Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.045%

Price spread now: MEXC against Coinbase International−0.084%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$480.475% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 3 days (all we have)−0.180%−$18 · spread now −0.084%, 7d avg −0.176%

Together, before fees−0.511%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.092% dearer against Coinbase International than usual: you sell high and buy low (spread −0.084% now, against its 7-day average of −0.176%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2376	0.0272	pay 0.0034% / 1h	27m 07s	$310K	$2.3M	50x
Short	MEXC WIF_USDT	0.2374	0.0100	get 0.0050% / 4h	2h 27m	$21.2M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$36.12
Price spread: −0.084% → −0.176%: $9.16
Slippage, 4 orders: −$33.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$74.5
Costs to cover: 0.475%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	4.22 bp	13.4 bp −$13	22.9 bp −$229	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.11 bp	9.5 bp −$9	21.1 bp −$211	90.9 bp −$9,092	147.7 bp −$73.9K

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	−0.0694%	1h	0.2374	−0.093%	$73K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.800%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0202%	4h	0.2372	−0.168%	$4.2M	$11.2M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0171%	1h	0.2375	−0.042%	$47K	$289K	25x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2376	−0.004%	$622K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0043%	4h	0.2365	−0.446%	$67K	$47K	—	as long as short
dYdX WIF-USD	0.0000%	1h	0.2369	−0.299%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2374	−0.094%	$14K	—	150x	as long as short
Aster WIFUSDT	+0.0014%	4h	0.2371	−0.204%	$23K	$254K	10x	as long as short
Gate WIF_USDT	+0.0014%	4h	0.2372	−0.168%	$1.2M	$6.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0014%	4h	0.2363	−0.564%	$263K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2373	−0.126%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2375	−0.059%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2371	−0.210%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2378	+0.093%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2370	−0.232%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2374	−0.086%	$17.6M	$99.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2373	−0.135%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2376	0.000%	$6.1M	$30.0M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2374	−0.084%	$21.2M	$10.8M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2375	−0.042%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2371	−0.210%	—	$2.3M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2367	−0.379%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2366	−0.421%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2374	−0.105%	$541	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2370	−0.253%	$164K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2373	−0.117%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2374	−0.079%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0140% / S −0.0680%	1h	0.2374	−0.091%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0272%	1h	0.2376	long leg	$310K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2370	−0.253%	$970K	$689K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2372	−0.151%	$0	—	15x	as long as short