Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.125%

Price spread now: Deribit against Binance−0.222%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.694%−$69 on $10k

Price spread, last 3 days (all we have)+0.279%+$28 · spread now −0.222%, 7d avg +0.001%

Together, before fees−0.414%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.224% cheaper against Binance than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2511	0.0100	pay 0.0050% / 4h	3h 15m	$19.3M	$108.0M	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2505	0	get 0.0000% / 1h	15m 29s	$49K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$21
Price spread: −0.222% → +0.001%: −$22.36
Slippage, 4 orders: −$28.65
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$89.01
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Deribit: live order book, 58 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, 12 min ago	2.01 bp	11.2 bp −$11	31.4 bp −$314	119.3 bp −$11.9K	doesn't fit
Sell Deribit live order book, 58 min ago	6.16 bp	9.7 bp −$10	17.9 bp −$179	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
Backpack WIF_USDC_PERP	−0.0189%	1h	0.2506	−0.194%	$77K	$255K	10x	as long as short
Gate WIF_USDT	−0.0162%	4h	0.2509	−0.063%	$1.3M	$7.2M	50x	as long as short
KuCoin WIFUSDTM	−0.0044%	4h	0.2508	−0.103%	$4.5M	$12.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2507	−0.158%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2505	−0.222%	$49K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2503	−0.298%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.616%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2509	−0.055%	$658K	$2.3M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2509	−0.071%	$149K	$595K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2511	+0.017%	$57K	$496K	20x	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	+0.0098%	4h	0.2504	−0.262%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2508	−0.085%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2508	−0.084%	$78K	$51K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2511	long leg	$19.3M	$108.0M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2509	−0.051%	$17.3M	$37.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2509	−0.063%	$6.0M	$34.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2509	−0.063%	$22.7M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2511	+0.017%	$7.7M	$12.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2508	−0.103%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2503	−0.317%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	−0.581%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	−0.621%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2497	−0.541%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2508	−0.103%	$570	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2503	−0.302%	$172K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2508	−0.084%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2505	−0.217%	$84K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0188% / S −0.0049%	1h	0.2503	−0.310%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0203%	1h	0.2515	+0.176%	$8.0M	$4.2M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2507	−0.143%	$338K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2493	−0.700%	$1.0M	$705K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2509	−0.058%	$1	—	15x	as long as short