Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0193%/8h= +21.2% APRpaid last 24h +0.049%

Price spread now: Coinbase International against Orderly+0.081%7-day average +0.177% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.372%+$37 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now +0.081%, 7d avg +0.177%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.096% cheaper against Orderly than usual: you would sell low and buy high (spread +0.081% now, against its 7-day average of +0.177%). If the spread goes back, that is −$10 on $10k: about 40 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2456	0.0095	pay 0.0047% / 4h	3h 39m	$5K	$1.3M	10x
Short	Coinbase International WIF-PERP-INTX	0.2458	0.0288	get 0.0036% / 1h	39m 56s	$326K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.081%Rate

Funding earned: $40.57
Price spread: +0.081% → +0.177%: −$9.58
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $14.99
Costs to cover: 0.160%
Break-even: 4.4 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 4 min ago	6.14 bp	15.2 bp −$15	26.6 bp −$266	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0389%	1h	0.2452	−0.171%	$75K	$252K	10x	as long as short
Gate WIF_USDT	−0.0018%	4h	0.2452	−0.163%	$1.2M	$7.0M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2445	−0.464%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2456	0.000%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2457	+0.022%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0004%	4h	0.2454	−0.081%	$4.3M	$11.9M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.484%	$10K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2456	−0.009%	$635K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDClong	+0.0095%	4h	0.2456	long leg	$5K	$1.3M	10x
Lighter WIF	+0.0096%	1h	0.2455	−0.045%	$146K	$581K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2448	−0.326%	$54K	$483K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2453	−0.122%	$24K	$258K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2445	−0.463%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2452	−0.166%	$18.5M	$105.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2450	−0.224%	$16.9M	$36.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2448	−0.326%	$6.0M	$32.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2451	−0.204%	$22.1M	$10.9M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2452	−0.163%	$7.6M	$11.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2451	−0.204%	—	$65.8M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2441	−0.606%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2443	−0.523%	$276K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2443	−0.529%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2450	−0.244%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2454	−0.102%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2444	−0.489%	$168K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2449	−0.285%	$11K	$154K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2455	−0.047%	$82K	$85	3x	as long as short
Hyperliquid WIF	+0.0143%	1h	0.2456	−0.008%	$7.7M	$4.1M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2456	+0.008%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0288%	1h	0.2458	+0.081%	$326K	$2.4M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2436	−0.814%	$991K	$733K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2451	−0.188%	$0	—	15x	as long as short