Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.039%

Price spread now: Bluefin against Binance+0.092%7-day average +0.183% · you sell dearer than you buy

Net, funding: paid 7d − costs−$500as in the Funding arb table

Net, price: spread back to 7d avg − costs−$363as in the Price arb table

costs, in and out, $10k−$3543.537% of the position

Long on Binance Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.460%−$146 on $10k

Price spread, last 4 days (all we have)+0.743%+$74 · spread now +0.092%, 7d avg +0.183%

Together, before fees−0.717%−$72 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: Bluefin is 0.091% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.183%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WALUSDT	0.03530	0.0100	pay 0.0050% / 4h	28m 20s	$2.4M	$6.9M	75x
Short	Bluefin WAL-PERP	0.03533	0.0100	get 0.0013% / 1h	28m 20s	$32K	$644K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Binance. 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 BinancebpFee BluefinbpOrdersPrice spread, now +0.092%Rate

Funding earned: $0
Price spread: +0.092% → +0.183%: −$9.14
Slippage, 4 orders: −$336.74
Fee Binance: 5 bp × 2 orders: −$10
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$362.88
Costs to cover: 3.537%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Bluefin: live order book, 31 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 Binance live order book, 10 min ago	2.86 bp	22.7 bp −$23	128.2 bp −$1,282	doesn't fit	doesn't fit
Sell Bluefin live order book, 31 min ago	2.85 bp	141.6 bp −$142	doesn't fit	doesn't fit	doesn't fit

WAL on 10 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
Binance WALUSDTlong	+0.0100%	4h	0.03530	long leg	$2.4M	$6.9M	75x
Bybit WALUSDT	+0.0100%	4h	0.03533	+0.092%	$1.4M	$1.8M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03531	+0.035%	$218K	$1.1M	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03533	+0.092%	$296K	$553K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03532	+0.064%	$621K	$294K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03536	+0.177%	$348K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03532	+0.064%	$609K	$935K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03532	+0.064%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03528	−0.053%	$23K	$9K	—	as long as short
Bluefin WAL-PERPshort	+0.0100%	1h	0.03533	+0.092%	$32K	$644K	20x