Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0016%/8h= +1.7% APRpaid last 24h +3.807%

Price spread now: KuCoin against GMX+0.114%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 KuCoin

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 $0 a day on $10k at the current rate, and KuCoin is 0.114% dearer against GMX than usual: you sell high and buy low: +$11 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]	0.2451	L +0.0084% / S +0.0033%	pay 0.0011% / 1h	10m 40s	$9K	—	100x
Short	KuCoin WIFUSDTM	0.2454	0.0100	get 0.0050% / 4h	2h 10m	$4.1M	$16.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.114%Rate

Funding earned: $3.35
Price spread: +0.114% → 0.000%: $11.42
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.23
Costs to cover: 0.240%
Break-even: 26.3 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	4.10 bp	21.1 bp −$21	66.7 bp −$667	doesn't fit	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	−0.0141%	4h	0.2452	+0.033%	$975K	$922K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2454	+0.094%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2451	−0.008%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0050%	1h	0.2451	+0.008%	$73K	$319K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0084% / S +0.0033%	1h	0.2451	long leg	$9K	—	100x
Lighter WIF	+0.0096%	1h	0.2456	+0.200%	$143K	$678K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2457	+0.237%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2457	+0.216%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2455	+0.161%	$29K	$339K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2454	+0.095%	$77K	$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	0.2456	+0.196%	$18.7M	$141.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2455	+0.135%	$16.6M	$46.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2455	+0.155%	$5.6M	$40.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2454	+0.114%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2453	+0.073%	$22.2M	$12.1M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2454	+0.114%	$4.1M	$16.1M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2456	+0.196%	$7.5M	$15.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2455	+0.155%	—	$27.2M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2450	−0.046%	$73K	$190K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2418	−1.354%	$276K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2439	−0.498%	$45K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2452	+0.033%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2449	−0.090%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2452	+0.049%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2449	−0.090%	$148K	$860K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2455	+0.138%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2452	+0.035%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0244%	1h	0.2454	+0.127%	$635K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2453	+0.073%	$328K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2444	−0.279%	$0	—	15x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0566%	1h	0.2454	+0.114%	$33K	$274K	25x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−2.048%	$10K	$10K	12x	as long as short