Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +3.827%

Price spread now: Bitget against GMX−0.231%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bitget

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. Bitget is 0.231% cheaper against GMX than usual: you would sell low and buy high (spread −0.231% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 28 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2464	L +0.0072% / S +0.0252%	pay 0.0009% / 1h	57m 43s	$21K	—	100x
Short	Bitget WIFUSDT	0.2458	0.0100	get 0.0050% / 4h	1h 57m	$7.5M	$15.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.231%Rate

Funding earned: $5.85
Price spread: −0.231% → 0.000%: −$23.05
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.2
Costs to cover: 0.240%
Break-even: 56.3 days

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	2.03 bp	13.2 bp −$13	24.9 bp −$249	111.7 bp −$11.2K	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2401	−2.544%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2456	−0.312%	$976K	$927K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2469	+0.196%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2463	−0.018%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0072% / S +0.0252%	1h	0.2464	long leg	$21K	—	100x
Lighter WIF	+0.0096%	1h	0.2457	−0.251%	$142K	$678K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2468	+0.175%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2460	−0.145%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2458	−0.230%	$28K	$349K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2469	+0.198%	$78K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2458	−0.246%	$18.6M	$142.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2457	−0.271%	$16.6M	$46.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2457	−0.271%	$5.5M	$41.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2457	−0.271%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2456	−0.312%	$22.5M	$12.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2465	+0.054%	$4.2M	$16.2M	75x	as long as short
Bitget WIFUSDTshort	+0.0100%	4h	0.2458	−0.231%	$7.5M	$15.6M	50x
BingX WIF-USDC	+0.0100%	4h	0.2457	−0.271%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2463	−0.011%	$73K	$294K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2448	−0.635%	$73K	$192K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.594%	$271K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2449	−0.596%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2467	+0.135%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2460	−0.149%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2464	+0.013%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2462	−0.068%	$150K	$881K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2464	+0.014%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2466	+0.094%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0156%	1h	0.2465	+0.054%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0346%	1h	0.2465	+0.070%	$637K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2467	+0.135%	$360K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2465	+0.057%	$0	—	15x	as long as short