Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.128%

Price spread now: Binance against Deribit+0.002%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs+$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.695%+$70 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now +0.002%, 7d avg −0.002%

Together, before fees+0.625%+$62 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2418	0	get 0.0000% / 1h	24m 19s	$47K	$289K	25x
Short	Binance WIFUSDT	0.2418	0.0100	get 0.0050% / 4h	24m 19s	$18.0M	$103.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.002%Rate

Funding earned: $21
Price spread: +0.002% → −0.002%: $0.32
Slippage, 4 orders: −$24.96
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$20.64
Costs to cover: 0.420%
Break-even: 13.9 days

Slippage from Deribit: live order book, 54 min ago; Binance: 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 Deribit live order book, 54 min ago	4.13 bp	11.3 bp −$11	23.2 bp −$232	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	2.06 bp	11.9 bp −$12	25.7 bp −$257	90.2 bp −$9,020	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
Backpack WIF_USDC_PERP	−0.0406%	1h	0.2419	+0.037%	$72K	$248K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2422	+0.152%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2418	long leg	$47K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2420	+0.065%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0026%	4h	0.2417	−0.041%	$4.3M	$11.6M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.951%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2419	+0.041%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2423	+0.199%	$136K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2420	+0.083%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2422	+0.161%	$7.5M	$4.0M	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	0.2421	+0.135%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2422	+0.149%	$75K	$51K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2418	+0.002%	$18.0M	$103.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2417	−0.041%	$16.7M	$36.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2417	−0.041%	$6.0M	$31.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2419	+0.041%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2420	+0.083%	$21.8M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2419	+0.041%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2420	+0.083%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2419	+0.051%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2426	+0.335%	$275K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2427	+0.372%	$43K	$625K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2418	0.000%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2417	−0.033%	$552	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2414	−0.165%	$167K	$744K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2417	−0.062%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2418	−0.014%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2419	+0.029%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2425	+0.289%	$319K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0323%	1h	0.2420	+0.071%	$628K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2419	+0.041%	$983K	$723K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2419	+0.027%	$0	—	15x	as long as short