Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0349%/8h= −38.2% APRpaid last 24h +0.115%

Price spread now: Gate against Deribit−0.081%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.636%+$64 on $10k

Price spread, last 3 days (all we have)−0.005%$0 · spread now −0.081%, 7d avg +0.007%

Together, before fees+0.632%+$63 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Gate is 0.087% cheaper against Deribit than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.007%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.636%, 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	0.2472	0.0155	pay 0.0019% / 1h	53m 18s	$49K	$289K	25x
Short	Gate WIF_USDT	0.2470	−0.0194	pay 0.0097% / 4h	2h 53m	$1.2M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.081%Rate

Funding earned: −$73.22
Price spread: −0.081% → +0.007%: −$8.75
Slippage, 4 orders: −$54.84
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$158.82
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from Deribit: live order book, 15 min ago; Gate: 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, 15 min ago	6.07 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	4.07 bp	30.0 bp −$30	114.6 bp −$1,146	191.4 bp −$19.1K	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	−0.0783%	1h	0.2470	−0.081%	$11K	$10K	12x	as long as short
Gate WIF_USDTshort	−0.0194%	4h	0.2470	−0.081%	$1.2M	$7.3M	50x
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2472	−0.011%	$644K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0042%	4h	0.2471	−0.040%	$4.5M	$12.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2466	−0.259%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2470	−0.066%	$798	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2473	+0.044%	$147K	$596K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2467	−0.202%	$56K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2472	0.000%	$5K	$1.3M	10x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2470	−0.065%	$7.9M	$4.6M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2469	−0.137%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2465	−0.294%	$76K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2474	+0.098%	$18.6M	$110.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2473	+0.053%	$16.9M	$37.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2474	+0.081%	$5.9M	$34.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2475	+0.121%	$22.4M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2472	0.000%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2459	−0.526%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2461	−0.441%	$78K	$266K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2439	−1.330%	$74K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2454	−0.731%	$279K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2457	−0.607%	$42K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2468	−0.162%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	0.000%	$562	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2465	−0.283%	$168K	$747K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2471	−0.044%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2472	−0.015%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0155%	1h	0.2472	long leg	$49K	$289K	25x
GMX WIF/USD [WBTC.b-USDC]	L +0.0181% / S −0.0044%	1h	0.2471	−0.047%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2474	+0.081%	$324K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2471	−0.040%	$1.0M	$704K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2469	−0.116%	$0	—	15x	as long as short