Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.047%

Price spread now: Gate against Coinbase International−0.588%7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$750.753% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.389%−$39 on $10k

Price spread, last 3 days (all we have)+0.325%+$32 · spread now −0.588%, 7d avg −0.155%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.433% cheaper against Coinbase International than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.155%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2380	0.0272	pay 0.0034% / 1h	7m 11s	$312K	$2.3M	50x
Short	Gate WIF_USDT	0.2366	0.0072	get 0.0036% / 4h	2h 07m	$1.2M	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.588%Rate

Funding earned: −$42
Price spread: −0.588% → −0.155%: −$43.34
Slippage, 4 orders: −$50.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$160.63
Costs to cover: 0.753%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Gate: live order book, 1 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, 2 min ago	6.33 bp	15.5 bp −$16	25.5 bp −$255	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.22 bp	26.1 bp −$26	137.5 bp −$1,375	269.2 bp −$26.9K	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	−0.0641%	1h	0.2364	−0.676%	$73K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0595%	1h	0.2366	−0.588%	$46K	$289K	25x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.630%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0184%	4h	0.2364	−0.672%	$4.1M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2369	−0.476%	$627K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2368	−0.514%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2368	−0.517%	$14K	—	150x	as long as short
Variational Omni WIF	+0.0003%	4h	0.2365	−0.612%	$67K	$65K	—	as long as short
Aster WIFUSDT	+0.0054%	4h	0.2367	−0.557%	$23K	$254K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0068%	4h	0.2368	−0.514%	$272K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WIF_USDTshort	+0.0072%	4h	0.2366	−0.588%	$1.2M	$6.9M	50x
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2367	−0.546%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2366	−0.571%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2366	−0.588%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2369	−0.476%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2367	−0.537%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2365	−0.630%	$17.5M	$99.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2364	−0.655%	$16.5M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2367	−0.546%	$6.0M	$30.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2366	−0.588%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2366	−0.588%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2367	−0.546%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2369	−0.462%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2361	−0.798%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2366	−0.597%	$540	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2365	−0.630%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2365	−0.623%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2366	−0.598%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0164% / S −0.0851%	1h	0.2367	−0.539%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0272%	1h	0.2380	long leg	$312K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2363	−0.714%	$969K	$683K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2365	−0.615%	$0	—	15x	as long as short