Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.125%

Price spread now: Deribit against Gate+0.083%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

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

costs, in and out, $10k−$700.695% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.637%−$64 on $10k

Price spread, last 3 days (all we have)+0.025%+$2 · spread now +0.083%, 7d avg −0.005%

Together, before fees−0.612%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.088% dearer against Gate than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.005%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.637% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2423	0.0100	pay 0.0050% / 4h	31m 04s	$1.2M	$7.0M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2425	0	get 0.0000% / 1h	31m 04s	$48K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$21
Price spread: +0.083% → −0.005%: $8.76
Slippage, 4 orders: −$47.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$81.75
Costs to cover: 0.695%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Deribit: live order book, 48 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, 2 min ago	4.13 bp	28.0 bp −$28	43.0 bp −$430	68.5 bp −$6,851	doesn't fit
Sell Deribit live order book, 48 min ago	4.13 bp	7.6 bp −$8	16.8 bp −$168	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	−0.0420%	1h	0.2422	−0.021%	$72K	$248K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2421	−0.100%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2425	+0.083%	$48K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2426	+0.108%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.156%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	+0.0048%	4h	0.2423	0.000%	$4.3M	$11.6M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2425	+0.083%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2424	+0.062%	$136K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2423	0.000%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2427	+0.169%	$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	0.2425	+0.100%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2421	−0.096%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2423	+0.020%	$18.0M	$103.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2423	0.000%	$16.7M	$36.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2423	0.000%	$6.0M	$31.9M	50x	as long as short
Gate WIF_USDTlong	+0.0100%	4h	0.2423	long leg	$1.2M	$7.0M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2424	+0.041%	$21.9M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2424	+0.041%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2420	−0.124%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2424	+0.050%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2423	+0.003%	$275K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2426	+0.124%	$43K	$624K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2422	−0.041%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2424	+0.041%	$553	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2419	−0.165%	$168K	$740K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2424	+0.024%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2424	+0.059%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2426	+0.109%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2424	+0.041%	$319K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0322%	1h	0.2427	+0.155%	$632K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2422	−0.041%	$984K	$724K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2425	+0.071%	$0	—	15x	as long as short