Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.036%

Price spread now: Coinbase International against OKX+0.169%7-day average +0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$580.579% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.288%+$29 on $10k

Price spread, last 3 days (all we have)+0.071%+$7 · spread now +0.169%, 7d avg +0.136%

Together, before fees+0.359%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.033% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WIF-USDT-SWAP	0.2363	0.0100	pay 0.0050% / 4h	2h 01m	$6.1M	$30.2M	50x
Short	Coinbase International WIF-PERP-INTX	0.2367	0.0272	get 0.0034% / 1h	1m 54s	$311K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.169%Rate

Funding earned: $36.12
Price spread: +0.169% → +0.136%: $3.33
Slippage, 4 orders: −$37.92
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$18.47
Costs to cover: 0.579%
Break-even: 10.6 days

Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 2 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 OKX live order book, 2 min ago	2.12 bp	13.3 bp −$13	32.8 bp −$328	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.23 bp	16.9 bp −$17	28.6 bp −$286	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	−0.0611%	1h	0.2364	+0.030%	$73K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.354%	$10K	$10K	12x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0173%	1h	0.2365	+0.085%	$46K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0164%	4h	0.2364	+0.042%	$4.2M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2367	+0.180%	$626K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2364	+0.034%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2366	+0.117%	$14K	—	150x	as long as short
Variational Omni WIF	+0.0031%	4h	0.2358	−0.195%	$67K	$65K	—	as long as short
Aster WIFUSDT	+0.0061%	4h	0.2364	+0.053%	$23K	$255K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0080%	4h	0.2360	−0.114%	$271K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WIF_USDT	+0.0088%	4h	0.2363	0.000%	$1.2M	$6.9M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2365	+0.085%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2365	+0.102%	$131K	$541K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2364	+0.042%	$52K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2368	+0.195%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2365	+0.103%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2364	+0.041%	$17.5M	$99.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2363	+0.008%	$16.5M	$34.7M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2363	long leg	$6.1M	$30.2M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2364	+0.042%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2365	+0.085%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2364	+0.042%	—	$65.1M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2361	−0.085%	$41K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2360	−0.127%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2364	+0.063%	$540	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2362	−0.042%	$163K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2365	+0.065%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2364	+0.050%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0170% / S −0.0893%	1h	0.2365	+0.095%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0272%	1h	0.2367	+0.169%	$311K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2362	−0.042%	$970K	$685K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2365	+0.101%	$0	—	15x	as long as short