Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.018%

Price spread now: dYdX against Orderly+0.102%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.102% dearer against Orderly than usual: you sell high and buy low (spread +0.102% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2475	0.0100	pay 0.0050% / 4h	51m 01s	$6K	$1.1M	10x
Short	dYdX WIF-USD	0.2478	0	get 0.0000% / 1h	51m 01s	$13K	$587	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$21
Price spread: +0.102% → 0.000%: $10.22
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$26.78
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: 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 Orderly no order-book sample	—	—	—	—	—
Sell dYdX no order-book sample	—	—	—	—	—

Orderly and dYdX: 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	−0.0161%	1h	0.2462	−0.525%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2474	−0.040%	$990K	$945K	75x	as long as short
dYdX WIF-USDshort	0.0000%	1h	0.2478	+0.102%	$13K	$587	10x
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2475	0.000%	$33K	$272K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2475	+0.014%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0009% / S +0.0237%	1h	0.2477	+0.067%	$19K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2476	+0.057%	$142K	$698K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2476	+0.040%	$54K	$574K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2477	+0.065%	$8.7M	$6.8M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2476	+0.046%	$30K	$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	0.2479	+0.171%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2475	+0.018%	$18.8M	$145.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2475	−0.016%	$16.7M	$47.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2473	−0.081%	$5.5M	$42.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2474	−0.040%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2474	−0.040%	$22.1M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2474	−0.040%	$4.3M	$16.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2474	−0.040%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2475	0.000%	—	$27.2M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2472	−0.101%	$74K	$301K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2469	−0.241%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2482	+0.276%	$275K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−0.121%	$45K	$635K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2475	long leg	$6K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2470	−0.202%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2475	−0.004%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2470	−0.202%	$154K	$948K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2473	−0.087%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2475	−0.020%	$83K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2480	+0.202%	$327K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2477	+0.064%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0819%	1h	0.2476	+0.044%	$644K	$2.7M	50x	as long as short