Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.041%

Price spread now: BingX against Coinbase International−0.335%7-day average −0.207% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$890.887% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.335%, 7d avg −0.207%

Together, before fees−0.299%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BingX is 0.128% cheaper against Coinbase International than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.207%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2386	0.0416	pay 0.0052% / 1h	28m 10s	$320K	$3.0M	50x
Short	BingX WIF-USDC	0.2378	0.0100	get 0.0050% / 4h	2h 28m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$66.36
Price spread: −0.335% → −0.207%: −$12.82
Slippage, 4 orders: −$68.65
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$167.83
Costs to cover: 0.887%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; BingX: 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 Coinbase International live order book, 1 min ago	10.51 bp	30.2 bp −$30	302.1 bp −$3,021	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	2.10 bp	16.7 bp −$17	62.4 bp −$624	316.7 bp −$31.7K	761.1 bp −$380.6K

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	−0.0140%	4h	0.2381	−0.210%	$975K	$888K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2376	−0.436%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2379	−0.293%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2379	−0.279%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0015%	1h	0.2379	−0.293%	$73K	$317K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0091% / S +0.0029%	1h	0.2378	−0.322%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2382	−0.172%	$144K	$668K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2379	−0.293%	$50K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2382	−0.180%	$8.4M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2380	−0.240%	$29K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2376	−0.407%	$75K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2380	−0.240%	$18.4M	$138.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2379	−0.285%	$16.2M	$46.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2379	−0.293%	$5.4M	$39.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2380	−0.251%	$1.1M	$8.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2380	−0.251%	$21.4M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2378	−0.335%	$3.9M	$16.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2379	−0.293%	$7.2M	$15.3M	50x	as long as short
BingX WIF-USDCshort	+0.0100%	4h	0.2378	−0.335%	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2382	−0.162%	$87K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2385	−0.047%	$263K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2384	−0.084%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2380	−0.251%	$4K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2375	−0.461%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2379	−0.285%	$549	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2378	−0.335%	$154K	$829K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2377	−0.384%	$8K	$161K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2379	−0.290%	$79K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0251%	1h	0.2380	−0.255%	$617K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0416%	1h	0.2386	long leg	$320K	$3.0M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2378	−0.330%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2398	+0.503%	$10K	$10K	12x	as long as short