Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0259%/8h= −28.3% APRpaid last 24h −0.116%

Price spread now: Deribit against GRVT+0.482%7-day average +0.080% · 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−$22as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.712%−$71 on $10k

Price spread, last 3 days (all we have)−0.351%−$35 · spread now +0.482%, 7d avg +0.080%

Together, before fees−1.064%+ Points / potential airdropGRVT: Active · farm board−$106 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.402% dearer against GRVT than usual: you sell high and buy low (spread +0.482% now, against its 7-day average of +0.080%): +$40 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 5.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT WIF_USDT_Perp	0.2435	0.0100	pay 0.0050% / 4h	5m 22s	$276K	$1.8M	10x
Short	Deribit WIF_USDC-PERPETUAL	0.2447	−0.0158	pay 0.0020% / 1h	5m 22s	$48K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.482%Rate

Funding earned: −$54.29
Price spread: +0.482% → +0.080%: $40.19
Slippage, 4 orders: −$46.21
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$76.3
Costs to cover: 0.622%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Deribit: live order book, 8 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, 3 min ago	4.10 bp	21.8 bp −$22	38.0 bp −$380	doesn't fit	doesn't fit
Sell Deribit live order book, 8 min ago	6.16 bp	9.7 bp −$10	17.9 bp −$179	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	−0.0405%	1h	0.2445	+0.412%	$75K	$250K	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	−0.0158%	1h	0.2447	+0.482%	$48K	$289K	25x
dYdX WIF-USD	0.0000%	1h	0.2448	+0.508%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2449	+0.547%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0014%	4h	0.2447	+0.482%	$4.3M	$11.7M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.653%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0094%	4h	0.2448	+0.523%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2448	+0.535%	$137K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2449	+0.564%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2451	+0.638%	$7.7M	$4.1M	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	0.2449	+0.583%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2448	+0.531%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2448	+0.528%	$18.4M	$104.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2447	+0.494%	$16.9M	$36.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2446	+0.441%	$6.0M	$32.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2448	+0.523%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2448	+0.523%	$22.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2448	+0.523%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2448	+0.523%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2437	+0.078%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2435	long leg	$276K	$1.8M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2435	−0.011%	$43K	$628K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2444	+0.359%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2447	+0.502%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2443	+0.318%	$168K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2446	+0.442%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2447	+0.502%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2449	+0.554%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2449	+0.564%	$321K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0319%	1h	0.2449	+0.558%	$635K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2447	+0.482%	$988K	$736K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2446	+0.427%	$0	—	15x	as long as short