Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.091%

Price spread now: Deribit against OKX0.000%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.698%−$70 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now 0.000%, 7d avg −0.025%

Together, before fees−0.642%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.025% dearer against OKX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.025%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.698% in total) that is about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WIF-USDT-SWAP	0.2532	0.0100	pay 0.0050% / 4h	42m 22s	$5.8M	$43.5M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2532	0	get 0.0000% / 1h	42m 22s	$34K	$273K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → −0.025%: $2.54
Slippage, 4 orders: −$30.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$66.41
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Deribit: live order book, 61 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, 1 min ago	1.97 bp	16.0 bp −$16	37.2 bp −$372	doesn't fit	doesn't fit
Sell Deribit live order book, 61 min ago	6.10 bp	9.6 bp −$10	21.9 bp −$219	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
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−2.765%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2536	+0.158%	$998K	$961K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0045% / S +0.0248%	1h	0.2532	+0.013%	$20K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2531	−0.020%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2532	0.000%	$34K	$273K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2532	+0.014%	$354	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2535	+0.103%	$144K	$705K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2530	−0.079%	$54K	$575K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2536	+0.150%	$8.9M	$6.8M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2533	+0.038%	$31K	$351K	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	0.2533	+0.049%	$79K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2533	+0.031%	$19.3M	$147.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2532	0.000%	$16.9M	$48.3M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2532	long leg	$5.8M	$43.5M	50x
Gate WIF_USDT	+0.0100%	4h	0.2532	0.000%	$1.2M	$9.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2533	+0.039%	$22.6M	$12.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2534	+0.079%	$4.4M	$16.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2531	−0.039%	$7.7M	$16.0M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2533	+0.039%	—	$27.1M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2536	+0.178%	$75K	$303K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2532	0.000%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2544	+0.481%	$282K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2544	+0.474%	$47K	$637K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2532	0.000%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2526	−0.237%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2531	−0.039%	$576	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2534	+0.079%	$161K	$916K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2532	−0.007%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2532	−0.019%	$84K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2534	+0.079%	$343K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2533	+0.022%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0800%	1h	0.2533	+0.037%	$661K	$2.7M	50x	as long as short