Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h −0.080%

Price spread now: Deribit against Bybit+0.012%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.607%−$61 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now +0.012%, 7d avg +0.016%

Together, before fees−0.537%−$54 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.607%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2545	0.0100	pay 0.0050% / 4h	3h 11m	$17.5M	$43.1M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2545	0.0143	get 0.0018% / 1h	11m 02s	$34K	$272K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.012%Rate

Funding earned: $9.05
Price spread: +0.012% → +0.016%: −$0.46
Slippage, 4 orders: −$21.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.09
Costs to cover: 0.397%
Break-even: 31.1 days

Slippage from Bybit: live order book, 3 min ago; Deribit: live order book, 42 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, 3 min ago	1.98 bp	13.3 bp −$13	32.6 bp −$326	157.8 bp −$15.8K	doesn't fit
Sell Deribit live order book, 42 min ago	3.91 bp	7.4 bp −$7	21.5 bp −$215	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	−0.0197%	4h	0.2549	+0.169%	$1.1M	$909K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2547	+0.072%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2544	−0.017%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.405%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2547	+0.102%	$146K	$653K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2547	+0.090%	$53K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2546	+0.061%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2546	+0.047%	$79K	$67K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2546	+0.061%	$20.2M	$130.1M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2545	long leg	$17.5M	$43.1M	50x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2545	+0.012%	$6.1M	$39.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2544	−0.028%	$1.2M	$8.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2543	−0.067%	$23.7M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2544	−0.028%	$4.3M	$15.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2545	+0.012%	$7.7M	$14.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2542	−0.106%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2543	−0.059%	$76K	$306K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2542	−0.105%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2537	−0.300%	$285K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2533	−0.460%	$46K	$627K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2544	−0.028%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2541	−0.145%	$1K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2545	+0.031%	$591	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2542	−0.106%	$168K	$737K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2544	−0.036%	$11K	$115K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2545	+0.014%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0109% / S +0.0023%	1h	0.2545	+0.024%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALshort	+0.0143%	1h	0.2545	+0.012%	$34K	$272K	25x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2547	+0.090%	$339K	$3.1M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0361%	1h	0.2546	+0.061%	$665K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2546	+0.064%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0726%	1h	0.2550	+0.224%	$8.7M	$5.3M	5x	as long as short