Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.049%

Price spread now: Coinbase International against GRVT+0.321%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$970.971% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.291%+$29 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now +0.321%, 7d avg +0.058%

Together, before fees+0.500%+ Points / potential airdropGRVT: Active · farm board+$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.263% dearer against GRVT than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT WIF_USDT_Perp	0.2494	0.0100	pay 0.0050% / 4h	3h 39m	$281K	$3.1M	10x
Short	Coinbase International WIF-PERP-INTX	0.2502	0.0312	get 0.0039% / 1h	39m 03s	$341K	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now +0.321%Rate

Funding earned: $44.52
Price spread: +0.321% → +0.058%: $26.3
Slippage, 4 orders: −$78.11
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$26.29
Costs to cover: 0.971%
Break-even: 11.1 days

Slippage from GRVT: live order book, 5 min ago; Coinbase International: live order book, 5 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 GRVT live order book, 5 min ago	6.01 bp	40.5 bp −$40	123.9 bp −$1,239	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	10.00 bp	19.0 bp −$19	31.7 bp −$317	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
Gate WIF_USDT	−0.0484%	4h	0.2489	−0.200%	$1.4M	$11.4M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0369% / S +0.0314%	1h	0.2496	+0.071%	$19K	—	100x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2494	0.000%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2499	+0.200%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2491	−0.120%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2491	−0.103%	$4K	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2492	−0.088%	$144K	$826K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2499	+0.200%	$54K	$580K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2490	−0.160%	$6K	$1.1M	10x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2490	−0.160%	$10.0M	$9.1M	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	0.2492	−0.092%	$40K	$411K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2498	+0.158%	$77K	$88K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2492	−0.087%	$19.7M	$165.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2489	−0.196%	$17.4M	$55.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2490	−0.160%	$5.8M	$48.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2489	−0.200%	$24.3M	$15.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2488	−0.241%	$3.9M	$18.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2490	−0.160%	$7.6M	$18.2M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2491	−0.120%	—	$27.5M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2490	−0.156%	$85K	$334K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2493	−0.037%	$76K	$366K	—	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2494	long leg	$281K	$3.1M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2497	+0.120%	$35K	$652K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2487	−0.281%	$1K	$3.3M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2490	−0.176%	$576	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2486	−0.321%	$153K	$945K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	−0.247%	$12K	$216K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2489	−0.196%	$83K	—	3x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0312%	1h	0.2502	+0.321%	$341K	$3.8M	50x
Injective WIF/USDC PERP	+0.0323%	1h	0.2509	+0.601%	$10K	$28K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2497	+0.125%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0743%	1h	0.2491	−0.139%	$640K	$3.0M	50x	as long as short