Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.043%

Price spread now: Deribit against Variational Omni−0.642%7-day average +0.048% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.226%−$23 on $10k

Price spread, last 4 days (all we have)+0.852%+$85 · spread now −0.642%, 7d avg +0.048%

Together, before fees+0.626%+ Points / potential airdropVariational Omni: Active · farm board+$63 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.690% cheaper against Variational Omni than usual: you would sell low and buy high (−$69 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni WIF	0.2502	0.0100	pay 0.0050% / 4h	1h 03m	$74K	$193K	—
Short	Deribit WIF_USDC-PERPETUAL	0.2486	0	get 0.0000% / 1h	3m 00s	$33K	$274K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.642%Rate

Funding earned: −$21
Price spread: −0.642% → +0.048%: −$68.99
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$96.99
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; Deribit: live order book, 41 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 26 min ago	8.15 bp	doesn't fit	32.6 bp −$326	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	6.10 bp	9.6 bp −$10	21.9 bp −$219	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	−1.601%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2483	−0.762%	$976K	$939K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2490	−0.482%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2486	−0.642%	$33K	$274K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2493	−0.351%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0011%	1h	0.2482	−0.790%	$77K	$299K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0014% / S +0.0236%	1h	0.2485	−0.688%	$19K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2487	−0.598%	$143K	$703K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2489	−0.522%	$53K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2485	−0.662%	$8.6M	$6.5M	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	0.2485	−0.683%	$30K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2491	−0.436%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2483	−0.753%	$18.9M	$144.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2482	−0.802%	$16.7M	$47.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2481	−0.842%	$5.5M	$42.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2484	−0.722%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2485	−0.682%	$22.3M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2486	−0.642%	$4.4M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2483	−0.762%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2484	−0.722%	—	$27.1M	—	as long as short
Variational Omni WIFlong	+0.0100%	4h	0.2502	long leg	$74K	$193K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	−0.249%	$286K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	−0.082%	$46K	$635K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2485	−0.682%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2483	−0.762%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2486	−0.654%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2484	−0.722%	$155K	$947K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2481	−0.830%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2485	−0.669%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0343%	1h	0.2488	−0.569%	$645K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2492	−0.402%	$329K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2486	−0.658%	$0	—	15x	as long as short