WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0325%/8h= −35.6% APRnext payment −$0.41 per $10,000 · paid last 24h −0.150%

Price spread now: Backpack against Kraken Futures−0.117%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$620.619% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.256%−$26 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.117%, 7d avg −0.121%

Together, before fees−0.309%−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.121%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2493	0.0342	pay 0.0043% / 1h	3m 23s	$647K	$2.7M	50x
Short	Backpack WIF_USDC_PERP	0.2490	0.0017	get 0.0002% / 1h	3m 23s	$75K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$68.24
Price spread: −0.117% → −0.121%: $0.44
Slippage, 4 orders: −$41.93
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$129.73
Costs to cover: 0.619%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Backpack: live order book, 40 min ago.

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 Kraken Futures live order book, 5 min ago	9.98 bp	27.8 bp −$28	49.6 bp −$496	doesn't fit	doesn't fit
Sell Backpack live order book, 40 min ago	0.81 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit

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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−1.256%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2497	+0.148%	$982K	$944K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2490	−0.133%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2492	−0.052%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2493	−0.001%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0014% / S +0.0236%	1h	0.2485	−0.340%	$19K	—	100x	as long as short
Backpack WIF_USDC_PERPshort	+0.0017%	1h	0.2490	−0.117%	$75K	$298K	10x
Lighter WIF	+0.0096%	1h	0.2493	−0.016%	$143K	$703K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2489	−0.173%	$53K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2489	−0.169%	$8.6M	$6.5M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2487	−0.256%	$30K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2491	−0.086%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2486	−0.300%	$18.9M	$144.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2484	−0.369%	$16.7M	$47.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2485	−0.333%	$5.5M	$42.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2486	−0.293%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2487	−0.253%	$22.3M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2487	−0.253%	$4.4M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2485	−0.333%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2486	−0.293%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2502	+0.351%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	+0.101%	$286K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	+0.268%	$46K	$635K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2485	−0.333%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2489	−0.173%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2492	−0.060%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2486	−0.293%	$153K	$946K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2489	−0.161%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2485	−0.320%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0342%	1h	0.2493	long leg	$647K	$2.7M	50x
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2501	+0.309%	$330K	$3.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2486	−0.309%	$0	—	15x	as long as short