Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.106%

Price spread now: Deribit against HTX0.000%7-day average −0.510% · you sell dearer than you buy

Net, funding: paid 7d − costs−$229as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1391.393% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.900%−$90 on $10k

Price spread, last 4 days (all we have)−0.348%−$35 · spread now 0.000%, 7d avg −0.510%

Together, before fees−1.247%−$125 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.510% dearer against HTX than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of −0.510%. Mind the row above: over the last 7 days funding on this pair cost −0.900%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX WIF-USDT	0.2550	0.0100	pay 0.0050% / 4h	3h 12m	$168K	$737K	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2550	0.0142	get 0.0018% / 1h	12m 02s	$34K	$272K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $8.89
Price spread: 0.000% → −0.510%: $50.95
Slippage, 4 orders: −$120.26
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$79.42
Costs to cover: 1.393%
Break-even: 69.6 days

Slippage from HTX: live order book, 42 min ago; Deribit: live order book, 41 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 HTX live order book, 42 min ago	1.96 bp	43.8 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	3.91 bp	7.4 bp −$7	21.5 bp −$215	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	−0.0196%	4h	0.2534	−0.627%	$1.1M	$903K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2547	−0.136%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2549	−0.027%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.196%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2550	+0.016%	$146K	$653K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2545	−0.196%	$53K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2546	−0.159%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2547	−0.105%	$79K	$67K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2547	−0.118%	$20.2M	$130.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2545	−0.188%	$17.5M	$43.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2546	−0.157%	$6.1M	$39.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2546	−0.157%	$1.2M	$8.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2546	−0.157%	$23.7M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2545	−0.196%	$4.3M	$15.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2546	−0.157%	$7.8M	$14.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2545	−0.196%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2546	−0.153%	$76K	$306K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2550	+0.002%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2542	−0.323%	$286K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2550	0.000%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2552	+0.078%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2547	−0.118%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2549	−0.059%	$592	$5K	5x	as long as short
HTX WIF-USDTlong	+0.0100%	4h	0.2550	long leg	$168K	$737K	75x
Extended WIF-USD	+0.0104%	1h	0.2549	−0.048%	$12K	$115K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2550	−0.017%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0109% / S +0.0022%	1h	0.2549	−0.021%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALshort	+0.0142%	1h	0.2550	0.000%	$34K	$272K	25x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2548	−0.078%	$339K	$3.1M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0361%	1h	0.2549	−0.025%	$666K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2548	−0.075%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0718%	1h	0.2553	+0.129%	$8.7M	$5.3M	5x	as long as short