Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against Bitget0.000%55s7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$1701.697% of the position

Long on Bitget Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now 0.000%, 7d avg −0.027%

Together, before fees−0.056%−$6 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: Popdex is 0.027% dearer against Bitget than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 55 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	Bitget WIFUSDT	0.2493	0.0100	pay 0.0050% / 4h	3h 34m	$7.7M	$12.0M	50x
Short	Popdex WIFUSDT	0.2493	0.0096	get 0.0012% / 1h	34m 42s	$56K	$484K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Bitget. 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 BitgetbpFee PopdexbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$0.84
Price spread: 0.000% → −0.027%: $2.69
Slippage, 4 orders: −$151.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$167.84
Costs to cover: 1.697%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Popdex: live order book, 39 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 Bitget live order book, 4 min ago	2.04 bp	14.4 bp −$14	21.7 bp −$217	110.0 bp −$11.0K	doesn't fit
Sell Popdex live order book, 39 min ago	4.11 bp	62.7 bp −$63	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
Backpack WIF_USDC_PERP	−0.0346%	1h	0.2497	+0.172%	$76K	$255K	10x	as long as short
Gate WIF_USDT	−0.0092%	4h	0.2493	0.000%	$1.3M	$7.1M	50x	as long as short
KuCoin WIFUSDTM	−0.0006%	4h	0.2497	+0.160%	$4.4M	$12.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2496	+0.104%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2495	+0.080%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2494	+0.021%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.923%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2497	+0.152%	$662K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2495	+0.080%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2497	+0.152%	$143K	$588K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDTshort	+0.0096%	1h	0.2493	0.000%	$56K	$484K	20x
Aster WIFUSDT	+0.0100%	4h	0.2500	+0.275%	$25K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2497	+0.145%	$77K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2495	+0.094%	$19.2M	$106.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2492	−0.048%	$17.1M	$36.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2491	−0.080%	$6.0M	$33.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2493	0.000%	$22.5M	$10.9M	50x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2493	long leg	$7.7M	$12.0M	50x
BingX WIF-USDT	+0.0100%	4h	0.2492	−0.040%	—	$65.8M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2488	−0.196%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2450	−1.724%	$275K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2466	−1.083%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.120%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	+0.064%	$568	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2492	−0.040%	$172K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2491	−0.060%	$11K	$151K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2494	+0.028%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0184%	1h	0.2502	+0.353%	$8.0M	$4.3M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2493	−0.012%	$7K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2496	+0.120%	$336K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2498	+0.201%	$1.0M	$748K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2492	−0.055%	$0	—	15x	as long as short