Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0324%/8h= +35.5% APRpaid last 24h −0.007%

Price spread now: Variational Omni against Injective−1.234%76s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 1.234% cheaper against Injective than usual: you would sell low and buy high (spread −1.234% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$123 on $10k: about 13 days of funding at the current rate (+$10 a day). The two prices were read 76 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	0.2395	−0.0321	get 0.0040% / 1h	10m 00s	$10K	$10K	12x
Short	Variational Omni WIF	0.2365	0.0003	get 0.0002% / 4h	2h 10m	$67K	$65K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −1.234%Rate

Funding earned: $68
Price spread: −1.234% → 0.000%: −$123.42
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$55.45
Costs to cover: 0.000%
Break-even: 12.7 days

Slippage unknown: Injective: no order-book sample; Variational Omni: no order-book sample. 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 Variational Omni no order-book sample	—	—	—	—	—

Injective and Variational Omni: 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
Backpack WIF_USDC_PERP	−0.0644%	1h	0.2369	−1.073%	$73K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0593%	1h	0.2371	−1.002%	$47K	$289K	25x	as long as short
Injective WIF/USDC PERPlong	−0.0321%	1h	0.2395	long leg	$10K	$10K	12x
KuCoin WIFUSDTM	−0.0188%	4h	0.2369	−1.086%	$4.2M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2372	−0.942%	$628K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2370	−1.049%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2371	−1.013%	$14K	—	150x	as long as short
Variational Omni WIFshort	+0.0003%	4h	0.2365	−1.234%	$67K	$65K	—
Aster WIFUSDT	+0.0045%	4h	0.2368	−1.130%	$23K	$254K	10x	as long as short
Gate WIF_USDT	+0.0050%	4h	0.2369	−1.086%	$1.2M	$6.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0054%	4h	0.2366	−1.220%	$272K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2371	−1.002%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2371	−0.998%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2371	−1.002%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2374	−0.864%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2370	−1.043%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2370	−1.034%	$17.6M	$99.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2369	−1.086%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2370	−1.044%	$6.0M	$30.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2370	−1.044%	$21.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2370	−1.044%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2369	−1.086%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2374	−0.877%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2367	−1.169%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2371	−1.023%	$541	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2367	−1.169%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2370	−1.044%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2371	−1.023%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0161% / S −0.0826%	1h	0.2371	−0.995%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2380	−0.626%	$312K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2368	−1.127%	$971K	$684K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2370	−1.027%	$0	—	15x	as long as short