Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0466%/8h= −51.0% APRpaid last 24h −0.155%

Price spread now: Orderly against Reya+0.045%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Orderly

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.045% dearer against Reya than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WIFRUSDPERP	0.2405	0.0558	pay 0.0070% / 1h	32m 13s	$0	—	15x
Short	Orderly PERP_WIF_USDC	0.2406	0.0092	get 0.0046% / 4h	3h 32m	$5K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Reya. 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 ReyabpFee OrderlybpOrdersPrice spread, now +0.045%Rate

Funding earned: −$97.77
Price spread: +0.045% → 0.000%: $4.48
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$105.29
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Orderly: 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and Orderly: 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
Backpack WIF_USDC_PERP	−0.0604%	1h	0.2407	+0.086%	$72K	$234K	10x	as long as short
Variational Omni WIF	−0.0151%	4h	0.2401	−0.162%	$68K	$51K	—	as long as short
KuCoin WIFUSDTM	−0.0090%	4h	0.2403	−0.080%	$4.2M	$10.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2409	+0.168%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2409	+0.170%	$48K	$291K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2408	+0.116%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.413%	$10K	$10K	12x	as long as short
Aster WIFUSDT	+0.0051%	4h	0.2406	+0.040%	$23K	$253K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0063% / S −0.0129%	1h	0.2407	+0.103%	$4K	—	100x	as long as short
Orderly PERP_WIF_USDCshort	+0.0092%	4h	0.2406	+0.045%	$5K	$1.3M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WIF	+0.0096%	1h	0.2407	+0.091%	$133K	$539K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2403	−0.080%	$53K	$483K	20x	as long as short
Pacifica WIF	+0.0100%	1h	0.2407	+0.088%	$74K	$46K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2406	+0.045%	$18.0M	$97.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2406	+0.045%	$16.9M	$34.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2405	+0.003%	$6.2M	$30.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2405	+0.003%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2405	+0.003%	$21.8M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2407	+0.086%	$7.3M	$11.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2403	−0.080%	—	$2.3M	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2389	−0.664%	$275K	$1.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2407	+0.086%	$42K	$612K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2400	−0.205%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2406	+0.024%	$544	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2407	+0.086%	$166K	$708K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2407	+0.073%	$9K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2406	+0.056%	$80K	$85	3x	as long as short
Hyperliquid WIF	+0.0221%	1h	0.2411	+0.249%	$7.3M	$3.7M	5x	as long as short
Kraken Futures PF_WIFUSD	+0.0221%	1h	0.2408	+0.128%	$645K	$2.1M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0296%	1h	0.2412	+0.294%	$317K	$2.4M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2407	+0.086%	$1.0M	$693K	75x	as long as short
Reya WIFRUSDPERPlong	+0.0558%	1h	0.2405	long leg	$0	—	15x