Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.063%

Price spread now: Coinbase International against Bybit+0.008%7-day average +0.180% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.444%+$44 on $10k

Price spread, last 3 days (all we have)+0.203%+$20 · spread now +0.008%, 7d avg +0.180%

Together, before fees+0.647%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.172% cheaper against Bybit than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.180%). If the spread goes back, that is −$17 on $10k: about 3.5 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2439	0.0100	pay 0.0050% / 4h	19m 15s	$16.8M	$36.0M	50x
Short	Coinbase International WIF-PERP-INTX	0.2439	0.0264	get 0.0033% / 1h	19m 15s	$320K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.008%Rate

Funding earned: $34.44
Price spread: +0.008% → +0.180%: −$17.22
Slippage, 4 orders: −$34.79
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.57
Costs to cover: 0.558%
Break-even: 14.8 days

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 5 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 Bybit live order book, 4 min ago	2.07 bp	11.6 bp −$12	26.4 bp −$264	186.0 bp −$18.6K	doesn't fit
Sell Coinbase International live order book, 5 min ago	6.20 bp	15.3 bp −$15	27.9 bp −$279	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	−0.0380%	1h	0.2430	−0.373%	$72K	$248K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2434	−0.197%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2440	+0.049%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2440	+0.032%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0022%	4h	0.2436	−0.115%	$4.3M	$11.6M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.796%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2440	+0.049%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2435	−0.156%	$136K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2437	−0.074%	$54K	$485K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2441	+0.094%	$7.6M	$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	0.2436	−0.124%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2435	−0.171%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2439	+0.006%	$18.2M	$103.9M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2439	long leg	$16.8M	$36.0M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2437	−0.074%	$6.0M	$32.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2438	−0.033%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2439	+0.008%	$22.0M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2440	+0.049%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2438	−0.033%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2425	−0.559%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2422	−0.699%	$275K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2418	−0.853%	$42K	$626K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2435	−0.156%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2438	−0.029%	$556	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2433	−0.238%	$168K	$744K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2438	−0.051%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2439	+0.007%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2440	+0.040%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0264%	1h	0.2439	+0.008%	$320K	$2.4M	50x
Kraken Futures PF_WIFUSD	+0.0320%	1h	0.2440	+0.042%	$633K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2424	−0.607%	$980K	$729K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2438	−0.027%	$0	—	15x	as long as short