Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.041%

Price spread now: OKX against Coinbase International−0.081%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.081%, 7d avg −0.126%

Together, before fees−0.405%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.045% dearer against Coinbase International than usual: you sell high and buy low (spread −0.081% now, against its 7-day average of −0.126%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.284% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2467	0.0384	pay 0.0048% / 1h	58m 21s	$360K	$3.1M	50x
Short	OKX WIF-USDT-SWAP	0.2465	0.0100	get 0.0050% / 4h	1h 58m	$5.5M	$41.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$59.64
Price spread: −0.081% → −0.126%: $4.49
Slippage, 4 orders: −$51.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$127.1
Costs to cover: 0.719%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; OKX: live order book, 5 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	6.07 bp	29.0 bp −$29	319.9 bp −$3,199	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.05 bp	12.4 bp −$12	34.2 bp −$342	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2401	−2.675%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2456	−0.446%	$976K	$927K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2469	+0.061%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2463	−0.153%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0072% / S +0.0252%	1h	0.2464	−0.135%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2470	+0.113%	$143K	$678K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2468	+0.041%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2469	+0.061%	$8.6M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2466	−0.054%	$28K	$349K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2469	+0.064%	$78K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2465	−0.093%	$18.6M	$141.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2464	−0.122%	$16.6M	$46.9M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2465	−0.081%	$5.5M	$41.2M	50x
Gate WIF_USDT	+0.0100%	4h	0.2467	0.000%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2466	−0.041%	$22.6M	$12.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2467	0.000%	$4.2M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2465	−0.081%	$7.5M	$15.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2463	−0.162%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2459	−0.308%	$73K	$296K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2448	−0.768%	$73K	$192K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.727%	$271K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2449	−0.730%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2467	0.000%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2460	−0.284%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2464	−0.122%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2462	−0.203%	$150K	$881K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2463	−0.151%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2466	−0.041%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0156%	1h	0.2465	−0.081%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0346%	1h	0.2465	−0.065%	$637K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0384%	1h	0.2467	long leg	$360K	$3.1M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2465	−0.078%	$0	—	15x	as long as short