Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.042%

Price spread now: OKX against Coinbase International−0.282%7-day average −0.128% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.281%−$28 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.282%, 7d avg −0.128%

Together, before fees−0.170%−$17 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 OKX is 0.154% cheaper against Coinbase International than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.128%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2479	0.0384	pay 0.0048% / 1h	19m 01s	$326K	$3.2M	50x
Short	OKX WIF-USDT-SWAP	0.2472	0.0100	get 0.0050% / 4h	1h 19m	$5.5M	$41.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.282%Rate

Funding earned: −$59.64
Price spread: −0.282% → −0.128%: −$15.45
Slippage, 4 orders: −$39.25
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$134.34
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; OKX: 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, 5 min ago	6.06 bp	18.9 bp −$19	31.0 bp −$310	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.02 bp	12.8 bp −$13	36.2 bp −$362	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−0.686%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2471	−0.323%	$979K	$937K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0038%	1h	0.2472	−0.286%	$73K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2474	−0.222%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2472	−0.282%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2475	−0.144%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0029% / S +0.0256%	1h	0.2472	−0.287%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2476	−0.129%	$143K	$702K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2474	−0.202%	$53K	$571K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2477	−0.097%	$8.6M	$6.4M	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	0.2475	−0.172%	$31K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2475	−0.165%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2474	−0.202%	$18.9M	$144.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2474	−0.218%	$16.7M	$47.5M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2472	−0.282%	$5.5M	$41.7M	50x
Gate WIF_USDT	+0.0100%	4h	0.2472	−0.282%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2473	−0.242%	$22.4M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2472	−0.282%	$4.2M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2473	−0.242%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2475	−0.161%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2474	−0.199%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2473	−0.242%	$280K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2476	−0.121%	$45K	$633K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2472	−0.282%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2467	−0.484%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	−0.303%	$564	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2473	−0.242%	$143K	$911K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2474	−0.206%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2472	−0.282%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0345%	1h	0.2474	−0.199%	$642K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0384%	1h	0.2479	long leg	$326K	$3.2M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2471	−0.318%	$0	—	15x	as long as short