Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0556%/8h= +60.9% APRpaid last 24h +0.025%

Price spread now: Coinbase International against BloFin+0.125%7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$650.653% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now +0.125%, 7d avg +0.160%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.035% cheaper against BloFin than usual: you would sell low and buy high (spread +0.125% now, against its 7-day average of +0.160%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$17 a day). Mind the row above: over the last 7 days funding on this pair cost −0.088%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.088% in total (about -4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WIF-USDT	0.2403	−0.0140	get 0.0070% / 4h	2h 37m	$1.0M	$897K	75x
Short	Coinbase International WIF-PERP-INTX	0.2406	0.0416	get 0.0052% / 1h	37m 02s	$324K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.125%Rate

Funding earned: $116.76
Price spread: +0.125% → +0.160%: −$3.47
Slippage, 4 orders: −$43.27
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $48.02
Costs to cover: 0.653%
Break-even: 4.1 days

Slippage from BloFin: live order book, 5 min ago; Coinbase International: live order book, 2 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 BloFin live order book, 5 min ago	6.27 bp	14.7 bp −$15	25.4 bp −$254	64.4 bp −$6,436	doesn't fit
Sell Coinbase International live order book, 2 min ago	8.38 bp	17.3 bp −$17	30.5 bp −$305	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
BloFin WIF-USDTlong	−0.0140%	4h	0.2403	long leg	$1.0M	$897K	75x
Backpack WIF_USDC_PERP	−0.0004%	1h	0.2400	−0.121%	$72K	$316K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2392	−0.458%	$13K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2402	−0.023%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0094% / S +0.0031%	1h	0.2402	−0.040%	$9K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2404	+0.062%	$145K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2402	−0.042%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2402	−0.046%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2398	−0.222%	$29K	$330K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2392	−0.459%	$75K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2398	−0.221%	$18.7M	$137.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2398	−0.208%	$16.4M	$45.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2398	−0.208%	$5.5M	$39.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2403	0.000%	$1.1M	$8.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2403	0.000%	$21.8M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2402	−0.042%	$4.0M	$15.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2398	−0.208%	$7.3M	$15.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2396	−0.291%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2389	−0.578%	$89K	$173K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2390	−0.543%	$271K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2385	−0.749%	$44K	$627K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2402	−0.042%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2398	−0.208%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2403	−0.004%	$553	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2397	−0.250%	$169K	$778K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2396	−0.275%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2402	−0.042%	$80K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0166%	1h	0.2404	+0.042%	$32K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0249%	1h	0.2404	+0.059%	$635K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0416%	1h	0.2406	+0.125%	$324K	$3.0M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2400	−0.108%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2398	−0.208%	$10K	$10K	12x	as long as short