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: Bitget against Orderly+0.245%7-day average +0.065% · you sell dearer than you buy

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

Long on Orderly Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.255%−$26 · spread now +0.245%, 7d avg +0.065%

Together, before fees−0.167%−$17 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: Bitget is 0.180% dearer against Orderly than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2448	0.0100	pay 0.0050% / 4h	1h 30m	$5K	$1.1M	10x
Short	Bitget WIFUSDT	0.2454	0.0100	get 0.0050% / 4h	1h 30m	$7.4M	$15.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.245%Rate

Funding earned: $0
Price spread: +0.245% → +0.065%: $17.99
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$0.01
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago	2.04 bp	14.8 bp −$15	26.1 bp −$261	104.1 bp −$10.4K	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	+0.572%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2449	+0.041%	$978K	$922K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0064%	1h	0.2446	−0.069%	$72K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2453	+0.187%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2447	−0.024%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0042% / S +0.0253%	1h	0.2446	−0.071%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2454	+0.241%	$142K	$701K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2446	−0.082%	$53K	$571K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2455	+0.290%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2453	+0.209%	$31K	$351K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2445	−0.123%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2454	+0.238%	$18.6M	$143.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2453	+0.221%	$16.6M	$47.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2456	+0.327%	$5.5M	$41.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2449	+0.041%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2449	+0.041%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2446	−0.082%	$4.0M	$16.4M	75x	as long as short
Bitget WIFUSDTshort	+0.0100%	4h	0.2454	+0.245%	$7.4M	$15.7M	50x
BingX WIF-USDT	+0.0100%	4h	0.2453	+0.204%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2446	−0.079%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2446	−0.069%	$270K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2448	0.000%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2448	long leg	$5K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2443	−0.204%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2447	−0.020%	$562	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2443	−0.204%	$142K	$909K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2449	+0.027%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2448	−0.016%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0159%	1h	0.2448	0.000%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0348%	1h	0.2450	+0.067%	$634K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2446	−0.082%	$323K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2445	−0.118%	$0	—	15x	as long as short