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: SunX against Coinbase International−0.122%7-day average −0.331% · you buy dearer than you sell

Net, funding: paid 7d − costs−$240as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$2132.125% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.266%−$27 · spread now −0.122%, 7d avg −0.331%

Together, before fees−0.542%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.209% dearer against Coinbase International than usual: you sell high and buy low (spread −0.122% now, against its 7-day average of −0.331%): +$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 2.4 days. At the pace of the last 7 days (−0.277% in total) that is about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2452	0.0384	pay 0.0048% / 1h	50m 09s	$323K	$3.2M	50x
Short	SunX WIF-USDT	0.2449	0.0100	get 0.0050% / 4h	1h 50m	$2K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$59.64
Price spread: −0.122% → −0.331%: $20.85
Slippage, 4 orders: −$194.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$251.33
Costs to cover: 2.125%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; SunX: live order book, 8 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, 4 min ago	8.20 bp	30.3 bp −$30	265.9 bp −$2,659	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	34.70 bp	69.4 bp −$69	doesn't fit	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	+0.082%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2441	−0.449%	$982K	$921K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2450	−0.099%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2451	−0.025%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0063% / S +0.0250%	1h	0.2451	−0.045%	$21K	—	100x	as long as short
Backpack WIF_USDC_PERP	+0.0089%	1h	0.2456	+0.151%	$73K	$293K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2455	+0.143%	$153K	$689K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2454	+0.082%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2459	+0.273%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2454	+0.101%	$31K	$350K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2449	−0.133%	$77K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2455	+0.118%	$18.6M	$142.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2453	+0.029%	$16.6M	$47.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2452	0.000%	$5.5M	$41.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2456	+0.163%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2457	+0.204%	$22.2M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2455	+0.122%	$4.1M	$16.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2456	+0.163%	$7.5M	$15.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2455	+0.122%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.282%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2439	−0.515%	$271K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2435	−0.693%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2453	+0.041%	$5K	$1.0M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2449	−0.122%	$2K	$3.1M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2455	+0.102%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2451	−0.041%	$149K	$882K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2454	+0.075%	$10K	$159K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2453	+0.046%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0158%	1h	0.2454	+0.082%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0348%	1h	0.2455	+0.108%	$629K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0384%	1h	0.2452	long leg	$323K	$3.2M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2452	+0.005%	$0	—	15x	as long as short