Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0339%/8h= −37.1% APRpaid last 24h +0.123%

Price spread now: BloFin against Deribit+0.039%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs+$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.086%+$109 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.039%, 7d avg −0.006%

Together, before fees+0.999%+$100 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.045% dearer against Deribit than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.006%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +1.086%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2537	0.0144	pay 0.0018% / 1h	21m 09s	$39K	$263K	25x
Short	BloFin WIF-USDT	0.2538	−0.0195	pay 0.0097% / 4h	3h 21m	$1.1M	$905K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$71.24
Price spread: +0.039% → −0.006%: $4.5
Slippage, 4 orders: −$18.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$104.18
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Deribit: live order book, 32 min ago; BloFin: live order book, 1 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, 32 min ago	3.91 bp	7.4 bp −$7	17.0 bp −$170	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	3.96 bp	10.0 bp −$10	16.8 bp −$168	52.0 bp −$5,195	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
BloFin WIF-USDTshort	−0.0195%	4h	0.2538	+0.039%	$1.1M	$905K	75x
dYdX WIF-USD	0.0000%	1h	0.2538	+0.022%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2537	0.000%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.709%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2536	−0.043%	$145K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2540	+0.118%	$53K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2535	−0.092%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2537	−0.015%	$78K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2534	−0.104%	$20.2M	$129.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2533	−0.158%	$17.4M	$42.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2532	−0.197%	$6.1M	$38.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2533	−0.158%	$1.2M	$8.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2533	−0.158%	$23.5M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2534	−0.118%	$4.3M	$15.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2533	−0.158%	$7.8M	$14.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2533	−0.158%	—	$23.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2532	−0.193%	$76K	$306K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2551	+0.553%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2546	+0.345%	$292K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2532	−0.197%	$46K	$626K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2536	−0.039%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2530	−0.276%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2535	−0.079%	$592	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2535	−0.079%	$167K	$736K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2534	−0.126%	$12K	$124K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2536	−0.041%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0113% / S +0.0020%	1h	0.2536	−0.041%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0144%	1h	0.2537	long leg	$39K	$263K	25x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2537	0.000%	$337K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0363%	1h	0.2536	−0.034%	$662K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2538	+0.042%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0600%	1h	0.2539	+0.088%	$8.5M	$5.2M	5x	as long as short