Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.042%

Price spread now: OKX against Coinbase International+0.082%7-day average −0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$580.584% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.281%−$28 on $10k

Price spread, last 4 days (all we have)−0.253%−$25 · spread now +0.082%, 7d avg −0.128%

Together, before fees−0.534%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.210% dearer against Coinbase International than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of −0.128%): +$21 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.281% in total) that is about 5.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2443	0.0384	pay 0.0048% / 1h	45m 57s	$322K	$3.2M	50x
Short	OKX WIF-USDT-SWAP	0.2445	0.0100	get 0.0050% / 4h	1h 45m	$5.4M	$41.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$59.64
Price spread: +0.082% → −0.128%: $20.97
Slippage, 4 orders: −$38.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$97.07
Costs to cover: 0.584%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; OKX: live order book, 3 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 Coinbase International live order book, 3 min ago	10.18 bp	15.2 bp −$15	28.9 bp −$289	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.04 bp	11.8 bp −$12	31.8 bp −$318	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	0.2454	+0.450%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2450	+0.287%	$978K	$924K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0004%	1h	0.2443	−0.008%	$72K	$294K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2445	+0.062%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2444	+0.041%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2444	+0.021%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0059% / S +0.0250%	1h	0.2443	−0.009%	$20K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2444	+0.037%	$141K	$700K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2443	0.000%	$52K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2448	+0.192%	$8.5M	$6.4M	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	0.2446	+0.107%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2445	+0.094%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2446	+0.107%	$18.6M	$143.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2445	+0.082%	$16.5M	$47.2M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2445	+0.082%	$5.4M	$41.1M	50x
Gate WIF_USDT	+0.0100%	4h	0.2444	+0.041%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2445	+0.082%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2444	+0.041%	$4.1M	$16.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2446	+0.123%	$7.4M	$15.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2451	+0.327%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	+0.086%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2447	+0.165%	$277K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2446	+0.123%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2444	+0.041%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2439	−0.164%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2445	+0.102%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2438	−0.205%	$148K	$882K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2445	+0.080%	$10K	$157K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2443	+0.011%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0349%	1h	0.2443	−0.007%	$624K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0384%	1h	0.2443	long leg	$322K	$3.2M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2441	−0.067%	$0	—	15x	as long as short