Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0452%/8h= +49.5% APRpaid last 24h +0.077%

Price spread now: Coinbase International against Bybit+0.310%7-day average +0.167% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$740.736% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.385%+$38 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.310%, 7d avg +0.167%

Together, before fees+0.296%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.143% dearer against Bybit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2514	0.0100	pay 0.0050% / 4h	1h 53m	$17.2M	$58.5M	50x
Short	Coinbase International WIF-PERP-INTX	0.2522	0.0552	get 0.0069% / 1h	53m 04s	$341K	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.310%Rate

Funding earned: $94.92
Price spread: +0.310% → +0.167%: $14.3
Slippage, 4 orders: −$52.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $35.6
Costs to cover: 0.736%
Break-even: 4.4 days

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 4 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 Bybit live order book, 4 min ago	1.97 bp	12.3 bp −$12	31.7 bp −$317	161.1 bp −$16.1K	doesn't fit
Sell Coinbase International live order book, 4 min ago	13.80 bp	29.0 bp −$29	doesn't fit	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	+1.782%	$10K	$28K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2517	+0.111%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0117% / S +0.0179%	1h	0.2514	+0.007%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2515	+0.046%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2516	+0.072%	$33K	$255K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2516	+0.054%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0017%	1h	0.2513	−0.032%	$85K	$363K	10x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2515	+0.032%	$5K	$1.0M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2519	+0.187%	$140K	$878K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2516	+0.072%	$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	0.2516	+0.076%	$9.9M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2515	+0.040%	$32K	$420K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2517	+0.122%	$78K	$97K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2515	+0.032%	$20.2M	$172.9M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2514	long leg	$17.2M	$58.5M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2516	+0.072%	$6.2M	$51.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2516	+0.072%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2514	−0.008%	$22.4M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2515	+0.032%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2515	+0.032%	$7.6M	$19.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2516	+0.072%	—	$27.6M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2525	+0.424%	$77K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2520	+0.227%	$284K	$3.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2525	+0.430%	$36K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2511	−0.127%	$1K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2516	+0.072%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2514	−0.008%	$156K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2514	−0.001%	$9K	$263K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2515	+0.012%	$84K	—	3x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0552%	1h	0.2522	+0.310%	$341K	$4.0M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2514	−0.002%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0570%	1h	0.2518	+0.157%	$647K	$3.0M	50x	as long as short