WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0551%/8h= −60.3% APRnext payment −$0.69 per $10,000 · paid last 24h −0.224%

Price spread now: Backpack against Coinbase International−0.161%7-day average −0.225% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$710.707% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.713%−$71 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now −0.161%, 7d avg −0.225%

Together, before fees−0.854%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.064% dearer against Coinbase International than usual: you sell high and buy low (spread −0.161% now, against its 7-day average of −0.225%): +$6 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2485	0.0328	pay 0.0041% / 1h	31m 21s	$324K	$2.7M	50x
Short	Backpack WIF_USDC_PERP	0.2481	−0.0223	pay 0.0028% / 1h	31m 21s	$79K	$287K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$115.66
Price spread: −0.161% → −0.225%: $6.43
Slippage, 4 orders: −$50.68
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$179.91
Costs to cover: 0.707%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Backpack: live order book, 27 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 Coinbase International live order book, 3 min ago	6.07 bp	24.1 bp −$24	287.7 bp −$2,877	doesn't fit	doesn't fit
Sell Backpack live order book, 27 min ago	0.81 bp	11.6 bp −$12	doesn't fit	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_PERPshort	−0.0223%	1h	0.2481	−0.161%	$79K	$287K	10x
BloFin WIF-USDT	−0.0182%	4h	0.2472	−0.523%	$1.0M	$822K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2486	+0.040%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2488	+0.136%	$804	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.604%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2489	+0.161%	$139K	$630K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2487	+0.080%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2487	+0.071%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2488	+0.101%	$78K	$59K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2489	+0.142%	$18.8M	$118.3M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2486	+0.048%	$16.9M	$39.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2488	+0.121%	$5.9M	$36.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2488	+0.121%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2487	+0.080%	$22.9M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2487	+0.080%	$5.0M	$14.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2488	+0.121%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2489	+0.161%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2457	−1.124%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2462	−0.909%	$279K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−0.523%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2487	+0.080%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2476	−0.362%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2482	−0.101%	$578	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2480	−0.201%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2486	+0.034%	$8K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2482	−0.138%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0136% / S −0.0014%	1h	0.2488	+0.103%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0153%	1h	0.2482	−0.121%	$45K	$260K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0261%	1h	0.2483	−0.072%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0311%	1h	0.2491	+0.258%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0328%	1h	0.2485	long leg	$324K	$2.7M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2487	+0.084%	$0	—	15x	as long as short