Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0537%/8h= +58.8% APRpaid last 24h +3.811%

Price spread now: Binance against GMX+0.170%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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 for this trade now. Funding pays +$16 a day on $10k at the current rate, and Binance is 0.170% dearer against GMX than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2503	L −0.0437% / S +0.0328%	get 0.0055% / 1h	26m 04s	$19K	—	100x
Short	Binance WIFUSDT	0.2507	0.0100	get 0.0050% / 4h	3h 26m	$19.9M	$166.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.170%Rate

Funding earned: $112.84
Price spread: +0.170% → 0.000%: $16.95
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $107.79
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: GMX: no order-book sample; Binance: 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	1.99 bp	12.3 bp −$12	33.2 bp −$332	119.7 bp −$12.0K	doesn't fit

GMX: 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]long	L −0.0437% / S +0.0328%	1h	0.2503	long leg	$19K	—	100x
Gate WIF_USDT	−0.0350%	4h	0.2501	−0.062%	$1.3M	$11.6M	50x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2503	+0.018%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2504	+0.078%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2504	+0.058%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2494	−0.345%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2503	+0.018%	$6K	$1.1M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2504	+0.070%	$145K	$834K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2505	+0.098%	$54K	$580K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2503	+0.018%	$10.1M	$9.2M	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	0.2503	+0.017%	$40K	$411K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2503	+0.034%	$77K	$90K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2507	+0.170%	$19.9M	$166.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2507	+0.178%	$17.4M	$56.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2506	+0.138%	$5.9M	$48.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2502	−0.022%	$24.1M	$15.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2502	−0.022%	$3.9M	$18.1M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2501	−0.062%	$7.6M	$18.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2504	+0.058%	—	$27.5M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2501	−0.070%	$81K	$354K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2488	−0.577%	$76K	$368K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2484	−0.759%	$286K	$3.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2489	−0.541%	$35K	$654K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2500	−0.101%	$2K	$3.3M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2502	−0.002%	$579	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2503	+0.018%	$154K	$947K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2501	−0.071%	$12K	$212K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2501	−0.074%	$83K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2508	+0.218%	$355K	$3.9M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2509	+0.258%	$10K	$28K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2502	−0.018%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0739%	1h	0.2504	+0.066%	$641K	$3.0M	50x	as long as short