Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.126%

Price spread now: Deribit against SunX+0.201%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$247as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1731.734% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.738%−$74 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now +0.201%, 7d avg +0.176%

Together, before fees−0.705%−$70 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.025% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.176%. Mind the row above: over the last 7 days funding on this pair cost −0.738%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2485	0.0100	pay 0.0050% / 4h	1h 56m	$2K	$2.8M	50x
Short	Deribit WIF_USDC-PERPETUAL	0.2490	0.0152	get 0.0019% / 1h	56m 10s	$47K	$261K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now +0.201%Rate

Funding earned: $10.87
Price spread: +0.201% → +0.176%: $2.53
Slippage, 4 orders: −$158.41
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$160.01
Costs to cover: 1.734%
Break-even: 110.0 days

Slippage from SunX: live order book, 11 min ago; Deribit: live order book, 7 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 SunX live order book, 11 min ago	34.36 bp	97.0 bp −$97	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 7 min ago	2.02 bp	5.5 bp −$6	20.1 bp −$201	doesn't fit	doesn't fit

WIF on 31 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	−0.0073%	1h	0.2482	−0.105%	$81K	$273K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2478	−0.299%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2487	+0.099%	$804	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.604%	$11K	$10K	12x	as long as short
Gate WIF_USDT	+0.0046%	4h	0.2482	−0.121%	$1.3M	$7.4M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2489	+0.145%	$140K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2488	+0.121%	$57K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2490	+0.201%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2488	+0.112%	$35K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	−0.139%	$77K	$55K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2485	−0.004%	$18.9M	$113.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2481	−0.165%	$17.1M	$38.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2481	−0.161%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2483	−0.080%	$22.1M	$10.8M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2485	0.000%	$4.5M	$13.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2481	−0.161%	$7.5M	$12.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2481	−0.161%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2487	+0.084%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2465	−0.790%	$281K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2466	−0.765%	$42K	$629K	25x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2485	long leg	$2K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2490	+0.197%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2484	−0.040%	$167K	$689K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	+0.106%	$8K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2489	+0.163%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0137%	1h	0.2489	+0.171%	$647K	$2.3M	50x	as long as short
Deribit WIF_USDC-PERPETUALshort	+0.0152%	1h	0.2490	+0.201%	$47K	$261K	25x
GMX WIF/USD [WBTC.b-USDC]	L +0.0163% / S −0.0032%	1h	0.2488	+0.129%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0240%	1h	0.2487	+0.071%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2489	+0.161%	$330K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2488	+0.124%	$0	—	15x	as long as short