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: HTX against Coinbase International−0.125%7-day average +0.391% · you buy dearer than you sell

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$1451.450% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 3 days (all we have)+0.268%+$27 · spread now −0.125%, 7d avg +0.391%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and HTX is 0.516% cheaper against Coinbase International than usual: you would sell low and buy high (−$52 if the spread goes back to its 7-day average of +0.391%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2396	0.0264	pay 0.0033% / 1h	29m 50s	$316K	$2.3M	50x
Short	HTX WIF-USDT	0.2393	0.0100	get 0.0050% / 4h	1h 29m	$166K	$718K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$34.44
Price spread: −0.125% → +0.391%: −$51.59
Slippage, 4 orders: −$122.97
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$231
Costs to cover: 1.450%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; HTX: live order book, 54 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	6.24 bp	15.4 bp −$15	28.6 bp −$286	doesn't fit	doesn't fit
Sell HTX live order book, 54 min ago	10.50 bp	81.5 bp −$82	475.2 bp −$4,752	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	−0.0317%	1h	0.2390	−0.234%	$74K	$239K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0168%	1h	0.2393	−0.125%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0080%	4h	0.2392	−0.167%	$4.1M	$11.4M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2394	−0.099%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2394	−0.100%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.042%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2392	−0.167%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2393	−0.117%	$134K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2392	−0.167%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2399	+0.104%	$7.4M	$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	0.2392	−0.170%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2393	−0.124%	$75K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2394	−0.083%	$17.8M	$100.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2394	−0.083%	$16.6M	$35.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2395	−0.042%	$6.0M	$30.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2394	−0.083%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2394	−0.083%	$21.4M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2395	−0.042%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2393	−0.125%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2396	−0.012%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2401	+0.194%	$273K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2400	+0.167%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2389	−0.292%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2393	−0.134%	$550	$5K	5x	as long as short
HTX WIF-USDTshort	+0.0100%	4h	0.2393	−0.125%	$166K	$718K	75x
Extended WIF-USD	+0.0104%	1h	0.2394	−0.082%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2394	−0.075%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0209% / S −0.1166%	1h	0.2394	−0.098%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0264%	1h	0.2396	long leg	$316K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2395	−0.042%	$981K	$705K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0378%	1h	0.2395	−0.027%	$627K	$2.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2392	−0.179%	$0	—	15x	as long as short