Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.040%

Price spread now: Coinbase International against SunX+0.039%7-day average +0.336% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$1891.888% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.280%+$28 on $10k

Price spread, last 4 days (all we have)+0.400%+$40 · spread now +0.039%, 7d avg +0.336%

Together, before fees+0.680%+$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.297% cheaper against SunX than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.336%). If the spread goes back, that is −$30 on $10k: about 3.9 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2547	0.0100	pay 0.0050% / 4h	3h 11m	$2K	$3.0M	50x
Short	Coinbase International WIF-PERP-INTX	0.2548	0.0352	get 0.0044% / 1h	11m 57s	$339K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.039%Rate

Funding earned: $52.92
Price spread: +0.039% → +0.336%: −$29.72
Slippage, 4 orders: −$170.78
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$165.57
Costs to cover: 1.888%
Break-even: 28.9 days

Slippage from SunX: live order book, 6 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 SunX live order book, 6 min ago	33.38 bp	94.9 bp −$95	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	7.89 bp	16.8 bp −$17	29.1 bp −$291	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	−0.0196%	4h	0.2534	−0.510%	$1.1M	$903K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2547	−0.018%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2549	+0.091%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.314%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2550	+0.133%	$146K	$653K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2545	−0.079%	$53K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2544	−0.111%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2547	+0.012%	$79K	$67K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2545	−0.079%	$20.2M	$130.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2543	−0.165%	$17.5M	$43.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2544	−0.118%	$6.1M	$39.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2543	−0.157%	$1.2M	$8.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2544	−0.118%	$23.7M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2547	0.000%	$4.3M	$15.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2544	−0.118%	$7.8M	$14.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2543	−0.157%	—	$26.6M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2546	−0.035%	$76K	$306K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2550	+0.120%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2542	−0.205%	$286K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2550	+0.118%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2552	+0.196%	$5K	$1.3M	10x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2547	long leg	$2K	$3.0M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2549	+0.059%	$592	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2550	+0.118%	$168K	$737K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2543	−0.167%	$11K	$115K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2550	+0.101%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0109% / S +0.0022%	1h	0.2549	+0.097%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0142%	1h	0.2550	+0.118%	$34K	$272K	25x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0352%	1h	0.2548	+0.039%	$339K	$3.1M	50x
Kraken Futures PF_WIFUSD	+0.0361%	1h	0.2549	+0.093%	$666K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2548	+0.043%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0718%	1h	0.2553	+0.247%	$8.7M	$5.3M	5x	as long as short