Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.010%

Price spread now: Gate against Popdex+0.976%53s7-day average −0.024% · 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—prices read too far apart to compare

costs, in and out, $10k−$1871.872% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−1.008%−$101 · spread now +0.976%, 7d avg −0.024%

Together, before fees−1.019%−$102 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 1.001% dearer against Popdex than usual: you sell high and buy low (spread +0.976% now, against its 7-day average of −0.024%): +$100 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 4 days (−0.011% in total) that is about 11 months. The two prices were read 53 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	Popdex WIFUSDT	0.2458	0.0096	pay 0.0012% / 1h	56m 45s	$56K	$496K	20x
Short	Gate WIF_USDT	0.2482	0.0046	get 0.0023% / 4h	1h 56m	$1.3M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.976%Rate

Funding earned: −$10.5
Price spread: +0.976% → −0.024%: $100.08
Slippage, 4 orders: −$165.82
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$97.64
Costs to cover: 1.872%
Break-even: never at this rate

Slippage from Popdex: live order book, 7 min ago; Gate: live order book, 2 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, 7 min ago	4.04 bp	62.4 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.03 bp	22.7 bp −$23	105.8 bp −$1,058	171.8 bp −$17.2K	doesn't fit

WIF on 31 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	−0.0303%	1h	0.2464	+0.244%	$80K	$273K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2478	+0.797%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2460	+0.081%	$46K	$263K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2459	+0.059%	$795	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.488%	$11K	$10K	12x	as long as short
Gate WIF_USDTshort	+0.0046%	4h	0.2482	+0.976%	$1.3M	$7.4M	50x
Lighter WIF	+0.0096%	1h	0.2480	+0.875%	$140K	$627K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2458	long leg	$56K	$496K	20x
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2460	+0.081%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2470	+0.479%	$35K	$283K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2482	+0.958%	$77K	$55K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2481	+0.923%	$18.9M	$113.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2487	+1.180%	$17.1M	$38.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2487	+1.180%	$5.9M	$35.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2487	+1.180%	$22.1M	$10.8M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2484	+1.058%	$4.5M	$13.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2488	+1.221%	$7.6M	$12.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2482	+0.976%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2470	+0.491%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2465	+0.299%	$281K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2466	+0.325%	$42K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2456	−0.081%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2460	+0.081%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2456	−0.081%	$166K	$689K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2487	+1.176%	$8K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2460	+0.081%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2462	+0.146%	$640K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0163% / S −0.0032%	1h	0.2461	+0.118%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0241%	1h	0.2479	+0.846%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2458	0.000%	$326K	$2.5M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2457	−0.026%	$0	—	15x	as long as short