Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h −0.069%

Price spread now: Deribit against BloFin+0.475%57s7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.491% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.026%−$103 on $10k

Price spread, last 4 days (all we have)−0.428%−$43 · spread now +0.475%, 7d avg +0.005%

Together, before fees−1.454%−$145 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.470% dearer against BloFin than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 7 days funding on this pair cost −1.026%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WIF-USDT	0.2524	−0.0140	get 0.0070% / 4h	1h 48m	$1.1M	$1.1M	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2536	0	get 0.0000% / 1h	48m 10s	$34K	$254K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.475%Rate

Funding earned: $29.4
Price spread: +0.475% → +0.005%: $47.02
Slippage, 4 orders: −$30.14
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $27.28
Costs to cover: 0.491%
Break-even: 0.5 days

Slippage from BloFin: live order book, 2 min ago; Deribit: live order book, 63 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 BloFin live order book, 2 min ago	3.98 bp	13.4 bp −$13	24.1 bp −$241	96.2 bp −$9,620	doesn't fit
Sell Deribit live order book, 63 min ago	3.90 bp	7.4 bp −$7	22.4 bp −$224	doesn't fit	doesn't fit

WIF on 32 exchanges

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
Injective WIF/USDC PERP	−0.0389%	1h	0.2559	+1.387%	$10K	$28K	12x	as long as short
BloFin WIF-USDTlong	−0.0140%	4h	0.2524	long leg	$1.1M	$1.1M	75x
GMX WIF/USD [WBTC.b-USDC]	L −0.0118% / S +0.0180%	1h	0.2534	+0.406%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2524	+0.017%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2536	+0.475%	$34K	$254K	25x
Backpack WIF_USDC_PERP	+0.0001%	1h	0.2534	+0.408%	$87K	$363K	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2535	+0.436%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0096%	4h	0.2536	+0.475%	$5K	$1.0M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2537	+0.515%	$141K	$879K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2527	+0.119%	$54K	$633K	20x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2536	+0.460%	$10.0M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2536	+0.465%	$32K	$420K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2524	+0.010%	$78K	$98K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2536	+0.465%	$20.4M	$173.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2535	+0.436%	$17.3M	$58.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2536	+0.475%	$6.2M	$51.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2536	+0.475%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2535	+0.436%	$22.6M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2534	+0.396%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2536	+0.475%	$7.7M	$19.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2537	+0.515%	—	$27.6M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2512	−0.481%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2515	−0.375%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2515	−0.357%	$36K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2532	+0.317%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2535	+0.416%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2520	−0.158%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2534	+0.383%	$9K	$259K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2535	+0.436%	$85K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2531	+0.277%	$343K	$4.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2513	−0.450%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0566%	1h	0.2536	+0.492%	$651K	$3.0M	50x	as long as short