Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0334%/8h= +36.6% APRpaid last 24h +0.047%

Price spread now: Coinbase International against Gate+0.085%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$770.770% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.389%+$39 on $10k

Price spread, last 3 days (all we have)+0.179%+$18 · spread now +0.085%, 7d avg +0.155%

Together, before fees+0.568%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.070% cheaper against Gate than usual: you would sell low and buy high (spread +0.085% now, against its 7-day average of +0.155%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2365	−0.0062	get 0.0031% / 4h	2h 39m	$1.2M	$6.9M	50x
Short	Coinbase International WIF-PERP-INTX	0.2367	0.0272	get 0.0034% / 1h	39m 18s	$309K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.085%Rate

Funding earned: $70.14
Price spread: +0.085% → +0.155%: −$7.03
Slippage, 4 orders: −$51.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.88
Costs to cover: 0.770%
Break-even: 8.4 days

Slippage from Gate: live order book, 4 min ago; Coinbase International: 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 Gate live order book, 4 min ago	2.11 bp	21.5 bp −$22	44.1 bp −$441	70.3 bp −$7,028	doesn't fit
Sell Coinbase International live order book, 4 min ago	8.44 bp	17.6 bp −$18	30.8 bp −$308	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	−0.0781%	1h	0.2372	+0.304%	$72K	$233K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.268%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0210%	4h	0.2364	−0.042%	$4.2M	$11.1M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0172%	1h	0.2366	+0.042%	$46K	$289K	25x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2366	+0.022%	$620K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0068%	4h	0.2371	+0.233%	$67K	$47K	—	as long as short
Gate WIF_USDTlong	−0.0062%	4h	0.2365	long leg	$1.2M	$6.9M	50x
dYdX WIF-USD	0.0000%	1h	0.2373	+0.328%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2366	+0.032%	$14K	—	150x	as long as short
Aster WIFUSDT	+0.0004%	4h	0.2366	+0.041%	$23K	$254K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0014%	4h	0.2371	+0.253%	$264K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2364	−0.042%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2364	−0.030%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2363	−0.085%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2368	+0.135%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2367	+0.100%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2364	−0.042%	$17.5M	$99.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2364	−0.042%	$16.5M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2364	−0.042%	$6.0M	$29.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2365	0.000%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2365	0.000%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2366	+0.042%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2371	+0.254%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2360	−0.211%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2364	−0.059%	$536	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2360	−0.211%	$163K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2364	−0.033%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2364	−0.021%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0126% / S −0.0580%	1h	0.2366	+0.040%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0272%	1h	0.2367	+0.085%	$309K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2363	−0.085%	$968K	$688K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2365	+0.016%	$0	—	15x	as long as short