Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Popdex+0.242%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1611.606% of the position

Long on Popdex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.290%−$29 · spread now +0.242%, 7d avg −0.008%

Together, before fees−0.284%−$28 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: BingX is 0.250% dearer against Popdex than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2481	0.0096	pay 0.0012% / 1h	27m 59s	$56K	$484K	20x
Short	BingX WIF-USDT	0.2487	0.0100	get 0.0050% / 4h	3h 27m	—	$65.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Popdex. 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 PopdexbpFee BingXbpOrdersPrice spread, now +0.242%Rate

Funding earned: $0.84
Price spread: +0.242% → −0.008%: $25.01
Slippage, 4 orders: −$144.21
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$134.77
Costs to cover: 1.606%
Break-even: 1130.1 days

Slippage from Popdex: live order book, 46 min ago; BingX: live order book, 11 min ago.

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 Popdex live order book, 46 min ago	4.11 bp	78.2 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	4.07 bp	9.1 bp −$9	17.4 bp −$174	74.2 bp −$7,420	516.3 bp −$258.2K

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
Backpack WIF_USDC_PERP	−0.0323%	1h	0.2483	+0.077%	$76K	$254K	10x	as long as short
Gate WIF_USDT	−0.0188%	4h	0.2485	+0.161%	$1.2M	$7.1M	50x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0152%	1h	0.2485	+0.161%	$49K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0032%	4h	0.2482	+0.040%	$4.4M	$12.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2483	+0.065%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2485	+0.142%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.443%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2487	+0.224%	$653K	$2.2M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2487	+0.226%	$142K	$588K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2481	long leg	$56K	$484K	20x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0096%	4h	0.2485	+0.161%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2486	+0.198%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2483	+0.089%	$77K	$52K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2486	+0.220%	$19.1M	$107.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2484	+0.137%	$17.2M	$36.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2484	+0.121%	$6.0M	$33.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2485	+0.161%	$22.5M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2484	+0.121%	$7.6M	$12.1M	50x	as long as short
BingX WIF-USDTshort	+0.0100%	4h	0.2487	+0.242%	—	$65.7M	—
Variational Omni WIF	+0.0100%	4h	0.2487	+0.246%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2492	+0.443%	$281K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2490	+0.363%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2478	−0.121%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2484	+0.129%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2483	+0.081%	$170K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2482	+0.029%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2485	+0.174%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0182%	1h	0.2493	+0.468%	$7.9M	$4.3M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2484	+0.129%	$7K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2483	+0.081%	$333K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2494	+0.524%	$1.0M	$746K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2481	−0.005%	$0	—	15x	as long as short