Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.044%

Price spread now: Coinbase International against MEXC+0.163%7-day average +0.177% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.329%+$33 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now +0.163%, 7d avg +0.177%

Together, before fees+0.416%+$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.177%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2459	0.0100	pay 0.0050% / 4h	50m 31s	$22.4M	$10.8M	50x
Short	Coinbase International WIF-PERP-INTX	0.2463	0.0264	get 0.0033% / 1h	50m 31s	$333K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.163%Rate

Funding earned: $34.44
Price spread: +0.163% → +0.177%: −$1.4
Slippage, 4 orders: −$32.96
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.92
Costs to cover: 0.470%
Break-even: 9.8 days

Slippage from MEXC: live order book, 3 min ago; Coinbase International: live order book, 3 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 MEXC live order book, 3 min ago	2.03 bp	5.8 bp −$6	21.2 bp −$212	104.2 bp −$10.4K	147.3 bp −$73.6K
Sell Coinbase International live order book, 3 min ago	6.08 bp	22.3 bp −$22	34.7 bp −$347	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	−0.0423%	1h	0.2458	−0.028%	$73K	$249K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2461	+0.064%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2464	+0.203%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2464	+0.203%	$15K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0016%	4h	0.2460	+0.041%	$4.3M	$11.4M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.603%	$10K	$10K	12x	as long as short
ApeX Omni WIFUSDT	+0.0083%	1h	0.2466	+0.285%	$43K	$620K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2463	+0.163%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2461	+0.081%	$138K	$562K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2458	−0.041%	$54K	$484K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2461	+0.089%	$7.6M	$4.0M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2461	+0.062%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2461	+0.074%	$78K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2459	−0.010%	$18.5M	$102.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2457	−0.073%	$16.9M	$35.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2456	−0.122%	$6.1M	$32.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2459	0.000%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2459	long leg	$22.4M	$10.8M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2458	−0.041%	$7.6M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2459	0.000%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2466	+0.291%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2470	+0.431%	$275K	$1.8M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2458	−0.041%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2462	+0.122%	$564	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2459	0.000%	$169K	$722K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2457	−0.080%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2462	+0.114%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2463	+0.179%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0264%	1h	0.2463	+0.163%	$333K	$2.4M	50x
Kraken Futures PF_WIFUSD	+0.0317%	1h	0.2464	+0.213%	$658K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2459	0.000%	$997K	$729K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2457	−0.094%	$0	—	15x	as long as short