Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.036%

Price spread now: BingX against Coinbase International+0.293%7-day average −0.224% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$950.945% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 on $10k

Price spread, last 3 days (all we have)−0.822%−$82 · spread now +0.293%, 7d avg −0.224%

Together, before fees−1.105%−$110 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.517% dearer against Coinbase International than usual: you sell high and buy low (spread +0.293% now, against its 7-day average of −0.224%): +$52 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2391	0.0264	pay 0.0033% / 1h	53m 22s	$314K	$2.3M	50x
Short	BingX WIF-USDC	0.2398	0.0100	get 0.0050% / 4h	1h 53m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.293%Rate

Funding earned: −$34.44
Price spread: +0.293% → −0.224%: $51.66
Slippage, 4 orders: −$74.51
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$77.3
Costs to cover: 0.945%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; BingX: live order book, 10 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, 5 min ago	6.33 bp	22.3 bp −$22	30.0 bp −$300	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	2.12 bp	25.5 bp −$25	71.4 bp −$714	326.8 bp −$32.7K	766.0 bp −$383.0K

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
Deribit WIF_USDC-PERPETUAL	−0.0169%	1h	0.2388	−0.125%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0126%	4h	0.2389	−0.084%	$4.3M	$11.3M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2391	0.000%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2389	−0.091%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	+0.167%	$10K	$10K	12x	as long as short
Variational Omni WIF	+0.0086%	4h	0.2384	−0.280%	$68K	$65K	—	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2389	−0.084%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0094%	4h	0.2391	−0.014%	$25K	$255K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2392	+0.042%	$133K	$542K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2389	−0.084%	$53K	$482K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2392	+0.025%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2392	+0.023%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2388	−0.124%	$17.7M	$99.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2389	−0.105%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2388	−0.125%	$6.1M	$30.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2390	−0.042%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2389	−0.084%	$21.4M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2389	−0.084%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDCshort	+0.0100%	4h	0.2398	+0.293%	—	$2.3M	—
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2389	−0.079%	$75K	$235K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2398	+0.293%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2399	+0.335%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2383	−0.335%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2388	−0.130%	$547	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2388	−0.125%	$165K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2388	−0.141%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2387	−0.146%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0181% / S −0.0970%	1h	0.2389	−0.080%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0264%	1h	0.2391	long leg	$314K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2388	−0.125%	$965K	$701K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0379%	1h	0.2390	−0.058%	$628K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2387	−0.154%	$0	—	15x	as long as short