Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0810%/8h= +88.7% APRpaid last 24h −0.096%

Price spread now: GMX against SunX+0.229%7-day average — · you sell dearer than you buy

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

Long on SunX Short on GMX

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—needs both histories

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and GMX is 0.229% dearer against SunX than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2363	0.0100	pay 0.0050% / 4h	1h 59m	$1K	$2.8M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2368	L +0.0173% / S −0.0910%	get 0.0114% / 1h	59m 54s	$4K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now +0.229%Rate

Funding earned: $170.13
Price spread: +0.229% → 0.000%: $22.89
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $173.02
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: SunX: live order book, 7 min ago; GMX: 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 SunX live order book, 7 min ago	33.88 bp	92.1 bp −$92	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Deribit WIF_USDC-PERPETUAL	−0.0594%	1h	0.2369	+0.254%	$46K	$289K	25x	as long as short
Backpack WIF_USDC_PERP	−0.0589%	1h	0.2366	+0.135%	$74K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.354%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0156%	4h	0.2367	+0.169%	$4.2M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2369	+0.273%	$627K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2368	+0.202%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2368	+0.222%	$14K	—	150x	as long as short
Variational Omni WIF	+0.0054%	4h	0.2364	+0.060%	$67K	$65K	—	as long as short
Aster WIFUSDT	+0.0069%	4h	0.2369	+0.239%	$23K	$255K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0080%	4h	0.2360	−0.114%	$271K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2368	+0.212%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2369	+0.241%	$131K	$541K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2368	+0.212%	$52K	$483K	20x	as long as short
Gate WIF_USDT	+0.0098%	4h	0.2368	+0.212%	$1.2M	$6.9M	50x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2370	+0.279%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2368	+0.192%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2367	+0.157%	$17.5M	$99.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2366	+0.135%	$16.5M	$34.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2366	+0.127%	$6.1M	$30.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2365	+0.085%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2367	+0.169%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2365	+0.085%	—	$65.1M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2361	−0.085%	$41K	$618K	25x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2363	long leg	$1K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2368	+0.212%	$541	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2366	+0.127%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2364	+0.062%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2369	+0.254%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0173% / S −0.0910%	1h	0.2368	+0.229%	$4K	—	100x
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2372	+0.381%	$311K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2366	+0.127%	$971K	$688K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2368	+0.197%	$0	—	15x	as long as short