Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0175%/8h= +19.1% APRpaid last 24h +0.016%

Price spread now: MEXC against Kraken Futures−0.041%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$660.656% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 3 days (all we have)−0.105%−$11 · spread now −0.041%, 7d avg −0.076%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and MEXC is 0.036% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2460	−0.0075	get 0.0009% / 1h	38m 06s	$641K	$2.3M	50x
Short	MEXC WIF_USDT	0.2459	0.0100	get 0.0050% / 4h	2h 38m	$22.1M	$11.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.041%Rate

Funding earned: $36.68
Price spread: −0.041% → −0.076%: $3.56
Slippage, 4 orders: −$51.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$25.33
Costs to cover: 0.656%
Break-even: 11.8 days

Slippage from Kraken Futures: live order book, just now; MEXC: live order book, 1 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, just now	12.19 bp	29.0 bp −$29	72.3 bp −$723	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.03 bp	10.1 bp −$10	29.7 bp −$297	131.1 bp −$13.1K	162.2 bp −$81.1K

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	−0.0783%	1h	0.2470	+0.407%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0134%	4h	0.2459	−0.041%	$1.2M	$7.4M	50x	as long as short
Kraken Futures PF_WIFUSDlong	−0.0075%	1h	0.2460	long leg	$641K	$2.3M	50x
dYdX WIF-USD	0.0000%	1h	0.2464	+0.143%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2459	−0.041%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2461	+0.058%	$796	—	150x	as long as short
KuCoin WIFUSDTM	+0.0002%	4h	0.2459	−0.041%	$4.5M	$13.0M	75x	as long as short
Backpack WIF_USDC_PERP	+0.0056%	1h	0.2458	−0.065%	$77K	$272K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2461	+0.033%	$138K	$624K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2465	+0.203%	$56K	$497K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2461	+0.041%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2461	+0.046%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2464	+0.174%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2462	+0.099%	$18.7M	$112.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2461	+0.041%	$16.9M	$38.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2464	+0.163%	$5.9M	$34.6M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2459	−0.041%	$22.1M	$11.1M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2461	+0.041%	$7.4M	$12.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2462	+0.081%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2462	+0.086%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2458	−0.066%	$279K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2485	+1.016%	$43K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2457	−0.122%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2459	−0.041%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2453	−0.284%	$167K	$724K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2458	−0.074%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2459	−0.041%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0176% / S −0.0041%	1h	0.2461	+0.038%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0192%	1h	0.2465	+0.187%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2466	+0.244%	$324K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2487	+1.098%	$997K	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2465	+0.208%	$0	—	15x	as long as short