Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0098%/8h= +10.8% APRpaid last 24h +0.029%

Price spread now: BingX against gTrade (Gains Network)−0.319%46s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.319% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.319% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 11 days of funding at the current rate (+$3 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	gTrade (Gains Network) WIF/USD	0.2507	L +0.0002% / S −0.0001%	pay 0.0000% / 1h	11m 40s	$4K	—	150x
Short	BingX WIF-USDC	0.2499	0.0100	get 0.0050% / 4h	11m 40s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.319%Rate

Funding earned: $20.68
Price spread: −0.319% → 0.000%: −$31.91
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$31.23
Costs to cover: 0.200%
Break-even: 17.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 2 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	1.97 bp	18.0 bp −$18	61.3 bp −$613	316.0 bp −$31.6K	797.8 bp −$398.9K

gTrade (Gains Network): 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 −0.0197% / S +0.0279%	1h	0.2507	+0.016%	$20K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−1.795%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2541	+1.356%	$1.0M	$963K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2496	−0.452%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2505	−0.080%	$33K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USDlong	L +0.0002% / S −0.0001%	1h	0.2507	long leg	$4K	—	150x
Backpack WIF_USDC_PERP	+0.0030%	1h	0.2495	−0.459%	$75K	$310K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2497	−0.419%	$143K	$743K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2494	−0.519%	$54K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2496	−0.431%	$8.8M	$7.2M	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	0.2497	−0.386%	$29K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2496	−0.450%	$78K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2494	−0.511%	$19.2M	$151.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2491	−0.622%	$17.0M	$50.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2486	−0.838%	$5.7M	$43.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2496	−0.439%	$1.3M	$9.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	−0.399%	$24.7M	$13.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2499	−0.319%	$4.2M	$17.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2497	−0.399%	$7.6M	$16.5M	50x	as long as short
BingX WIF-USDCshort	+0.0100%	4h	0.2499	−0.319%	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2517	+0.403%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2510	+0.120%	$282K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2545	+1.516%	$46K	$641K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2507	0.000%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2498	−0.359%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2502	−0.199%	$577	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2498	−0.359%	$159K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2495	−0.473%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2506	−0.041%	$84K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2501	−0.239%	$328K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2516	+0.365%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0810%	1h	0.2502	−0.193%	$658K	$2.7M	50x	as long as short