Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h +0.106%

Price spread now: HTX against Deribit−0.274%7-day average +0.515% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$1391.393% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.900%+$90 on $10k

Price spread, last 4 days (all we have)+0.655%+$65 · spread now −0.274%, 7d avg +0.515%

Together, before fees+1.554%+$155 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.789% cheaper against Deribit than usual: you would sell low and buy high (−$79 if the spread goes back to its 7-day average of +0.515%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.900%, 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	0.2557	0.0141	pay 0.0018% / 1h	52m 26s	$46K	$256K	25x
Short	HTX WIF-USDT	0.2550	0.0100	get 0.0050% / 4h	3h 52m	$170K	$711K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.274%Rate

Funding earned: −$8.64
Price spread: −0.274% → +0.515%: −$78.87
Slippage, 4 orders: −$120.26
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$226.76
Costs to cover: 1.393%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; HTX: live order book, 1 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, 1 min ago	3.91 bp	7.4 bp −$7	17.0 bp −$170	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	1.96 bp	80.7 bp −$81	doesn't fit	doesn't fit	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-USDT	−0.0215%	4h	0.2555	−0.078%	$1.0M	$908K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2557	−0.018%	$15K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2561	+0.169%	$828	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2542	−0.587%	$11K	$10K	12x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2559	+0.078%	$51K	$544K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2553	−0.157%	$36K	$299K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2556	−0.029%	$79K	$62K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2558	+0.057%	$20.0M	$123.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2556	−0.043%	$17.4M	$41.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2557	0.000%	$6.2M	$38.3M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WIF_USDT	+0.0100%	4h	0.2556	−0.039%	$1.2M	$8.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2561	+0.156%	$23.6M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2555	−0.078%	$4.5M	$14.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2558	+0.039%	$7.8M	$13.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2558	+0.039%	—	$23.5M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2556	−0.035%	$79K	$302K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2556	−0.057%	$95K	$83K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2538	−0.727%	$288K	$2.4M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2558	+0.039%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2553	−0.156%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2556	−0.020%	$591	$5K	5x	as long as short
HTX WIF-USDTshort	+0.0100%	4h	0.2550	−0.274%	$170K	$711K	75x
Extended WIF-USD	+0.0104%	1h	0.2558	+0.051%	$10K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2557	+0.020%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0123% / S −0.0006%	1h	0.2562	+0.176%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0141%	1h	0.2557	long leg	$46K	$256K	25x
Lighter WIF	+0.0152%	1h	0.2555	−0.082%	$140K	$628K	10x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2553	−0.156%	$347K	$2.9M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0359%	1h	0.2559	+0.069%	$663K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0497%	1h	0.2562	+0.203%	$8.4M	$5.0M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2557	−0.016%	$1	—	15x	as long as short
ApeX Omni WIFUSDT	+0.0656%	1h	0.2557	0.000%	$47K	$624K	25x	as long as short