Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0492%/8h= +53.9% APRpaid last 24h +0.026%

Price spread now: Coinbase International against BloFin+0.355%58s7-day average +0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as 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−$610.609% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now +0.355%, 7d avg +0.157%

Together, before fees−0.269%−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Coinbase International is 0.198% dearer against BloFin than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.157%. Mind the row above: over the last 7 days funding on this pair cost −0.094%, so the current rate has only just turned in your favour. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WIF-USDT	0.2533	−0.0140	get 0.0070% / 4h	13m 27s	$1.0M	$960K	75x
Short	Coinbase International WIF-PERP-INTX	0.2542	0.0352	get 0.0044% / 1h	13m 27s	$337K	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.355%Rate

Funding earned: $103.32
Price spread: +0.355% → +0.157%: $19.81
Slippage, 4 orders: −$38.95
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $62.18
Costs to cover: 0.609%
Break-even: 2.8 days

Slippage from BloFin: live order book, 4 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 BloFin live order book, 4 min ago	3.97 bp	20.2 bp −$20	24.4 bp −$244	66.3 bp −$6,625	doesn't fit
Sell Coinbase International live order book, 5 min ago	5.97 bp	14.9 bp −$15	27.7 bp −$277	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
GMX WIF/USD [WBTC.b-USDC]	L −0.0182% / S +0.0276%	1h	0.2533	+0.019%	$20K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−2.803%	$10K	$11K	12x	as long as short
BloFin WIF-USDTlong	−0.0140%	4h	0.2533	long leg	$1.0M	$960K	75x
dYdX WIF-USD	0.0000%	1h	0.2541	+0.303%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2542	+0.355%	$34K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2544	+0.454%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0034%	1h	0.2540	+0.268%	$76K	$310K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2543	+0.411%	$145K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2544	+0.434%	$55K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2547	+0.557%	$8.9M	$6.9M	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	0.2544	+0.443%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2543	+0.379%	$79K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2545	+0.490%	$19.6M	$149.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2543	+0.395%	$17.0M	$49.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2544	+0.434%	$5.7M	$44.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2545	+0.474%	$1.2M	$9.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2544	+0.434%	$22.7M	$12.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2545	+0.474%	$4.3M	$17.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2544	+0.434%	$7.7M	$16.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2541	+0.316%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2517	−0.627%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2536	+0.119%	$286K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2531	−0.079%	$46K	$640K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2546	+0.513%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2537	+0.158%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2541	+0.312%	$584	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2535	+0.079%	$161K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2542	+0.351%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	+0.322%	$85K	$85	3x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0352%	1h	0.2542	+0.355%	$337K	$3.4M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2544	+0.440%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0798%	1h	0.2542	+0.351%	$661K	$2.7M	50x	as long as short