Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.093%

Price spread now: Binance against Deribit+0.042%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs+$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.666%+$67 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.042%, 7d avg +0.006%

Together, before fees+0.555%+$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.036% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2375	0	get 0.0000% / 1h	27m 15s	$32K	$274K	25x
Short	Binance WIFUSDT	0.2376	0.0100	get 0.0050% / 4h	2h 27m	$18.4M	$138.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.042%Rate

Funding earned: $21
Price spread: +0.042% → +0.006%: $3.6
Slippage, 4 orders: −$25.09
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.5
Costs to cover: 0.421%
Break-even: 12.8 days

Slippage from Deribit: live order book, 21 min ago; Binance: 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 Deribit live order book, 21 min ago	6.12 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	2.10 bp	13.7 bp −$14	31.1 bp −$311	104.6 bp −$10.5K	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
BloFin WIF-USDT	−0.0140%	4h	0.2377	+0.084%	$973K	$891K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2379	+0.151%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2375	long leg	$32K	$274K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2375	+0.015%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0015%	1h	0.2379	+0.168%	$73K	$317K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0090% / S +0.0029%	1h	0.2374	−0.037%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2378	+0.114%	$144K	$669K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2378	+0.126%	$50K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2378	+0.143%	$8.4M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2376	+0.057%	$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	0.2378	+0.113%	$75K	$69K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2376	+0.042%	$18.4M	$138.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2374	−0.042%	$16.1M	$46.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2374	−0.042%	$5.4M	$39.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2375	0.000%	$1.1M	$8.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2375	0.000%	$21.4M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2376	+0.042%	$3.9M	$16.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2374	−0.042%	$7.2M	$15.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2374	−0.042%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2382	+0.300%	$87K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2378	+0.143%	$269K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2384	+0.379%	$44K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2374	−0.042%	$4K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2373	−0.084%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2375	+0.013%	$548	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2373	−0.084%	$153K	$829K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2374	−0.028%	$8K	$161K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2375	−0.001%	$79K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0251%	1h	0.2377	+0.074%	$616K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2386	+0.463%	$320K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2374	−0.036%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2398	+0.968%	$10K	$10K	12x	as long as short