Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.045%

Price spread now: Coinbase International against MEXC+0.041%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$640.642% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 3 days (all we have)+0.177%+$18 · spread now +0.041%, 7d avg +0.176%

Together, before fees+0.506%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.136% cheaper against MEXC than usual: you would sell low and buy high (spread +0.041% now, against its 7-day average of +0.176%). If the spread goes back, that is −$14 on $10k: about 2.4 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2452	0.0100	pay 0.0050% / 4h	3h 02m	$22.2M	$11.2M	50x
Short	Coinbase International WIF-PERP-INTX	0.2453	0.0288	get 0.0036% / 1h	2m 13s	$321K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.041%Rate

Funding earned: $39.48
Price spread: +0.041% → +0.176%: −$13.57
Slippage, 4 orders: −$50.24
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.33
Costs to cover: 0.642%
Break-even: 13.8 days

Slippage from MEXC: live order book, 1 min ago; Coinbase International: 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 MEXC live order book, 1 min ago	2.03 bp	8.3 bp −$8	29.5 bp −$295	128.7 bp −$12.9K	156.3 bp −$78.2K
Sell Coinbase International live order book, 2 min ago	8.14 bp	27.5 bp −$28	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
Gate WIF_USDT	−0.0216%	4h	0.2449	−0.122%	$1.2M	$7.4M	50x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0157%	1h	0.2454	+0.082%	$48K	$289K	25x	as long as short
Backpack WIF_USDC_PERP	−0.0130%	1h	0.2449	−0.143%	$73K	$259K	10x	as long as short
KuCoin WIFUSDTM	−0.0072%	4h	0.2451	−0.041%	$4.5M	$12.7M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2462	+0.391%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2454	+0.099%	$793	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.734%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2454	+0.069%	$640K	$2.3M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2455	+0.122%	$146K	$597K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2451	−0.041%	$55K	$496K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2454	+0.082%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2452	+0.001%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2462	+0.398%	$76K	$52K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2452	0.000%	$18.7M	$109.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2451	−0.041%	$16.8M	$37.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2450	−0.082%	$5.9M	$33.8M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2452	long leg	$22.2M	$11.2M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2452	0.000%	$7.4M	$12.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2449	−0.122%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	+0.940%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2469	+0.685%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2469	+0.693%	$42K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2448	−0.163%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2452	−0.012%	$556	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2447	−0.204%	$167K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2452	−0.003%	$9K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2454	+0.073%	$82K	$85	3x	as long as short
Hyperliquid WIF	+0.0176%	1h	0.2455	+0.110%	$7.9M	$4.5M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0184% / S −0.0046%	1h	0.2455	+0.106%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0288%	1h	0.2453	+0.041%	$321K	$2.5M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2461	+0.367%	$1.0M	$696K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2452	−0.016%	$0	—	15x	as long as short