Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +3.847%

Price spread now: Bybit against GMX−0.041%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 Bybit

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.041% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2487	L +0.0148% / S −0.0022%	pay 0.0019% / 1h	10m 16s	$8K	—	100x
Short	Bybit WIFUSDT	0.2486	0.0100	get 0.0050% / 4h	1h 10m	$17.1M	$38.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$10.11
Price spread: −0.041% → 0.000%: −$4.06
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.17
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	2.00 bp	12.3 bp −$12	29.1 bp −$291	230.2 bp −$23.0K	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
BloFin WIF-USDT	−0.0187%	4h	0.2492	+0.201%	$784K	$834K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2494	+0.261%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2488	+0.040%	$47K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2487	+0.014%	$804	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.684%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2497	+0.382%	$140K	$628K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2494	+0.281%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2494	+0.294%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2495	+0.310%	$77K	$57K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2489	+0.062%	$19.1M	$115.1M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDTshort	+0.0100%	4h	0.2486	−0.041%	$17.1M	$38.6M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2487	0.000%	$5.9M	$35.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2488	+0.040%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2489	+0.080%	$22.3M	$11.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2491	+0.160%	$4.7M	$13.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2486	−0.041%	$7.5M	$12.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2487	0.000%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2496	+0.349%	$85K	$272K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2489	+0.081%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2490	+0.112%	$277K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2496	+0.361%	$43K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2488	+0.040%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2484	−0.121%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2488	+0.044%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2498	+0.442%	$167K	$694K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2487	−0.016%	$9K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2487	−0.012%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0137%	1h	0.2489	+0.075%	$652K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0148% / S −0.0022%	1h	0.2487	long leg	$8K	—	100x
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2492	+0.201%	$334K	$2.7M	50x	as long as short
Hyperliquid WIF	+0.0329%	1h	0.2495	+0.309%	$8.1M	$4.8M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2488	+0.030%	$0	—	15x	as long as short