Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +3.827%

Price spread now: SunX against GMX−0.095%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 SunX

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. SunX is 0.095% cheaper against GMX than usual: you would sell low and buy high (spread −0.095% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 13 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]	0.2449	L +0.0075% / S +0.0251%	pay 0.0009% / 1h	1m 12s	$21K	—	100x
Short	SunX WIF-USDT	0.2447	0.0100	get 0.0050% / 4h	2h 01m	$1K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.095%Rate

Funding earned: $5.17
Price spread: −0.095% → 0.000%: −$9.47
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$24.3
Costs to cover: 0.200%
Break-even: 39.9 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 7 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 SunX live order book, 7 min ago	32.68 bp	61.7 bp −$62	doesn't fit	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	−0.0140%	4h	0.2446	−0.136%	$972K	$923K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2446	−0.155%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2449	−0.003%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0025%	1h	0.2449	−0.017%	$73K	$319K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0075% / S +0.0251%	1h	0.2449	long leg	$21K	—	100x
Lighter WIF	+0.0096%	1h	0.2451	+0.077%	$142K	$679K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2446	−0.136%	$52K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2452	+0.126%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2449	−0.010%	$28K	$340K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2445	−0.157%	$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	0.2450	+0.014%	$18.5M	$141.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2449	−0.013%	$16.5M	$46.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2449	−0.013%	$5.5M	$40.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2448	−0.054%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2449	−0.013%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2449	−0.013%	$4.1M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2450	+0.028%	$7.5M	$15.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2450	+0.028%	—	$27.2M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.194%	$73K	$190K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2446	−0.136%	$280K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2445	−0.176%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2450	+0.028%	$5K	$1.1M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2447	−0.095%	$1K	$3.1M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2449	−0.009%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2448	−0.054%	$150K	$878K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2448	−0.044%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2449	−0.014%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0158%	1h	0.2450	+0.028%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0244%	1h	0.2451	+0.064%	$633K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2450	+0.028%	$322K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2449	−0.010%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−1.973%	$10K	$10K	12x	as long as short