Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h +0.101%

Price spread now: SunX against Deribit−0.250%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1701.704% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.713%+$71 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.250%, 7d avg −0.176%

Together, before fees+0.715%+$72 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 SunX is 0.074% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.176%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.713%, 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	36m 55s	$32K	$274K	25x
Short	SunX WIF-USDT	0.2398	0.0100	get 0.0050% / 4h	2h 36m	$2K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.250%Rate

Funding earned: −$13.89
Price spread: −0.250% → −0.176%: −$7.4
Slippage, 4 orders: −$155.43
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$191.72
Costs to cover: 1.704%
Break-even: never at this rate

Slippage from Deribit: live order book, 12 min ago; SunX: live order book, 11 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 SunX live order book, 11 min ago	32.68 bp	61.7 bp −$62	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	−0.0140%	4h	0.2403	−0.042%	$1.0M	$897K	75x	as long as short
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	0.2401	−0.141%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2399	−0.226%	$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	0.2399	−0.205%	$18.7M	$137.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2399	−0.220%	$16.4M	$45.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2397	−0.291%	$5.5M	$39.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2399	−0.208%	$1.1M	$8.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2398	−0.250%	$21.9M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2398	−0.250%	$3.9M	$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-USDT	+0.0100%	4h	0.2398	−0.250%	—	$27.1M	—	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-USDTshort	+0.0100%	4h	0.2398	−0.250%	$2K	$3.0M	50x
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