Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h +0.106%

Price spread now: MEXC against Deribit−0.364%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs+$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.683%+$68 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.364%, 7d avg −0.015%

Together, before fees+0.711%+$71 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 MEXC is 0.349% cheaper against Deribit than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.683%, 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	34m 40s	$46K	$258K	25x
Short	MEXC WIF_USDT	0.2463	0.0100	get 0.0050% / 4h	1h 34m	$22.2M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.364%Rate

Funding earned: −$11.48
Price spread: −0.364% → −0.015%: −$34.94
Slippage, 4 orders: −$15.39
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$72.81
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Deribit: live order book, 29 min ago; MEXC: live order book, 4 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, 29 min ago	2.02 bp	5.5 bp −$6	16.5 bp −$165	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.03 bp	7.0 bp −$7	19.2 bp −$192	101.9 bp −$10.2K	149.2 bp −$74.6K

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	−0.0176%	4h	0.2472	0.000%	$1.0M	$824K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2463	−0.384%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2473	+0.054%	$799	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0008%	1h	0.2470	−0.065%	$78K	$280K	10x	as long as short
Gate WIF_USDT	+0.0028%	4h	0.2463	−0.364%	$1.2M	$7.5M	50x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.081%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2465	−0.271%	$139K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2467	−0.202%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2471	−0.050%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2463	−0.345%	$76K	$56K	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	0.2464	−0.324%	$18.8M	$114.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2461	−0.437%	$16.9M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2463	−0.364%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2463	−0.364%	$22.2M	$11.0M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2462	−0.405%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2463	−0.364%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2463	−0.364%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2463	−0.363%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2461	−0.455%	$283K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2465	−0.283%	$42K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2473	+0.040%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2468	−0.162%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	+0.020%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2468	−0.162%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2463	−0.371%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2472	−0.003%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0137%	1h	0.2473	+0.057%	$648K	$2.3M	50x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0155%	1h	0.2472	long leg	$46K	$258K	25x
GMX WIF/USD [WBTC.b-USDC]	L +0.0156% / S −0.0027%	1h	0.2474	+0.083%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0284%	1h	0.2467	−0.214%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2473	+0.040%	$330K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2471	−0.048%	$0	—	15x	as long as short