Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h −0.106%

Price spread now: Deribit against BingX+0.313%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.719%−$72 on $10k

Price spread, last 4 days (all we have)−0.233%−$23 · spread now +0.313%, 7d avg −0.028%

Together, before fees−0.952%−$95 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.342% dearer against BingX than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.028%. Mind the row above: over the last 7 days funding on this pair cost −0.719%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDT	0.2552	0.0100	pay 0.0050% / 4h	3h 26m	—	$23.9M	—
Short	Deribit WIF_USDC-PERPETUAL	0.2560	0.0141	get 0.0018% / 1h	26m 29s	$40K	$263K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.313%Rate

Funding earned: $8.56
Price spread: +0.313% → −0.028%: $34.16
Slippage, 4 orders: −$18.83
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $6.89
Costs to cover: 0.358%
Break-even: 1.4 days

Slippage from BingX: live order book, 12 min ago; Deribit: live order book, 27 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, 12 min ago	1.95 bp	12.3 bp −$12	19.0 bp −$190	83.9 bp −$8,394	423.2 bp −$211.6K
Sell Deribit live order book, 27 min ago	3.91 bp	7.4 bp −$7	21.5 bp −$215	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	+0.235%	$1.1M	$908K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2555	+0.099%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2559	+0.285%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.118%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2561	+0.364%	$147K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2552	0.000%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2554	+0.065%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2554	+0.092%	$79K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2552	0.000%	$20.3M	$127.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2550	−0.078%	$17.5M	$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	0.2551	−0.039%	$6.2M	$38.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2552	0.000%	$1.2M	$8.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2553	+0.039%	$23.5M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2558	+0.235%	$4.3M	$15.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2551	−0.039%	$7.8M	$14.4M	50x	as long as short
BingX WIF-USDTlong	+0.0100%	4h	0.2552	long leg	—	$23.9M	—
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2557	+0.200%	$78K	$304K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2573	+0.825%	$97K	$136K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2568	+0.627%	$294K	$2.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2578	+1.019%	$47K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2559	+0.274%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2556	+0.157%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2560	+0.333%	$600	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2553	+0.039%	$168K	$735K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2550	−0.068%	$12K	$145K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2559	+0.274%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0115% / S +0.0004%	1h	0.2559	+0.289%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALshort	+0.0141%	1h	0.2560	+0.313%	$40K	$263K	25x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2562	+0.392%	$348K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0359%	1h	0.2562	+0.381%	$666K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2551	−0.058%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0563%	1h	0.2557	+0.180%	$8.5M	$5.2M	5x	as long as short