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 −0.036%

Price spread now: SunX against Coinbase International−0.245%7-day average −0.337% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1811.809% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.282%−$28 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now −0.245%, 7d avg −0.337%

Together, before fees−0.425%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.092% dearer against Coinbase International than usual: you sell high and buy low (spread −0.245% now, against its 7-day average of −0.337%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2449	0.0264	pay 0.0033% / 1h	45m 06s	$324K	$2.4M	50x
Short	SunX WIF-USDT	0.2443	0.0100	get 0.0050% / 4h	45m 06s	$2K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.245%Rate

Funding earned: −$34.44
Price spread: −0.245% → −0.337%: $9.18
Slippage, 4 orders: −$162.89
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$206.15
Costs to cover: 1.809%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; SunX: live order book, 2 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	4.08 bp	16.9 bp −$17	30.3 bp −$303	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	16.34 bp	77.7 bp −$78	doesn't fit	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	−0.0392%	1h	0.2445	−0.155%	$73K	$249K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2448	−0.054%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2447	−0.082%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2447	−0.082%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.205%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	+0.0038%	4h	0.2447	−0.082%	$4.3M	$11.4M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2447	−0.082%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2447	−0.069%	$138K	$562K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2446	−0.122%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2451	+0.074%	$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	0.2449	−0.011%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2448	−0.027%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2447	−0.082%	$18.3M	$103.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2447	−0.098%	$16.8M	$35.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2447	−0.082%	$6.1M	$32.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2447	−0.082%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2446	−0.122%	$22.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2446	−0.122%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2447	−0.082%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2452	+0.130%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2448	−0.042%	$278K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2445	−0.163%	$43K	$621K	25x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2443	−0.245%	$2K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2447	−0.102%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2443	−0.245%	$168K	$738K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2446	−0.140%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2446	−0.122%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2447	−0.101%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0264%	1h	0.2449	long leg	$324K	$2.4M	50x
Kraken Futures PF_WIFUSD	+0.0319%	1h	0.2449	−0.007%	$640K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2445	−0.163%	$995K	$729K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2446	−0.115%	$0	—	15x	as long as short