $54.56
Price spread: −0.092% → +0.079%: −$17.12
Slippage, 4 orders: −$40.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$20.63
Costs to cover: 0.581%
Break-even: 9.6 days

Slippage from Backpack: live order book, 59 min ago; Aster: live order book, 58 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 Backpack live order book, 59 min ago	0.21 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 58 min ago	6.18 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit

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
Gate WIF_USDT	−0.0174%	4h	0.2500	−0.184%	$1.3M	$7.2M	50x	as long as short
Backpack WIF_USDC_PERPlong	−0.0160%	1h	0.2505	long leg	$77K	$256K	10x
Deribit WIF_USDC-PERPETUAL	−0.0149%	1h	0.2508	+0.136%	$49K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0046%	4h	0.2500	−0.184%	$4.5M	$12.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2503	−0.080%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2510	+0.224%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.381%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2510	+0.229%	$658K	$2.2M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2502	−0.104%	$149K	$595K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2507	+0.096%	$57K	$496K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0098%	4h	0.2508	+0.136%	$5K	$1.3M	10x	as long as short
Aster WIFUSDTshort	+0.0100%	4h	0.2502	−0.092%	$35K	$274K	10x
Pacifica WIF	+0.0100%	1h	0.2503	−0.076%	$77K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2503	−0.064%	$19.2M	$108.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2501	−0.144%	$17.2M	$37.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2501	−0.144%	$6.0M	$34.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2501	−0.144%	$22.8M	$11.1M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2502	−0.104%	$7.6M	$12.2M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2502	−0.104%	—	$65.8M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2503	−0.079%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	−0.343%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	−0.383%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2505	+0.016%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2508	+0.152%	$570	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2506	+0.056%	$172K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2500	−0.185%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2507	+0.116%	$84K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0188% / S −0.0049%	1h	0.2510	+0.208%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0205%	1h	0.2506	+0.044%	$8.0M	$4.2M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2511	+0.256%	$339K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2512	+0.295%	$1.0M	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2508	+0.120%	$1	—	15x	as long as short