Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h −0.069%

Price spread now: Deribit against BloFin−0.119%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.026%−$103 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.119%, 7d avg +0.005%

Together, before fees−0.859%−$86 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.124% cheaper against BloFin than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of +0.005%). If the spread goes back, that is −$12 on $10k: about 3.0 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −1.026%, 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	BloFin WIF-USDT	0.2517	−0.0140	get 0.0070% / 4h	1h 51m	$1.1M	$1.1M	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2514	0	get 0.0000% / 1h	51m 00s	$33K	$255K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.119%Rate

Funding earned: $29.4
Price spread: −0.119% → +0.005%: −$12.4
Slippage, 4 orders: −$26.48
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$28.48
Costs to cover: 0.455%
Break-even: 13.8 days

Slippage from BloFin: live order book, 4 min ago; Deribit: live order book, 60 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	5.95 bp	14.8 bp −$15	29.6 bp −$296	96.6 bp −$9,660	doesn't fit
Sell Deribit live order book, 60 min ago	3.90 bp	7.4 bp −$7	22.4 bp −$224	doesn't fit	doesn't fit

WIF on 32 exchanges

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	−0.0389%	1h	0.2559	+1.669%	$10K	$28K	12x	as long as short
BloFin WIF-USDTlong	−0.0140%	4h	0.2517	long leg	$1.1M	$1.1M	75x
GMX WIF/USD [WBTC.b-USDC]	L −0.0117% / S +0.0179%	1h	0.2516	−0.026%	$9K	—	100x	as long as short
Backpack WIF_USDC_PERP	−0.0012%	1h	0.2511	−0.234%	$85K	$363K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2514	−0.102%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2514	−0.119%	$33K	$255K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2516	−0.057%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2513	−0.159%	$5K	$1.0M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2515	−0.087%	$139K	$878K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2516	−0.040%	$53K	$634K	20x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2513	−0.143%	$9.9M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2513	−0.145%	$32K	$420K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2512	−0.185%	$78K	$97K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2513	−0.145%	$20.2M	$172.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2510	−0.278%	$17.2M	$58.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2512	−0.199%	$6.2M	$51.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2515	−0.079%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2511	−0.238%	$22.4M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2512	−0.199%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2512	−0.199%	$7.6M	$19.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2512	−0.199%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2525	+0.312%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2515	−0.098%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2518	+0.040%	$36K	$647K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2511	−0.238%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2512	−0.183%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2510	−0.278%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2511	−0.252%	$9K	$263K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2513	−0.144%	$84K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2522	+0.199%	$341K	$3.9M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2513	−0.173%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0571%	1h	0.2514	−0.117%	$645K	$3.0M	50x	as long as short