Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.095%

Price spread now: SunX against Deribit+0.163%7-day average −0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1701.700% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.706%+$71 on $10k

Price spread, last 4 days (all we have)−0.417%−$42 · spread now +0.163%, 7d avg −0.179%

Together, before fees+0.289%+$29 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 SunX is 0.343% dearer against Deribit than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2448	0	get 0.0000% / 1h	29m 16s	$33K	$274K	25x
Short	SunX WIF-USDT	0.2452	0.0100	get 0.0050% / 4h	1h 29m	$2K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.163%Rate

Funding earned: $21
Price spread: +0.163% → −0.179%: $34.28
Slippage, 4 orders: −$155.05
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$114.77
Costs to cover: 1.700%
Break-even: 45.3 days

Slippage from Deribit: live order book, 14 min ago; SunX: live order book, 9 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, 14 min ago	6.10 bp	9.6 bp −$10	20.1 bp −$201	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	32.60 bp	61.5 bp −$62	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	+0.572%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2449	+0.041%	$978K	$922K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0061%	1h	0.2456	+0.319%	$73K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2453	+0.187%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2448	long leg	$33K	$274K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2447	−0.024%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0042% / S +0.0253%	1h	0.2446	−0.071%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2458	+0.413%	$142K	$702K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2454	+0.245%	$53K	$571K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2454	+0.257%	$8.5M	$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	0.2453	+0.201%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2456	+0.343%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2452	+0.164%	$18.6M	$143.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2450	+0.090%	$16.5M	$47.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2449	+0.041%	$5.5M	$41.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2451	+0.123%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2450	+0.082%	$22.2M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2450	+0.082%	$4.1M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2450	+0.082%	$7.4M	$15.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2451	+0.123%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2446	−0.079%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	+0.054%	$270K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2448	0.000%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2450	+0.082%	$5K	$1.1M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2452	+0.163%	$2K	$3.1M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2450	+0.078%	$561	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2445	−0.123%	$142K	$909K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2447	−0.034%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2450	+0.066%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0348%	1h	0.2451	+0.116%	$636K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2457	+0.368%	$323K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2448	−0.006%	$0	—	15x	as long as short