Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0509%/8h= −55.7% APRpaid last 24h −0.179%

Price spread now: Deribit against BloFin+0.633%57s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.554% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.133%−$113 on $10k

Price spread, last 3 days (all we have)−0.585%−$58 · spread now +0.633%, 7d avg 0.000%

Together, before fees−1.718%−$172 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.633% dearer against BloFin than usual: you sell high and buy low (spread +0.633% now, against its 7-day average of 0.000%): +$63 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 4.1 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WIF-USDT	0.2370	0.0340	pay 0.0170% / 4h	2h 25m	$970K	$689K	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2385	−0.0169	pay 0.0021% / 1h	25m 46s	$47K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.633%Rate

Funding earned: −$106.91
Price spread: +0.633% → 0.000%: $63.33
Slippage, 4 orders: −$36.45
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$99.02
Costs to cover: 0.554%
Break-even: from the start

Slippage from BloFin: live order book, 61 min ago; Deribit: live order book, 62 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, 61 min ago	4.18 bp	10.2 bp −$10	16.9 bp −$169	56.7 bp −$5,672	doesn't fit
Sell Deribit live order book, 62 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	−0.0669%	1h	0.2384	+0.582%	$74K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.055%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0196%	4h	0.2383	+0.549%	$4.2M	$11.2M	75x	as long as short
Deribit WIF_USDC-PERPETUALshort	−0.0169%	1h	0.2385	+0.633%	$47K	$289K	25x
Kraken Futures PF_WIFUSD	−0.0076%	1h	0.2386	+0.683%	$630K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0043%	4h	0.2365	−0.194%	$67K	$47K	—	as long as short
dYdX WIF-USD	0.0000%	1h	0.2383	+0.545%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2385	+0.622%	$15K	—	150x	as long as short
GRVT WIF_USDT_Perp	+0.0014%	4h	0.2363	−0.312%	$263K	$1.8M	10x	as long as short
Aster WIFUSDT	+0.0028%	4h	0.2385	+0.622%	$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
Gate WIF_USDT	+0.0030%	4h	0.2383	+0.549%	$1.2M	$6.9M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2385	+0.633%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2383	+0.557%	$132K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2382	+0.506%	$53K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2386	+0.664%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2382	+0.495%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2383	+0.549%	$17.6M	$99.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2383	+0.544%	$16.7M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2384	+0.591%	$6.0M	$30.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2384	+0.591%	$21.3M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2384	+0.591%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2376	+0.253%	—	$2.3M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2367	−0.127%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2377	+0.295%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2384	+0.612%	$543	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2384	+0.591%	$165K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2382	+0.516%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2384	+0.591%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0142% / S −0.0689%	1h	0.2385	+0.614%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2388	+0.759%	$312K	$2.3M	50x	as long as short
BloFin WIF-USDTlong	+0.0340%	4h	0.2370	long leg	$970K	$689K	75x
Reya WIFRUSDPERP	+0.0558%	1h	0.2383	+0.534%	$0	—	15x	as long as short