Funding you earn now, next payment 02:00 UTC+0.0819%/8h= +89.7% APRnext payment +$1.02 per $10,000 · paid last 24h −0.151%
Price spread now: Backpack against Injective+0.530%72s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 +$25 a day on $10k at the current rate, and Backpack is 0.530% dearer against Injective than usual: you sell high and buy low: +$53 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective WIF/USDC PERP | 0.2470 | −0.0783 | get 0.0098% / 1h | 23m 59s | $11K | $10K | 12x |
| Short | Backpack WIF_USDC_PERP | 0.2483 | 0.0037 | get 0.0005% / 1h | 23m 59s | $79K | $272K | 10x |
Injective WIF/USDC PERP
Backpack WIF_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $172.03
- Price spread: +0.530% → 0.000%
- $53.04
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $215.05
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 44 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 44 min ago | 0.41 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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 31 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 PERPlong | −0.0783% | 1h | 0.2470 | long leg | $11K | $10K | 12x | |
| Kraken Futures PF_WIFUSD | −0.0074% | 1h | 0.2485 | +0.588% | $644K | $2.3M | 50x | as long as short |
| Gate WIF_USDT | −0.0036% | 4h | 0.2482 | +0.486% | $1.2M | $7.4M | 50x | as long as short |
| dYdX WIF-USD | 0.0000% | 1h | 0.2483 | +0.508% | $19K | $589 | 10x | as long as short |
| Deribit WIF_USDC-PERPETUAL | 0.0000% | 1h | 0.2482 | +0.486% | $49K | $276K | 25x | as long as short |
| gTrade (Gains Network) WIF/USD | L +0.0002% / S +0.0001% | 1h | 0.2480 | +0.420% | $802 | — | 150x | as long as short |
| Backpack WIF_USDC_PERPshort | +0.0037% | 1h | 0.2483 | +0.530% | $79K | $272K | 10x | |
| KuCoin WIFUSDTM | +0.0044% | 4h | 0.2482 | +0.486% | $4.5M | $13.1M | 75x | as long as short |
| Lighter WIF | +0.0096% | 1h | 0.2485 | +0.595% | $140K | $624K | 10x | as long as short |
| Popdex WIFUSDT | +0.0096% | 1h | 0.2479 | +0.364% | $57K | $497K | 20x | as long as short |
Kraken Futures PF_WIFUSD
Gate WIF_USDT
dYdX WIF-USD
Deribit WIF_USDC-PERPETUAL
gTrade (Gains Network) WIF/USD
KuCoin WIFUSDTM
Lighter WIF
Popdex WIFUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_WIF_USDC | +0.0100% | 4h | 0.2482 | +0.486% | $5K | $1.3M | 10x | as long as short |
| Aster WIFUSDT | +0.0100% | 4h | 0.2482 | +0.467% | $35K | $274K | 10x | as long as short |
| Pacifica WIF | +0.0100% | 1h | 0.2484 | +0.551% | $77K | $54K | 5x | as long as short |
| Binance WIFUSDT | +0.0100% | 4h | 0.2486 | +0.648% | $18.9M | $112.6M | 75x | as long as short |
| Bybit WIFUSDT | +0.0100% | 4h | 0.2484 | +0.551% | $17.0M | $38.2M | 50x | as long as short |
| OKX WIF-USDT-SWAP | +0.0100% | 4h | 0.2485 | +0.607% | $5.9M | $34.9M | 50x | as long as short |
| MEXC WIF_USDT | +0.0100% | 4h | 0.2484 | +0.567% | $22.3M | $11.1M | 50x | as long as short |
| Bitget WIFUSDT | +0.0100% | 4h | 0.2485 | +0.607% | $7.5M | $12.5M | 50x | as long as short |
| BingX WIF-USDC | +0.0100% | 4h | 0.2485 | +0.607% | — | $2.3M | — | as long as short |
| Variational Omni WIF | +0.0100% | 4h | 0.2486 | +0.651% | $76K | $70K | — | as long as short |
| GRVT WIF_USDT_Perp | +0.0100% | 4h | 0.2489 | +0.782% | $281K | $2.0M | 10x | as long as short |
| ApeX Omni WIFUSDT | +0.0100% | 1h | 0.2475 | +0.202% | $43K | $628K | 25x | as long as short |
| SunX WIF-USDT | +0.0100% | 4h | 0.2475 | +0.202% | $1K | $2.8M | 50x | as long as short |
| SoDEX WIF-USD | +0.0100% | 1h | 0.2482 | +0.486% | $567 | $5K | 5x | as long as short |
| HTX WIF-USDT | +0.0100% | 4h | 0.2478 | +0.324% | $167K | $732K | 75x | as long as short |
| Extended WIF-USD | +0.0104% | 1h | 0.2480 | +0.419% | $11K | $155K | 25x | as long as short |
| Aevo WIF-PERP | +0.0104% | 1h | 0.2482 | +0.487% | $83K | $85 | 3x | as long as short |
| GMX WIF/USD [WBTC.b-USDC] | L +0.0172% / S −0.0038% | 1h | 0.2480 | +0.406% | $8K | — | 100x | as long as short |
| Hyperliquid WIF | +0.0223% | 1h | 0.2490 | +0.802% | $8.0M | $4.7M | 5x | as long as short |
| Coinbase International WIF-PERP-INTX | +0.0304% | 1h | 0.2480 | +0.405% | $327K | $2.5M | 50x | as long as short |
| Reya WIFRUSDPERP | +0.0558% | 1h | 0.2479 | +0.348% | $0 | — | 15x | as long as short |
Orderly PERP_WIF_USDC
Aster WIFUSDT
Pacifica WIF
Binance WIFUSDT
Bybit WIFUSDT
OKX WIF-USDT-SWAP
MEXC WIF_USDT
Bitget WIFUSDT
BingX WIF-USDC
Variational Omni WIF
GRVT WIF_USDT_Perp
ApeX Omni WIFUSDT
SunX WIF-USDT
SoDEX WIF-USD
HTX WIF-USDT
Extended WIF-USD
Aevo WIF-PERP
GMX WIF/USD [WBTC.b-USDC]
Hyperliquid WIF
Coinbase International WIF-PERP-INTX
Reya WIFRUSDPERP