Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h +0.120%

Price spread now: KuCoin against Deribit−0.083%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$710.711% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.595%+$60 on $10k

Price spread, last 3 days (all we have)−0.091%−$9 · spread now −0.083%, 7d avg −0.007%

Together, before fees+0.504%+$50 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 KuCoin is 0.077% cheaper against Deribit than usual: you would sell low and buy high (−$8 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 +0.595%, 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	0.2403	0	get 0.0000% / 1h	27m 08s	$47K	$289K	25x
Short	KuCoin WIFUSDTM	0.2401	−0.0068	pay 0.0034% / 4h	1h 27m	$4.1M	$11.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$14.28
Price spread: −0.083% → −0.007%: −$7.66
Slippage, 4 orders: −$52.12
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$93.06
Costs to cover: 0.711%
Break-even: never at this rate

Slippage from Deribit: live order book, 56 min ago; KuCoin: 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, 56 min ago	6.30 bp	9.8 bp −$10	18.7 bp −$187	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	4.18 bp	20.2 bp −$20	55.4 bp −$554	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
Backpack WIF_USDC_PERP	−0.0305%	1h	0.2401	−0.075%	$74K	$246K	10x	as long as short
KuCoin WIFUSDTMshort	−0.0068%	4h	0.2401	−0.083%	$4.1M	$11.5M	75x
dYdX WIF-USD	0.0000%	1h	0.2397	−0.263%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2403	long leg	$47K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2401	−0.099%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.333%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2402	−0.042%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2403	+0.008%	$135K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2400	−0.125%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2406	+0.117%	$7.5M	$4.0M	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	0.2400	−0.133%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2397	−0.239%	$76K	$50K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2402	−0.042%	$17.9M	$100.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2402	−0.042%	$16.6M	$35.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2403	0.000%	$6.0M	$31.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2401	−0.083%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2403	0.000%	$21.5M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2403	0.000%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2403	0.000%	—	$65.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2396	−0.304%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2400	−0.125%	$266K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2397	−0.250%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2396	−0.291%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2402	−0.062%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2398	−0.208%	$166K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2402	−0.059%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2405	+0.082%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0213% / S −0.1190%	1h	0.2401	−0.091%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2405	+0.083%	$317K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2404	+0.042%	$984K	$706K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0376%	1h	0.2404	+0.056%	$629K	$2.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2399	−0.179%	$0	—	15x	as long as short