Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.138%

Price spread now: Deribit against SunX+0.125%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1731.734% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.743%−$74 on $10k

Price spread, last 3 days (all we have)+0.111%+$11 · spread now +0.125%, 7d avg +0.179%

Together, before fees−0.633%−$63 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Deribit is 0.054% cheaper against SunX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.179%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2396	0.0100	pay 0.0050% / 4h	1h 42m	$1K	$2.8M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2399	−0.0167	pay 0.0021% / 1h	42m 52s	$47K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$56
Price spread: +0.125% → +0.179%: −$5.39
Slippage, 4 orders: −$158.39
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$234.78
Costs to cover: 1.734%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Deribit: live order book, 41 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, 4 min ago	33.56 bp	91.2 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	6.30 bp	9.8 bp −$10	24.0 bp −$240	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	−0.0216%	1h	0.2399	+0.146%	$75K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	−0.0167%	1h	0.2399	+0.125%	$47K	$289K	25x
KuCoin WIFUSDTM	−0.0090%	4h	0.2402	+0.250%	$4.3M	$11.3M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2402	+0.250%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2400	+0.163%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.042%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2399	+0.125%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2401	+0.200%	$135K	$547K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2402	+0.250%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2405	+0.367%	$7.5M	$4.0M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2402	+0.260%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2403	+0.279%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2405	+0.357%	$17.7M	$99.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2404	+0.334%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2403	+0.292%	$6.1M	$30.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2404	+0.334%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2405	+0.376%	$21.5M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2404	+0.334%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2403	+0.292%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2387	−0.364%	$68K	$65K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2399	+0.125%	$273K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2398	+0.083%	$42K	$618K	25x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2396	long leg	$1K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2399	+0.146%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2396	0.000%	$166K	$717K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2405	+0.358%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2398	+0.092%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0194% / S −0.1054%	1h	0.2399	+0.145%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2403	+0.292%	$316K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2400	+0.167%	$972K	$703K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0377%	1h	0.2402	+0.240%	$630K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2401	+0.201%	$0	—	15x	as long as short