Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.120%

Price spread now: Deribit against KuCoin+0.083%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.595%−$60 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now +0.083%, 7d avg +0.007%

Together, before fees−0.504%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.077% dearer against KuCoin than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of +0.007%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−0.595% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WIFUSDTM	0.2397	−0.0068	get 0.0034% / 4h	1h 27m	$4.1M	$11.5M	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2399	−0.0167	pay 0.0021% / 1h	27m 29s	$47K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$20.72
Price spread: +0.083% → +0.007%: $7.68
Slippage, 4 orders: −$37.68
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.72
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Deribit: live order book, 56 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 KuCoin live order book, 6 min ago	2.09 bp	19.9 bp −$20	67.8 bp −$678	doesn't fit	doesn't fit
Sell Deribit live order book, 56 min ago	6.30 bp	9.8 bp −$10	24.0 bp −$240	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	−0.0305%	1h	0.2395	−0.079%	$73K	$246K	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	−0.0167%	1h	0.2399	+0.083%	$47K	$289K	25x
KuCoin WIFUSDTMlong	−0.0068%	4h	0.2397	long leg	$4.1M	$11.5M	75x
dYdX WIF-USD	0.0000%	1h	0.2397	−0.013%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2400	+0.125%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.083%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2398	+0.042%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2398	+0.038%	$135K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2400	+0.125%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2403	+0.238%	$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	0.2398	+0.052%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2397	+0.011%	$76K	$50K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2400	+0.125%	$17.8M	$100.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2399	+0.083%	$16.6M	$35.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2398	+0.042%	$6.0M	$31.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2398	+0.042%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2397	0.000%	$21.4M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2400	+0.125%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2398	+0.042%	—	$65.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2396	−0.054%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2400	+0.125%	$266K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2397	0.000%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2395	−0.083%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2397	−0.004%	$549	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2400	+0.125%	$166K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2398	+0.044%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2399	+0.071%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0212% / S −0.1182%	1h	0.2400	+0.127%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2405	+0.334%	$317K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2401	+0.167%	$983K	$705K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0377%	1h	0.2399	+0.083%	$628K	$2.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2399	+0.070%	$0	—	15x	as long as short