Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.068%

Price spread now: Coinbase International against Bybit−0.125%7-day average +0.169% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$620.619% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 4 days (all we have)+0.337%+$34 · spread now −0.125%, 7d avg +0.169%

Together, before fees+0.728%+$73 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.294% cheaper against Bybit than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of +0.169%). If the spread goes back, that is −$29 on $10k: about 3.1 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2391	0.0100	pay 0.0050% / 4h	2h 37m	$16.4M	$45.7M	50x
Short	Coinbase International WIF-PERP-INTX	0.2388	0.0416	get 0.0052% / 1h	37m 50s	$322K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.125%Rate

Funding earned: $66.36
Price spread: −0.125% → +0.169%: −$29.42
Slippage, 4 orders: −$40.9
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.96
Costs to cover: 0.619%
Break-even: 9.6 days

Slippage from Bybit: live order book, 6 min ago; Coinbase International: live order book, 1 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 Bybit live order book, 6 min ago	2.08 bp	15.5 bp −$16	30.0 bp −$300	115.7 bp −$11.6K	doesn't fit
Sell Coinbase International live order book, 1 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-USDT	−0.0140%	4h	0.2386	−0.209%	$1.0M	$890K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0015%	1h	0.2391	+0.004%	$72K	$316K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2382	−0.392%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2392	+0.042%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2386	−0.190%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0095% / S +0.0031%	1h	0.2387	−0.147%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2394	+0.130%	$144K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2385	−0.251%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2395	+0.167%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2391	−0.020%	$29K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2387	−0.171%	$75K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2390	−0.031%	$18.6M	$137.4M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2391	long leg	$16.4M	$45.7M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2393	+0.084%	$5.5M	$39.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2390	−0.042%	$1.1M	$8.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2391	0.000%	$21.7M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2390	−0.042%	$3.9M	$15.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2391	0.000%	$7.3M	$15.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2387	−0.167%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2389	−0.079%	$89K	$173K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2389	−0.094%	$268K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2392	+0.042%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2389	−0.084%	$4K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2389	−0.084%	$1K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2391	−0.013%	$552	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2389	−0.084%	$168K	$778K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2389	−0.089%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2391	0.000%	$80K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0250%	1h	0.2393	+0.102%	$636K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0416%	1h	0.2388	−0.125%	$322K	$3.0M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2386	−0.203%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2393	+0.084%	$10K	$10K	12x	as long as short