Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.045%

Price spread now: MEXC against Coinbase International+0.042%51s7-day average −0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as 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−$450.452% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 3 days (all we have)−0.374%−$37 · spread now +0.042%, 7d avg −0.178%

Together, before fees−0.704%−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.220% dearer against Coinbase International than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.178%): +$22 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.5 days. The two prices were read 51 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	Coinbase International WIF-PERP-INTX	0.2402	0.0264	pay 0.0033% / 1h	44m 28s	$316K	$2.3M	50x
Short	MEXC WIF_USDT	0.2403	0.0100	get 0.0050% / 4h	1h 44m	$21.5M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$34.44
Price spread: +0.042% → −0.178%: $21.95
Slippage, 4 orders: −$31.16
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$57.65
Costs to cover: 0.452%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	4.18 bp	13.3 bp −$13	27.2 bp −$272	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.09 bp	7.4 bp −$7	29.1 bp −$291	107.3 bp −$10.7K	144.8 bp −$72.4K

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	−0.0228%	1h	0.2398	−0.175%	$75K	$235K	10x	as long as short
KuCoin WIFUSDTM	−0.0096%	4h	0.2402	0.000%	$4.3M	$11.3M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2402	−0.014%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2400	−0.083%	$47K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2403	+0.025%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.291%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2398	−0.167%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2402	0.000%	$134K	$546K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2404	+0.083%	$53K	$483K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2402	−0.004%	$25K	$255K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2405	+0.108%	$7.5M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2402	+0.015%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2405	+0.108%	$17.7M	$99.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2404	+0.083%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2404	+0.083%	$6.1M	$30.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2402	0.000%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2403	+0.042%	$21.5M	$10.6M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2404	+0.083%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2403	+0.042%	—	$65.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2387	−0.613%	$68K	$65K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2387	−0.621%	$271K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2393	−0.375%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2393	−0.375%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2399	−0.146%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2394	−0.333%	$166K	$717K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2403	+0.023%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2398	−0.167%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.1039%	1h	0.2399	−0.144%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0264%	1h	0.2402	long leg	$316K	$2.3M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2397	−0.208%	$971K	$703K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0377%	1h	0.2401	−0.043%	$630K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2402	−0.009%	$0	—	15x	as long as short