Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.040%

Price spread now: Binance against Injective+0.973%77s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

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 +$2 a day on $10k at the current rate, and Binance is 0.973% dearer against Injective than usual: you sell high and buy low: +$97 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 77 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	0.0033	pay 0.0004% / 1h	24m 00s	$11K	$10K	12x
Short	Binance WIFUSDT	0.2494	0.0100	get 0.0050% / 4h	24m 00s	$18.8M	$118.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.973%Rate

Funding earned: $14
Price spread: +0.973% → 0.000%: $97.28
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $101.26
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	2.00 bp	12.9 bp −$13	36.9 bp −$369	108.2 bp −$10.8K	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 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	0.2499	+1.174%	$997K	$833K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0152%	1h	0.2493	+0.915%	$76K	$291K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2500	+1.195%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2494	+0.972%	$45K	$256K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2494	+0.966%	$806	—	150x	as long as short
Injective WIF/USDC PERPlong	+0.0033%	1h	0.2470	long leg	$11K	$10K	12x
Lighter WIF	+0.0096%	1h	0.2496	+1.040%	$138K	$631K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2493	+0.931%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2495	+1.020%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2499	+1.173%	$78K	$60K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDTshort	+0.0100%	4h	0.2494	+0.973%	$18.8M	$118.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2495	+1.004%	$17.0M	$39.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2494	+0.972%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2494	+0.972%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2494	+0.972%	$23.0M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2493	+0.931%	$4.6M	$14.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2493	+0.931%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2495	+1.012%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2501	+1.257%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2501	+1.255%	$284K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	+1.215%	$46K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2494	+0.972%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2489	+0.769%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2493	+0.935%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2495	+1.012%	$167K	$699K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2492	+0.884%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2494	+0.954%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0133% / S −0.0012%	1h	0.2494	+0.953%	$8K	—	100x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2494	+0.968%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0298%	1h	0.2499	+1.166%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2496	+1.053%	$328K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2493	+0.935%	$0	—	15x	as long as short