Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.083%

Price spread now: Binance against Deribit−0.061%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.656%+$66 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.061%, 7d avg 0.000%

Together, before fees+0.662%+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.060% cheaper against Deribit than usual: you would sell low and buy high (spread −0.061% now, against its 7-day average of 0.000%). If the spread goes back, that is −$6 on $10k: about 2.0 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.656% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2514	0	get 0.0000% / 1h	46m 53s	$33K	$272K	25x
Short	Binance WIFUSDT	0.2512	0.0100	get 0.0050% / 4h	46m 53s	$19.1M	$145.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.061%Rate

Funding earned: $21
Price spread: −0.061% → 0.000%: −$6.03
Slippage, 4 orders: −$25.76
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$27.79
Costs to cover: 0.428%
Break-even: 16.3 days

Slippage from Deribit: live order book, 57 min ago; Binance: live order book, 11 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 Deribit live order book, 57 min ago	6.10 bp	9.6 bp −$10	20.1 bp −$201	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	2.02 bp	12.7 bp −$13	27.4 bp −$274	111.9 bp −$11.2K	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	−0.0161%	1h	0.2462	−2.068%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2509	−0.199%	$1.0M	$959K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0045% / S +0.0248%	1h	0.2513	−0.038%	$20K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2509	−0.179%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2514	long leg	$33K	$272K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2514	0.000%	$351	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2513	−0.052%	$144K	$698K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2516	+0.080%	$55K	$573K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2512	−0.091%	$8.8M	$6.8M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2512	−0.073%	$31K	$351K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2510	−0.156%	$78K	$70K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2512	−0.061%	$19.1M	$145.9M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2513	−0.024%	$16.9M	$47.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2520	+0.239%	$5.7M	$42.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2512	−0.080%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2511	−0.119%	$22.4M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2512	−0.080%	$4.4M	$16.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2521	+0.278%	$7.6M	$15.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2513	−0.040%	—	$27.1M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2509	−0.195%	$75K	$301K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2473	−1.630%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2473	−1.616%	$274K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2484	−1.193%	$45K	$635K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2513	−0.040%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2506	−0.318%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2509	−0.219%	$572	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2504	−0.398%	$156K	$948K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2511	−0.127%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2512	−0.070%	$84K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2520	+0.239%	$336K	$3.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2514	+0.003%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0808%	1h	0.2510	−0.141%	$653K	$2.7M	50x	as long as short