Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Popdex−0.162%7-day average −0.206% · 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−$286as in the Price arb table

costs, in and out, $10k−$2912.908% of the position

Long on Popdex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now −0.162%, 7d avg −0.206%

Together, before fees−0.021%−$2 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: SunX is 0.044% dearer against Popdex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.206%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2472	0.0096	pay 0.0012% / 1h	22m 59s	$53K	$571K	20x
Short	SunX WIF-USDT	0.2468	0.0100	get 0.0050% / 4h	1h 22m	$2K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.162%Rate

Funding earned: $0.84
Price spread: −0.162% → −0.206%: $4.4
Slippage, 4 orders: −$276.41
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$285.58
Costs to cover: 2.908%
Break-even: 2386.8 days

Slippage from Popdex: live order book, 21 min ago; SunX: live order book, 5 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, 21 min ago	6.11 bp	84.9 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	32.60 bp	61.5 bp −$62	doesn't fit	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−0.405%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2470	−0.081%	$979K	$935K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0038%	1h	0.2470	−0.061%	$73K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2476	+0.144%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2473	+0.040%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2473	+0.049%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0034% / S +0.0255%	1h	0.2473	+0.033%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2473	+0.044%	$143K	$702K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2472	long leg	$53K	$571K	20x
Hyperliquid WIF	+0.0100%	1h	0.2475	+0.125%	$8.6M	$6.4M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2474	+0.067%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2475	+0.103%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2473	+0.052%	$18.8M	$144.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2472	0.000%	$16.7M	$47.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2474	+0.081%	$5.5M	$41.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2472	0.000%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2471	−0.040%	$22.3M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2472	0.000%	$4.1M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2474	+0.081%	$7.5M	$15.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2471	−0.040%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2473	+0.043%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2460	−0.486%	$283K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2460	−0.485%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2473	+0.040%	$5K	$1.1M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2468	−0.162%	$2K	$3.1M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2472	0.000%	$564	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2472	0.000%	$142K	$908K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2475	+0.118%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2473	+0.028%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0345%	1h	0.2474	+0.089%	$641K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2474	+0.081%	$325K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2471	−0.026%	$0	—	15x	as long as short