Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.050%

Price spread now: GRVT against Coinbase International−0.281%76s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.765% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.302%−$30 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.281%, 7d avg −0.037%

Together, before fees−0.239%+ Points / potential airdropGRVT: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.244% cheaper against Coinbase International than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.037%). Swap the legs. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2495	0.0328	pay 0.0041% / 1h	27m 58s	$328K	$2.7M	50x
Short	GRVT WIF_USDT_Perp	0.2488	0.0100	get 0.0050% / 4h	27m 58s	$282K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.281%Rate

Funding earned: −$47.88
Price spread: −0.281% → −0.037%: −$24.38
Slippage, 4 orders: −$57.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$148.78
Costs to cover: 0.765%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; GRVT: 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 Coinbase International live order book, 1 min ago	8.02 bp	17.0 bp −$17	29.2 bp −$292	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	6.02 bp	19.9 bp −$20	58.3 bp −$583	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_PERP	−0.0185%	1h	0.2495	−0.020%	$77K	$291K	10x	as long as short
BloFin WIF-USDT	−0.0181%	4h	0.2488	−0.281%	$996K	$827K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2492	−0.139%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2496	+0.048%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.002%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2498	+0.120%	$140K	$630K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2495	0.000%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2495	−0.014%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2492	−0.124%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2496	+0.059%	$18.8M	$118.5M	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	0.2496	+0.040%	$17.0M	$39.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2498	+0.120%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2497	+0.080%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	+0.080%	$23.0M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2495	0.000%	$4.6M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2497	+0.080%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2493	−0.080%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2485	−0.398%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perpshort	+0.0100%	4h	0.2488	−0.281%	$282K	$2.3M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−0.922%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2495	0.000%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.200%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	+0.020%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2494	−0.040%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2497	+0.065%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2495	−0.018%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0135% / S −0.0013%	1h	0.2495	+0.002%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2496	+0.040%	$45K	$260K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2497	+0.068%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0311%	1h	0.2500	+0.212%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0328%	1h	0.2495	long leg	$328K	$2.7M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	+0.124%	$0	—	15x	as long as short