Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.111%

Price spread now: BingX against Deribit0.000%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs+$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.725%+$72 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now 0.000%, 7d avg +0.024%

Together, before fees+0.604%+$60 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.024% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.024%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.725%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2496	0.0151	pay 0.0019% / 1h	28m 07s	$45K	$260K	25x
Short	BingX WIF-USDT	0.2496	0.0100	get 0.0050% / 4h	28m 07s	—	$23.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$10.67
Price spread: 0.000% → +0.024%: −$2.4
Slippage, 4 orders: −$20.79
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$50.86
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Deribit: live order book, 30 min ago; BingX: live order book, 10 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, 30 min ago	6.05 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	2.03 bp	9.2 bp −$9	20.6 bp −$206	79.0 bp −$7,896	526.9 bp −$263.4K

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	−0.0185%	1h	0.2495	−0.060%	$77K	$291K	10x	as long as short
BloFin WIF-USDT	−0.0181%	4h	0.2488	−0.321%	$996K	$827K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2492	−0.179%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2496	+0.008%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.042%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2498	+0.080%	$140K	$630K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2495	−0.040%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2497	+0.050%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2492	−0.164%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2496	0.000%	$18.8M	$118.5M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2495	−0.044%	$17.0M	$39.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2495	−0.040%	$6.0M	$36.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2497	+0.040%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2495	−0.040%	$23.0M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2495	−0.040%	$4.6M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2495	−0.040%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDTshort	+0.0100%	4h	0.2496	0.000%	—	$23.5M	—
Variational Omni WIF	+0.0100%	4h	0.2485	−0.438%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2488	−0.321%	$282K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−0.962%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2495	−0.040%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.240%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	−0.020%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2494	−0.080%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2494	−0.066%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2495	−0.058%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0135% / S −0.0013%	1h	0.2495	−0.038%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0151%	1h	0.2496	long leg	$45K	$260K	25x
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2497	+0.028%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0311%	1h	0.2500	+0.172%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2495	−0.040%	$328K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	+0.084%	$0	—	15x	as long as short