WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0687%/8h= +75.2% APRnext payment +$0.86 per $10,000 · paid last 24h +0.240%

Price spread now: Coinbase International against Backpack+0.294%52s7-day average +0.224% · you sell dearer than you buy

Net, funding: paid 7d − costs+$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.529% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.703%+$70 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.294%, 7d avg +0.224%

Together, before fees+0.681%+$68 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Coinbase International is 0.069% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.224%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2450	−0.0423	get 0.0053% / 1h	49m 16s	$73K	$249K	10x
Short	Coinbase International WIF-PERP-INTX	0.2457	0.0264	get 0.0033% / 1h	49m 16s	$332K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now +0.294%Rate

Funding earned: $144.24
Price spread: +0.294% → +0.224%: $6.95
Slippage, 4 orders: −$32.93
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $98.26
Costs to cover: 0.529%
Break-even: 2.2 days

Slippage from Backpack: live order book, 29 min ago; Coinbase International: live order book, 5 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 Backpack live order book, 29 min ago	0.21 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	6.08 bp	22.3 bp −$22	34.7 bp −$347	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_PERPlong	−0.0423%	1h	0.2450	long leg	$73K	$249K	10x
dYdX WIF-USD	0.0000%	1h	0.2454	+0.157%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2451	+0.049%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2453	+0.113%	$15K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0020%	4h	0.2453	+0.131%	$4.3M	$11.4M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.237%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2451	+0.049%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2450	+0.012%	$138K	$562K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2454	+0.171%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2458	+0.331%	$7.6M	$4.0M	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	0.2453	+0.118%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2454	+0.170%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2449	−0.029%	$18.3M	$102.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2448	−0.073%	$16.9M	$35.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2449	−0.033%	$6.1M	$32.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2453	+0.131%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2453	+0.131%	$22.3M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2451	+0.049%	$7.6M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2451	+0.049%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2462	+0.506%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2459	+0.391%	$280K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2464	+0.580%	$43K	$621K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2450	+0.008%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2451	+0.041%	$561	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2451	+0.049%	$169K	$722K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2450	−0.010%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2452	+0.094%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2453	+0.128%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0264%	1h	0.2457	+0.294%	$332K	$2.4M	50x
Kraken Futures PF_WIFUSD	+0.0318%	1h	0.2453	+0.133%	$654K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2451	+0.049%	$994K	$727K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2453	+0.118%	$0	—	15x	as long as short