Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h +0.014%

Price spread now: Gate against Kraken Futures−0.167%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$960.961% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.167%, 7d avg −0.054%

Together, before fees+0.103%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.114% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.054%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.081%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2472	0.0137	pay 0.0017% / 1h	54m 10s	$642K	$2.3M	50x
Short	Gate WIF_USDT	0.2468	0.0022	get 0.0011% / 4h	1h 54m	$1.2M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.167%Rate

Funding earned: −$24.25
Price spread: −0.167% → −0.054%: −$11.35
Slippage, 4 orders: −$71.09
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$131.68
Costs to cover: 0.961%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	12.16 bp	21.9 bp −$22	70.0 bp −$700	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.03 bp	22.7 bp −$23	105.8 bp −$1,058	171.8 bp −$17.2K	doesn't fit

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
Backpack WIF_USDC_PERP	−0.0293%	1h	0.2465	−0.268%	$78K	$273K	10x	as long as short
ApeX Omni WIFUSDT	−0.0291%	1h	0.2459	−0.531%	$42K	$629K	25x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2473	+0.018%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2470	−0.086%	$46K	$261K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2469	−0.111%	$798	—	150x	as long as short
Gate WIF_USDTshort	+0.0022%	4h	0.2468	−0.167%	$1.2M	$7.5M	50x
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.086%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2472	+0.015%	$140K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2470	−0.086%	$57K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2471	−0.046%	$5K	$1.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2470	−0.100%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2474	+0.060%	$77K	$55K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2470	−0.092%	$18.8M	$113.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2466	−0.236%	$17.0M	$38.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2467	−0.208%	$5.9M	$34.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2470	−0.086%	$22.0M	$10.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2469	−0.127%	$4.5M	$13.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2468	−0.167%	$7.4M	$12.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2471	−0.046%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2487	+0.605%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2468	−0.167%	$277K	$2.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2468	−0.167%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	+0.011%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2467	−0.208%	$166K	$688K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2470	−0.070%	$8K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2471	−0.041%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0137%	1h	0.2472	long leg	$642K	$2.3M	50x
GMX WIF/USD [WBTC.b-USDC]	L +0.0162% / S −0.0032%	1h	0.2469	−0.143%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0235%	1h	0.2472	+0.015%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2472	−0.005%	$328K	$2.5M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2467	−0.194%	$0	—	15x	as long as short