Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.053%

Price spread now: Orderly against Coinbase International−0.290%7-day average −0.172% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.367%−$37 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.290%, 7d avg −0.172%

Together, before fees−0.230%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Orderly is 0.119% cheaper against Coinbase International than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.172%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2410	0.0416	pay 0.0052% / 1h	21m 22s	$322K	$3.1M	50x
Short	Orderly PERP_WIF_USDC	0.2403	0.0100	get 0.0050% / 4h	2h 21m	$5K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.290%Rate

Funding earned: −$66.36
Price spread: −0.290% → −0.172%: −$11.87
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$94.23
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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	6.28 bp	14.9 bp −$15	28.0 bp −$280	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin WIF-USDT	−0.0142%	4h	0.2386	−0.996%	$976K	$899K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2404	−0.267%	$13K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2403	−0.276%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0011%	1h	0.2405	−0.203%	$74K	$318K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0088% / S +0.0031%	1h	0.2403	−0.291%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2405	−0.191%	$146K	$670K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2409	−0.041%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2407	−0.112%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2406	−0.166%	$29K	$330K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2405	−0.220%	$76K	$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	0.2406	−0.166%	$18.6M	$139.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2404	−0.253%	$16.3M	$46.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2403	−0.290%	$5.5M	$39.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2406	−0.166%	$1.1M	$8.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2405	−0.207%	$21.6M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2409	−0.041%	$4.0M	$16.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2403	−0.290%	$7.3M	$15.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2405	−0.207%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2376	−1.406%	$87K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2383	−1.140%	$275K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2390	−0.830%	$44K	$629K	25x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2403	−0.290%	$5K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2400	−0.415%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2402	−0.311%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2407	−0.124%	$155K	$829K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2401	−0.381%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2404	−0.266%	$80K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0166%	1h	0.2405	−0.207%	$32K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0249%	1h	0.2401	−0.354%	$630K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0416%	1h	0.2410	long leg	$322K	$3.1M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2404	−0.244%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−0.373%	$10K	$10K	12x	as long as short