Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.063%

Price spread now: Bybit against Coinbase International−0.041%7-day average −0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.444%−$44 on $10k

Price spread, last 3 days (all we have)−0.170%−$17 · spread now −0.041%, 7d avg −0.180%

Together, before fees−0.614%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.139% dearer against Coinbase International than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.180%): +$14 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2427	0.0264	pay 0.0033% / 1h	29m 47s	$319K	$2.4M	50x
Short	Bybit WIFUSDT	0.2426	0.0100	get 0.0050% / 4h	29m 47s	$16.7M	$36.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$34.44
Price spread: −0.041% → −0.180%: $13.92
Slippage, 4 orders: −$38.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$80.29
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	6.17 bp	15.2 bp −$15	27.0 bp −$270	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.06 bp	14.2 bp −$14	28.0 bp −$280	174.5 bp −$17.5K	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	−0.0413%	1h	0.2423	−0.157%	$72K	$248K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2427	−0.018%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2426	−0.041%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2426	−0.057%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.319%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	+0.0046%	4h	0.2423	−0.165%	$4.3M	$11.6M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2425	−0.082%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2427	+0.004%	$136K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2426	−0.041%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2429	+0.078%	$7.5M	$4.0M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2426	−0.030%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2426	−0.021%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2426	−0.021%	$18.0M	$103.5M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2426	−0.041%	$16.7M	$36.0M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2427	0.000%	$6.0M	$31.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2424	−0.124%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2429	+0.082%	$21.9M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2429	+0.082%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2426	−0.041%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2424	−0.114%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2423	−0.162%	$275K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2426	−0.041%	$43K	$624K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2421	−0.247%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2425	−0.099%	$553	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2425	−0.082%	$168K	$740K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2424	−0.142%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2425	−0.097%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2425	−0.077%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0264%	1h	0.2427	long leg	$319K	$2.4M	50x
Kraken Futures PF_WIFUSD	+0.0322%	1h	0.2427	−0.020%	$632K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2422	−0.206%	$984K	$724K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2424	−0.115%	$0	—	15x	as long as short