Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: ApeX Omni against Orderly+0.243%50s7-day average +0.006% · you sell dearer than you buy

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

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 4 days (all we have)−0.291%−$29 · spread now +0.243%, 7d avg +0.006%

Together, before fees−0.217%−$22 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: ApeX Omni is 0.237% dearer against Orderly than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.006%. 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	Orderly PERP_WIF_USDC	0.2467	0.0100	pay 0.0050% / 4h	1h 29m	$5K	$1.3M	10x
Short	ApeX Omni WIFUSDT	0.2473	0.0100	get 0.0013% / 1h	29m 31s	$43K	$629K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now +0.243%Rate

Funding earned: $0
Price spread: +0.243% → +0.006%: $23.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $7.7
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 33 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 33 min ago	10.12 bp	18.1 bp −$18	106.4 bp −$1,064	doesn't fit	doesn't fit

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
BloFin WIF-USDT	−0.0176%	4h	0.2471	+0.162%	$1.0M	$820K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2468	+0.060%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2468	+0.041%	$46K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2468	+0.053%	$798	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.122%	$11K	$10K	12x	as long as short
Gate WIF_USDT	+0.0060%	4h	0.2468	+0.041%	$1.2M	$7.5M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2470	+0.126%	$139K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2468	+0.041%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2470	+0.102%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2469	+0.068%	$76K	$56K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2468	+0.046%	$18.8M	$114.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2466	−0.041%	$17.0M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2469	+0.081%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2469	+0.081%	$22.2M	$11.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2469	+0.081%	$4.4M	$13.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2468	+0.041%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2468	+0.041%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2466	−0.041%	$78K	$280K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2470	+0.121%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2471	+0.163%	$276K	$2.1M	10x	as long as short
ApeX Omni WIFUSDTshort	+0.0100%	1h	0.2473	+0.243%	$43K	$629K	25x
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2467	long leg	$5K	$1.3M	10x
SunX WIF-USDT	+0.0100%	4h	0.2467	0.000%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2468	+0.028%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2466	−0.041%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2466	−0.029%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2468	+0.021%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2469	+0.085%	$647K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0155% / S −0.0026%	1h	0.2468	+0.032%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0281%	1h	0.2473	+0.239%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2470	+0.122%	$330K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2467	−0.018%	$0	—	15x	as long as short