Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.058%

Price spread now: Orderly against Deribit0.000%7-day average −0.015% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.597%+$60 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now 0.000%, 7d avg −0.015%

Together, before fees+0.596%+$60 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2507	−0.0149	get 0.0019% / 1h	50m 20s	$33K	$255K	25x
Short	Orderly PERP_WIF_USDC	0.2507	0.0095	get 0.0048% / 4h	1h 50m	$5K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: $51.26
Price spread: 0.000% → −0.015%: $1.53
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $39.79
Costs to cover: 0.130%
Break-even: 1.6 days

Slippage unknown: Deribit: live order book, 61 min ago; Orderly: no order-book sample. Net counts fees only.

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, 61 min ago	3.90 bp	11.3 bp −$11	21.1 bp −$211	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

WIF on 32 exchanges

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	−0.0389%	1h	0.2559	+2.074%	$10K	$28K	12x	as long as short
Deribit WIF_USDC-PERPETUALlong	−0.0149%	1h	0.2507	long leg	$33K	$255K	25x
BloFin WIF-USDT	−0.0140%	4h	0.2517	+0.399%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0117% / S +0.0179%	1h	0.2516	+0.373%	$9K	—	100x	as long as short
Backpack WIF_USDC_PERP	−0.0012%	1h	0.2511	+0.164%	$85K	$363K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2508	+0.057%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2516	+0.342%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDCshort	+0.0095%	4h	0.2507	0.000%	$5K	$1.0M	10x
Lighter WIF	+0.0096%	1h	0.2511	+0.176%	$139K	$878K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2510	+0.120%	$53K	$634K	20x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2510	+0.114%	$9.9M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2509	+0.082%	$32K	$420K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2509	+0.091%	$78K	$97K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2508	+0.047%	$20.1M	$172.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2506	−0.040%	$17.2M	$58.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2509	+0.080%	$6.1M	$50.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2510	+0.120%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2508	+0.040%	$22.4M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2508	+0.040%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2509	+0.080%	$7.6M	$19.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2506	−0.040%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2512	+0.194%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2515	+0.300%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2518	+0.439%	$36K	$647K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2503	−0.160%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2507	+0.016%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2510	+0.120%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2507	−0.014%	$9K	$263K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2507	0.000%	$84K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2522	+0.598%	$341K	$3.9M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2513	+0.225%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0572%	1h	0.2509	+0.066%	$643K	$3.0M	50x	as long as short