Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.037%

Price spread now: Injective against Gate−0.625%114s7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.625% cheaper against Gate than usual: you would sell low and buy high (−$63 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 114 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	Gate WIF_USDT	0.2558	0.0100	pay 0.0050% / 4h	3h 49m	$1.2M	$8.0M	50x
Short	Injective WIF/USDC PERP	0.2542	0.0033	get 0.0004% / 1h	49m 23s	$11K	$10K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.625%Rate

Funding earned: −$14
Price spread: −0.625% → 0.000%: −$62.55
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$91.57
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Injective: 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 Gate live order book, 4 min ago	3.91 bp	26.9 bp −$27	53.6 bp −$536	80.4 bp −$8,036	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
BloFin WIF-USDT	−0.0214%	4h	0.2565	+0.274%	$1.0M	$909K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2561	+0.100%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2560	+0.078%	$46K	$256K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2557	−0.026%	—	—	150x	as long as short
Injective WIF/USDC PERPshort	+0.0033%	1h	0.2542	−0.625%	$11K	$10K	12x
Lighter WIF	+0.0096%	1h	0.2563	+0.180%	$148K	$636K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2560	+0.078%	$51K	$550K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2563	+0.176%	$41K	$303K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2561	+0.109%	$79K	$63K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2558	0.000%	$20.1M	$124.4M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2555	−0.121%	$17.5M	$41.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2556	−0.078%	$6.2M	$38.4M	50x	as long as short
Gate WIF_USDTlong	+0.0100%	4h	0.2558	long leg	$1.2M	$8.0M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2556	−0.078%	$23.7M	$11.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2558	0.000%	$4.5M	$14.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2557	−0.039%	$7.8M	$14.0M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2557	−0.039%	—	$23.5M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2560	+0.082%	$79K	$302K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2569	+0.432%	$97K	$83K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2553	−0.190%	$287K	$2.4M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2558	0.000%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2557	−0.039%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2560	+0.094%	$596	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2561	+0.117%	$170K	$712K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2558	−0.008%	$10K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2561	+0.117%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0122% / S −0.0005%	1h	0.2557	−0.037%	$8K	—	100x	as long as short
ApeX Omni WIFUSDT	+0.0149%	1h	0.2551	−0.274%	$47K	$624K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2569	+0.430%	$353K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0359%	1h	0.2562	+0.167%	$666K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0433%	1h	0.2562	+0.164%	$8.4M	$5.0M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2555	−0.133%	$1	—	15x	as long as short