Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0098%/8h= +10.8% APRpaid last 24h +0.018%

Price spread now: Orderly against gTrade (Gains Network)+0.225%123s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Orderly

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.225% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 123 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	0.2473	L +0.0002% / S −0.0001%	pay 0.0000% / 1h	23m 35s	—	—	150x
Short	Orderly PERP_WIF_USDC	0.2479	0.0100	get 0.0050% / 4h	1h 23m	$5K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.225%Rate

Funding earned: $20.68
Price spread: +0.225% → 0.000%: $22.52
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $27.2
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and 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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−0.462%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2478	+0.185%	$982K	$936K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0033%	1h	0.2476	+0.104%	$73K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2476	+0.086%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USDlong	L +0.0002% / S −0.0001%	1h	0.2473	long leg	—	—	150x
GMX WIF/USD [WBTC.b-USDC]	L +0.0035% / S +0.0255%	1h	0.2478	+0.174%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2476	+0.108%	$143K	$702K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2472	−0.058%	$53K	$571K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2478	+0.173%	$8.6M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2475	+0.062%	$31K	$351K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2475	+0.045%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2472	−0.040%	$18.8M	$143.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2473	−0.034%	$16.7M	$47.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2472	−0.058%	$5.5M	$41.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2475	+0.063%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2475	+0.063%	$22.4M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2474	+0.023%	$4.1M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2473	−0.017%	$7.5M	$15.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2472	−0.058%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2473	−0.015%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2460	−0.543%	$283K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2460	−0.543%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2479	+0.225%	$5K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2474	+0.023%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2478	+0.185%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2473	−0.017%	$143K	$908K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2473	−0.001%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2479	+0.209%	$83K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0154%	1h	0.2479	+0.225%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0344%	1h	0.2479	+0.224%	$643K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2479	+0.225%	$326K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2473	−0.013%	$0	—	15x	as long as short