Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.106%

Price spread now: Deribit against MEXC−0.041%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.683%−$68 on $10k

Price spread, last 4 days (all we have)+0.377%+$38 · spread now −0.041%, 7d avg +0.015%

Together, before fees−0.306%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.055% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2466	0.0100	pay 0.0050% / 4h	1h 33m	$22.2M	$11.0M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2465	0	get 0.0000% / 1h	33m 58s	$46K	$258K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$21
Price spread: −0.041% → +0.015%: −$5.53
Slippage, 4 orders: −$15.39
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$52.92
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Deribit: live order book, 30 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, 5 min ago	2.03 bp	8.4 bp −$8	22.6 bp −$226	109.3 bp −$10.9K	152.2 bp −$76.1K
Sell Deribit live order book, 30 min ago	2.02 bp	5.5 bp −$6	20.1 bp −$201	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	−0.0176%	4h	0.2472	+0.243%	$1.0M	$824K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2463	−0.142%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2465	−0.041%	$46K	$258K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2464	−0.069%	$797	—	150x	as long as short
Gate WIF_USDT	+0.0028%	4h	0.2465	−0.041%	$1.2M	$7.5M	50x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.162%	$11K	$10K	12x	as long as short
Backpack WIF_USDC_PERP	+0.0037%	1h	0.2464	−0.085%	$77K	$280K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2467	+0.045%	$140K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2467	+0.041%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2467	+0.031%	$34K	$283K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2463	−0.102%	$76K	$56K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2467	+0.036%	$18.8M	$114.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2466	−0.008%	$17.0M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2468	+0.081%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2466	long leg	$22.2M	$11.0M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2466	0.000%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2466	0.000%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2460	−0.243%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2463	−0.121%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2461	−0.213%	$283K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2465	−0.041%	$42K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2465	−0.041%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2466	0.000%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2466	0.000%	$570	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2459	−0.284%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2464	−0.069%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2465	−0.041%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2467	+0.027%	$646K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0156% / S −0.0027%	1h	0.2465	−0.046%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0291%	1h	0.2470	+0.182%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2466	0.000%	$329K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2466	−0.017%	$0	—	15x	as long as short