Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Orderly against OKX−0.285%50s7-day average −0.046% · you buy dearer than you sell

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

Long on OKX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 4 days (all we have)+0.334%+$33 · spread now −0.285%, 7d avg −0.046%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.239% cheaper against OKX than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.046%. The two prices were read 50 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	OKX WIF-USDT-SWAP	0.2453	0.0100	pay 0.0050% / 4h	1h 48m	$5.5M	$41.2M	50x
Short	Orderly PERP_WIF_USDC	0.2446	0.0100	get 0.0050% / 4h	1h 48m	$5K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against OKX. 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 OKXbpFee OrderlybpOrdersPrice spread, now −0.285%Rate

Funding earned: $0
Price spread: −0.285% → −0.046%: −$23.91
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$39.91
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	2.06 bp	11.9 bp −$12	33.7 bp −$337	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 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	0.2454	+0.041%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2442	−0.448%	$975K	$921K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2458	+0.186%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2444	−0.367%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2444	−0.350%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0062% / S +0.0250%	1h	0.2445	−0.333%	$21K	—	100x	as long as short
Backpack WIF_USDC_PERP	+0.0078%	1h	0.2446	−0.281%	$73K	$293K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2455	+0.102%	$142K	$700K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2451	−0.082%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2455	+0.082%	$8.5M	$6.4M	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	0.2454	+0.052%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2455	+0.071%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2453	−0.014%	$18.6M	$142.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2454	+0.049%	$16.6M	$47.1M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2453	long leg	$5.5M	$41.2M	50x
Gate WIF_USDT	+0.0100%	4h	0.2455	+0.082%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2453	0.000%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2451	−0.082%	$4.1M	$16.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2454	+0.041%	$7.4M	$15.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2455	+0.082%	—	$27.2M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.322%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2447	−0.244%	$277K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2435	−0.734%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2446	−0.285%	$5K	$1.0M	10x
SunX WIF-USDT	+0.0100%	4h	0.2441	−0.489%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2445	−0.347%	$561	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2442	−0.448%	$148K	$882K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2453	+0.004%	$10K	$157K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2444	−0.376%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0349%	1h	0.2446	−0.297%	$626K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2446	−0.285%	$323K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2453	−0.016%	$0	—	15x	as long as short