Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0174%/8h= +19.1% APRpaid last 24h +0.012%

Price spread now: Orderly against Kraken Futures−0.046%7-day average −0.073% · you buy dearer than you sell

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now −0.046%, 7d avg −0.073%

Together, before fees+0.072%+$7 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 Orderly is 0.026% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2475	−0.0074	get 0.0009% / 1h	15m 13s	$642K	$2.3M	50x
Short	Orderly PERP_WIF_USDC	0.2474	0.0100	get 0.0050% / 4h	2h 15m	$5K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.046%Rate

Funding earned: $36.58
Price spread: −0.046% → −0.073%: $2.65
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $23.22
Costs to cover: 0.160%
Break-even: 2.6 days

Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: 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 Kraken Futures live order book, 3 min ago	12.14 bp	20.1 bp −$20	125.3 bp −$1,253	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.208%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSDlong	−0.0074%	1h	0.2475	long leg	$642K	$2.3M	50x
Backpack WIF_USDC_PERP	−0.0021%	1h	0.2472	−0.127%	$81K	$273K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2468	−0.308%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2474	−0.029%	$799	—	150x	as long as short
Gate WIF_USDT	+0.0008%	4h	0.2472	−0.127%	$1.2M	$7.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0078%	4h	0.2473	−0.087%	$4.5M	$13.2M	75x	as long as short
Lighter WIF	+0.0096%	1h	0.2475	+0.006%	$139K	$626K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2470	−0.208%	$57K	$496K	20x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2474	−0.046%	$5K	$1.3M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2473	−0.090%	$35K	$278K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2468	−0.293%	$77K	$54K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2474	−0.046%	$18.8M	$113.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2472	−0.131%	$17.0M	$38.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2472	−0.127%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2474	−0.046%	$22.1M	$11.1M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2474	−0.046%	$7.5M	$12.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2472	−0.127%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2463	−0.489%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2477	+0.075%	$280K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2474	−0.046%	$43K	$628K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2471	−0.167%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2475	−0.026%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2471	−0.167%	$166K	$734K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2473	−0.091%	$8K	$158K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2474	−0.042%	$83K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0154%	1h	0.2474	−0.046%	$49K	$266K	25x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0169% / S −0.0036%	1h	0.2474	−0.047%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0210%	1h	0.2477	+0.087%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2472	−0.127%	$329K	$2.5M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2473	−0.104%	$0	—	15x	as long as short