Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0306%/8h= −33.5% APRpaid last 24h +0.118%

Price spread now: BloFin against Deribit−0.042%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs+$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.080%+$108 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.042%, 7d avg −0.004%

Together, before fees+1.074%+$107 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 BloFin is 0.038% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.004%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.080%, 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	0.2404	0.0166	pay 0.0021% / 1h	37m 00s	$32K	$274K	25x
Short	BloFin WIF-USDT	0.2403	−0.0140	pay 0.0070% / 4h	2h 37m	$1.0M	$897K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$64.29
Price spread: −0.042% → −0.004%: −$3.75
Slippage, 4 orders: −$30.73
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$117.78
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Deribit: live order book, 12 min ago; BloFin: 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 Deribit live order book, 12 min ago	6.12 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	6.27 bp	15.8 bp −$16	21.9 bp −$219	54.6 bp −$5,459	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
BloFin WIF-USDTshort	−0.0140%	4h	0.2403	−0.042%	$1.0M	$897K	75x
Backpack WIF_USDC_PERP	−0.0004%	1h	0.2400	−0.162%	$72K	$316K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2392	−0.499%	$13K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2402	−0.064%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0094% / S +0.0031%	1h	0.2402	−0.082%	$9K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2404	+0.021%	$145K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2402	−0.083%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2402	−0.087%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2398	−0.264%	$29K	$330K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2392	−0.500%	$75K	$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	0.2398	−0.263%	$18.7M	$137.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2398	−0.250%	$16.4M	$45.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2398	−0.250%	$5.5M	$39.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2403	−0.042%	$1.1M	$8.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2403	−0.042%	$21.8M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2402	−0.083%	$4.0M	$15.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2398	−0.250%	$7.3M	$15.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2396	−0.333%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2389	−0.620%	$89K	$173K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2390	−0.585%	$271K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2385	−0.790%	$44K	$627K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2402	−0.083%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2398	−0.250%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2403	−0.046%	$553	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2397	−0.291%	$169K	$778K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2396	−0.317%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2402	−0.083%	$80K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0166%	1h	0.2404	long leg	$32K	$274K	25x
Kraken Futures PF_WIFUSD	+0.0249%	1h	0.2404	+0.018%	$635K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2406	+0.083%	$324K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2400	−0.150%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2398	−0.250%	$10K	$10K	12x	as long as short