Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.135%

Price spread now: Deribit against BingX+0.126%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$650.648% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.738%−$74 on $10k

Price spread, last 3 days (all we have)+0.210%+$21 · spread now +0.126%, 7d avg +0.063%

Together, before fees−0.528%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.064% dearer against BingX than usual: you sell high and buy low (spread +0.126% now, against its 7-day average of +0.063%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDC	0.2375	0.0100	pay 0.0050% / 4h	2h 36m	—	$2.3M	—
Short	Deribit WIF_USDC-PERPETUAL	0.2378	−0.0170	pay 0.0021% / 1h	36m 12s	$47K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$56.77
Price spread: +0.126% → +0.063%: $6.37
Slippage, 4 orders: −$47.8
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$115.2
Costs to cover: 0.648%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Deribit: live order book, 52 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 BingX live order book, 2 min ago	2.11 bp	19.7 bp −$20	54.3 bp −$543	302.5 bp −$30.3K	753.3 bp −$376.7K
Sell Deribit live order book, 52 min ago	8.36 bp	16.0 bp −$16	23.7 bp −$237	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	−0.0754%	1h	0.2376	+0.059%	$72K	$233K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.842%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0202%	4h	0.2373	−0.084%	$4.2M	$11.2M	75x	as long as short
Deribit WIF_USDC-PERPETUALshort	−0.0170%	1h	0.2378	+0.126%	$47K	$289K	25x
Kraken Futures PF_WIFUSD	−0.0076%	1h	0.2377	+0.101%	$625K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0068%	4h	0.2371	−0.189%	$67K	$47K	—	as long as short
Gate WIF_USDT	−0.0038%	4h	0.2376	+0.042%	$1.2M	$6.9M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2377	+0.084%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2377	+0.084%	$15K	—	150x	as long as short
Aster WIFUSDT	+0.0010%	4h	0.2377	+0.064%	$23K	$254K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0014%	4h	0.2371	−0.169%	$264K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2376	+0.042%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2377	+0.076%	$132K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2376	+0.042%	$53K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2379	+0.189%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2377	+0.080%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2376	+0.042%	$17.6M	$99.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2376	+0.038%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2377	+0.084%	$6.1M	$30.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2375	0.000%	$21.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2377	+0.084%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDClong	+0.0100%	4h	0.2375	long leg	—	$2.3M	—
ApeX Omni WIFUSDT	+0.0100%	1h	0.2371	−0.168%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2371	−0.168%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2376	+0.021%	$538	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2374	−0.042%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2375	+0.010%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2376	+0.030%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0130% / S −0.0604%	1h	0.2377	+0.095%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2381	+0.253%	$311K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2374	−0.042%	$968K	$689K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2375	+0.018%	$0	—	15x	as long as short