Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0193%/8h= −21.1% APRpaid last 24h −0.049%

Price spread now: Orderly against Coinbase International−0.320%7-day average −0.177% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.320%, 7d avg −0.177%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Orderly is 0.143% cheaper against Coinbase International than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.177%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2499	0.0288	pay 0.0036% / 1h	30m 57s	$336K	$2.5M	50x
Short	Orderly PERP_WIF_USDC	0.2491	0.0095	get 0.0048% / 4h	3h 30m	$5K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.320%Rate

Funding earned: −$40.48
Price spread: −0.320% → −0.177%: −$14.29
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$70.77
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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	4.01 bp	13.0 bp −$13	25.8 bp −$258	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_PERP	−0.0321%	1h	0.2492	−0.272%	$76K	$255K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0151%	1h	0.2491	−0.320%	$49K	$289K	25x	as long as short
Gate WIF_USDT	−0.0108%	4h	0.2491	−0.320%	$1.2M	$7.1M	50x	as long as short
KuCoin WIFUSDTM	−0.0012%	4h	0.2491	−0.320%	$4.4M	$12.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2494	−0.216%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2492	−0.299%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.160%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2493	−0.232%	$657K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDCshort	+0.0095%	4h	0.2491	−0.320%	$5K	$1.3M	10x
Lighter WIF	+0.0096%	1h	0.2494	−0.196%	$143K	$588K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2492	−0.280%	$56K	$484K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2496	−0.137%	$25K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2495	−0.163%	$77K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2492	−0.284%	$19.2M	$107.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2489	−0.400%	$17.1M	$36.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2491	−0.320%	$6.0M	$33.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2493	−0.240%	$22.5M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2493	−0.240%	$7.8M	$12.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2490	−0.360%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2487	−0.476%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2497	−0.077%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2490	−0.360%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2488	−0.440%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2492	−0.280%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2490	−0.360%	$171K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2491	−0.321%	$11K	$151K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2492	−0.300%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2491	−0.333%	$7K	—	100x	as long as short
Hyperliquid WIF	+0.0200%	1h	0.2500	+0.024%	$8.0M	$4.3M	5x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0288%	1h	0.2499	long leg	$336K	$2.5M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2492	−0.280%	$1.0M	$746K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2489	−0.395%	$0	—	15x	as long as short