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 BingX−0.273%7-day average +0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on BingX 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)+0.558%+$56 · spread now −0.273%, 7d avg +0.130%

Together, before fees+0.839%+$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.403% cheaper against BingX than usual: you would sell low and buy high (spread −0.273% now, against its 7-day average of +0.130%). If the spread goes back, that is −$40 on $10k: about 5.3 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	BingX WIF-USDT	0.2561	0.0100	pay 0.0050% / 4h	3h 25m	—	$23.9M	—
Short	Coinbase International WIF-PERP-INTX	0.2554	0.0352	get 0.0044% / 1h	25m 59s	$363K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.273%Rate

Funding earned: $52.92
Price spread: −0.273% → +0.130%: −$40.31
Slippage, 4 orders: −$51.92
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$59.31
Costs to cover: 0.719%
Break-even: 14.8 days

Slippage from BingX: live order book, 13 min ago; Coinbase International: live order book, 3 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 BingX live order book, 13 min ago	1.95 bp	12.3 bp −$12	19.0 bp −$190	83.9 bp −$8,394	423.2 bp −$211.6K
Sell Coinbase International live order book, 3 min ago	9.74 bp	25.2 bp −$25	214.2 bp −$2,142	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	−0.0194%	4h	0.2558	−0.117%	$1.1M	$908K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2555	−0.253%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2552	−0.340%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	−0.234%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2557	−0.168%	$146K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2552	−0.351%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2560	−0.034%	$45K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2554	−0.259%	$79K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2561	−0.008%	$20.4M	$128.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2560	−0.027%	$17.6M	$42.7M	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	0.2561	0.000%	$6.2M	$39.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2560	−0.039%	$1.2M	$8.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2561	0.000%	$23.8M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2560	−0.039%	$4.3M	$15.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2561	0.000%	$7.9M	$14.4M	50x	as long as short
BingX WIF-USDTlong	+0.0100%	4h	0.2561	long leg	—	$23.9M	—
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2557	−0.156%	$78K	$304K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2551	−0.389%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2568	+0.273%	$294K	$2.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2578	+0.664%	$47K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2553	−0.312%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2549	−0.469%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2553	−0.312%	$598	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2549	−0.469%	$169K	$735K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2560	−0.028%	$12K	$138K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2553	−0.316%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0115% / S +0.0019%	1h	0.2552	−0.343%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0142%	1h	0.2553	−0.312%	$40K	$263K	25x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0352%	1h	0.2554	−0.273%	$363K	$3.0M	50x
Kraken Futures PF_WIFUSD	+0.0360%	1h	0.2554	−0.257%	$665K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2551	−0.409%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0574%	1h	0.2568	+0.266%	$8.5M	$5.2M	5x	as long as short