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: OKX against Popdex−0.203%53s7-day average −0.013% · you buy dearer than you sell

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−$2552.551% of the position

Long on Popdex Short on OKX

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)+0.083%+$8 · spread now −0.203%, 7d avg −0.013%

Together, before fees+0.090%+$9 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: OKX is 0.190% cheaper against Popdex than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.013%. 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	0.2461	0.0096	pay 0.0012% / 1h	2m 37s	$56K	$496K	20x
Short	OKX WIF-USDT-SWAP	0.2456	0.0100	get 0.0050% / 4h	3h 02m	$5.9M	$33.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.203%Rate

Funding earned: $0.84
Price spread: −0.203% → −0.013%: −$19
Slippage, 4 orders: −$238.7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$273.26
Costs to cover: 2.551%
Break-even: 2284.2 days

Slippage from Popdex: live order book, 6 min ago; OKX: live order book, 1 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, 6 min ago	34.50 bp	99.1 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.03 bp	13.2 bp −$13	36.8 bp −$368	doesn't fit	doesn't fit

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
Gate WIF_USDT	−0.0216%	4h	0.2455	−0.244%	$1.2M	$7.3M	50x	as long as short
Backpack WIF_USDC_PERP	−0.0132%	1h	0.2459	−0.102%	$76K	$257K	10x	as long as short
KuCoin WIFUSDTM	−0.0074%	4h	0.2461	0.000%	$5.0M	$12.5M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2462	+0.024%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2462	+0.041%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2461	0.000%	$795	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.366%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2462	+0.059%	$642K	$2.3M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2463	+0.089%	$146K	$596K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2461	long leg	$56K	$496K	20x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2463	+0.081%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2463	+0.079%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2462	+0.031%	$76K	$52K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2460	−0.032%	$18.7M	$109.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2457	−0.179%	$16.9M	$37.5M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2456	−0.203%	$5.9M	$33.9M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2459	−0.081%	$22.3M	$11.2M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2450	−0.447%	$7.4M	$12.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2452	−0.366%	—	$65.8M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	+0.571%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2469	+0.317%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2469	+0.325%	$42K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2458	−0.122%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2462	+0.020%	$556	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2457	−0.163%	$168K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2450	−0.429%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2462	+0.056%	$82K	$85	3x	as long as short
Hyperliquid WIF	+0.0180%	1h	0.2466	+0.203%	$7.9M	$4.5M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0184% / S −0.0046%	1h	0.2461	−0.002%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2462	+0.041%	$322K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2461	0.000%	$1.0M	$696K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2460	−0.047%	$0	—	15x	as long as short