Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.053%

Price spread now: Coinbase International against Gate−0.040%7-day average +0.146% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.364%+$36 on $10k

Price spread, last 4 days (all we have)+0.284%+$28 · spread now −0.040%, 7d avg +0.146%

Together, before fees+0.648%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.186% cheaper against Gate than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.146%). If the spread goes back, that is −$19 on $10k: about 2.5 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2502	0.0100	pay 0.0050% / 4h	20m 04s	$1.2M	$9.4M	50x
Short	Coinbase International WIF-PERP-INTX	0.2501	0.0352	get 0.0044% / 1h	20m 04s	$333K	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.040%Rate

Funding earned: $52.92
Price spread: −0.040% → +0.146%: −$18.59
Slippage, 4 orders: −$57.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$48.66
Costs to cover: 0.830%
Break-even: 13.4 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 4 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 Gate live order book, 3 min ago	3.99 bp	28.2 bp −$28	61.8 bp −$618	89.8 bp −$8,983	doesn't fit
Sell Coinbase International live order book, 4 min ago	8.00 bp	17.0 bp −$17	29.6 bp −$296	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	−0.0161%	1h	0.2462	−1.599%	$10K	$11K	12x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0155% / S +0.0271%	1h	0.2503	+0.021%	$19K	—	100x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2508	+0.240%	$1.0M	$951K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2499	−0.138%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2501	−0.040%	$33K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2503	+0.034%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0038%	1h	0.2501	−0.020%	$75K	$309K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2504	+0.084%	$143K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2500	−0.080%	$54K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2505	+0.132%	$8.7M	$6.9M	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	0.2503	+0.022%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2499	−0.134%	$78K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2503	+0.036%	$19.1M	$149.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2501	−0.040%	$16.7M	$49.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2501	−0.040%	$5.6M	$43.5M	50x	as long as short
Gate WIF_USDTlong	+0.0100%	4h	0.2502	long leg	$1.2M	$9.4M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2502	0.000%	$22.4M	$12.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2503	+0.040%	$4.2M	$17.1M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2504	+0.080%	$7.6M	$16.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2503	+0.040%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2502	+0.002%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2501	−0.040%	$282K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2505	+0.120%	$45K	$641K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2501	−0.040%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2496	−0.240%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2501	−0.052%	$576	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2495	−0.280%	$158K	$910K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2502	+0.013%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2500	−0.066%	$83K	$85	3x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0352%	1h	0.2501	−0.040%	$333K	$3.4M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2499	−0.136%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0810%	1h	0.2502	+0.018%	$656K	$2.7M	50x	as long as short