Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1302%/8h= −142.6% APRpaid last 24h −0.171%

Price spread now: Deribit against Binance+0.034%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.034% dearer against Binance than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WUSDT	0.01169	0.0100	pay 0.0050% / 4h	2h 05m	$2.9M	$7.1M	50x
Short	Deribit W_USDC-PERPETUAL	0.01169	−0.1202	pay 0.0150% / 1h	5m 56s	$17K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$273.41
Price spread: +0.034% → 0.000%: $3.42
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$286.98
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 3 min ago; Deribit: no order-book sample. 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 Binance live order book, 3 min ago	3.41 bp	20.8 bp −$21	105.2 bp −$1,052	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

W on 17 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
Deribit W_USDC-PERPETUALshort	−0.1202%	1h	0.01169	+0.034%	$17K	$1K	10x
OKX W-USDT-SWAP	−0.0029%	4h	0.01168	−0.060%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.448%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01169	+0.026%	$2.0M	$450K	5x	as long as short
Binance WUSDTlong	+0.0100%	4h	0.01169	long leg	$2.9M	$7.1M	50x
Bybit WUSDT	+0.0100%	4h	0.01168	−0.068%	$4.1M	$2.0M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01170	+0.111%	$444K	$301K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01169	0.000%	$12.7M	$1.8M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01168	−0.060%	$414K	$217K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01172	+0.282%	$1.3M	$585K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01169	0.000%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01170	+0.137%	$43K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01169	+0.054%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01172	+0.287%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01169	−0.013%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01178	+0.796%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0621%	1h	0.01172	+0.241%	$145K	$185K	20x	as long as short