Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0037%/8h= −4.1% APRpaid last 24h +0.018%

Price spread now: Binance against Kraken Futures−0.281%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now −0.281%, 7d avg −0.058%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.222% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.058%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2473	0.0137	pay 0.0017% / 1h	34m 51s	$648K	$2.3M	50x
Short	Binance WIFUSDT	0.2466	0.0100	get 0.0050% / 4h	1h 34m	$18.8M	$114.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.281%Rate

Funding earned: −$7.85
Price spread: −0.281% → −0.058%: −$22.23
Slippage, 4 orders: −$56.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$106.15
Costs to cover: 0.761%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Binance: 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 Kraken Futures live order book, 4 min ago	10.16 bp	24.8 bp −$25	57.2 bp −$572	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	2.02 bp	10.2 bp −$10	28.2 bp −$282	102.3 bp −$10.2K	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	−0.0176%	4h	0.2472	−0.057%	$1.0M	$824K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2465	−0.360%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2473	−0.003%	$799	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0008%	1h	0.2470	−0.122%	$78K	$280K	10x	as long as short
Gate WIF_USDT	+0.0032%	4h	0.2467	−0.259%	$1.2M	$7.5M	50x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.138%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2473	−0.005%	$140K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2471	−0.098%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2471	−0.077%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2465	−0.336%	$76K	$56K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDTshort	+0.0100%	4h	0.2466	−0.281%	$18.8M	$114.4M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2461	−0.490%	$16.9M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2462	−0.461%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2466	−0.300%	$22.2M	$11.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2471	−0.098%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2462	−0.461%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2463	−0.421%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2463	−0.420%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2461	−0.512%	$283K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2465	−0.340%	$42K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2473	−0.017%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2468	−0.219%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	−0.037%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2468	−0.219%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2468	−0.206%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2472	−0.060%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0137%	1h	0.2473	long leg	$648K	$2.3M	50x
Deribit WIF_USDC-PERPETUAL	+0.0155%	1h	0.2472	−0.057%	$46K	$258K	25x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0156% / S −0.0027%	1h	0.2474	+0.026%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0284%	1h	0.2467	−0.271%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2473	−0.017%	$330K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2471	−0.105%	$0	—	15x	as long as short