Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.127%

Price spread now: Deribit against MEXC+0.291%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.693%−$69 on $10k

Price spread, last 3 days (all we have)+0.045%+$5 · spread now +0.291%, 7d avg +0.014%

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

The price spread pays, funding is against you. Deribit is 0.277% dearer against MEXC than usual: you sell high and buy low (spread +0.291% now, against its 7-day average of +0.014%): +$28 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.2 days. At the pace of the last 7 days (−0.693% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2402	0.0100	pay 0.0050% / 4h	3h 31m	$21.9M	$10.6M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2409	0	get 0.0000% / 1h	31m 44s	$48K	$291K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.291%Rate

Funding earned: −$21
Price spread: +0.291% → +0.014%: $27.73
Slippage, 4 orders: −$29.98
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$34.24
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Deribit: live order book, 17 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, 2 min ago	2.08 bp	10.1 bp −$10	21.9 bp −$219	96.1 bp −$9,611	144.9 bp −$72.5K
Sell Deribit live order book, 17 min ago	6.29 bp	9.8 bp −$10	17.6 bp −$176	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
Backpack WIF_USDC_PERP	−0.0614%	1h	0.2405	+0.108%	$72K	$234K	10x	as long as short
Variational Omni WIF	−0.0151%	4h	0.2401	−0.040%	$68K	$51K	—	as long as short
KuCoin WIFUSDTM	−0.0100%	4h	0.2399	−0.125%	$4.2M	$10.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2408	+0.250%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2409	+0.291%	$48K	$291K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2408	+0.238%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.291%	$10K	$10K	12x	as long as short
Aster WIFUSDT	+0.0050%	4h	0.2404	+0.067%	$23K	$253K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0063% / S −0.0129%	1h	0.2407	+0.224%	$4K	—	100x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2406	+0.167%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WIF	+0.0096%	1h	0.2402	+0.008%	$132K	$539K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2403	+0.042%	$53K	$483K	20x	as long as short
Pacifica WIF	+0.0100%	1h	0.2402	+0.009%	$74K	$46K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2400	−0.082%	$17.9M	$97.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2400	−0.075%	$16.9M	$34.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2401	−0.042%	$6.2M	$30.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2403	+0.042%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2402	long leg	$21.9M	$10.6M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2403	+0.042%	$7.3M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2404	+0.083%	—	$64.8M	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2389	−0.544%	$275K	$1.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2407	+0.208%	$42K	$612K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2400	−0.083%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2406	+0.146%	$544	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2407	+0.208%	$166K	$708K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2402	−0.012%	$9K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2406	+0.178%	$80K	$85	3x	as long as short
Hyperliquid WIF	+0.0210%	1h	0.2408	+0.266%	$7.3M	$3.7M	5x	as long as short
Kraken Futures PF_WIFUSD	+0.0221%	1h	0.2408	+0.250%	$645K	$2.1M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0296%	1h	0.2412	+0.416%	$317K	$2.4M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2407	+0.208%	$1.0M	$693K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2405	+0.122%	$0	—	15x	as long as short