Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.018%

Price spread now: gTrade (Gains Network) against Orderly−0.031%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.031% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2449	0.0100	pay 0.0050% / 4h	2h 01m	$5K	$1.1M	10x
Short	gTrade (Gains Network) WIF/USD	0.2448	L +0.0002% / S −0.0001%	get 0.0000% / 1h	1m 30s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.031%Rate

Funding earned: −$20.8
Price spread: −0.031% → 0.000%: −$3.1
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$39.9
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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	−0.0140%	4h	0.2450	+0.041%	$966K	$924K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2446	−0.141%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2448	−0.041%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USDshort	L +0.0002% / S −0.0001%	1h	0.2448	−0.031%	—	—	150x
Backpack WIF_USDC_PERP	+0.0028%	1h	0.2447	−0.082%	$73K	$319K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0076% / S +0.0251%	1h	0.2448	−0.046%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2448	−0.053%	$142K	$679K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2446	−0.122%	$52K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2448	−0.029%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2447	−0.090%	$28K	$340K	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	−0.144%	$77K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2447	−0.090%	$18.5M	$141.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2446	−0.122%	$16.5M	$46.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2445	−0.163%	$5.5M	$40.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2445	−0.163%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2445	−0.163%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2445	−0.163%	$4.1M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2448	−0.041%	$7.4M	$15.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2445	−0.163%	—	$27.2M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.181%	$73K	$190K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2446	−0.122%	$280K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2445	−0.163%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2449	long leg	$5K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2445	−0.163%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2448	−0.024%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2445	−0.163%	$149K	$867K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2444	−0.214%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2448	−0.059%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0244%	1h	0.2450	+0.032%	$633K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2449	0.000%	$321K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2449	+0.003%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−1.960%	$10K	$10K	12x	as long as short