Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.090%

Price spread now: KuCoin against Deribit−0.120%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$630.630% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.573%+$57 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.120%, 7d avg −0.009%

Together, before fees+0.502%+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.112% cheaper against Deribit than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.009%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.573%, 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	0.2492	0.0151	pay 0.0019% / 1h	13m 46s	$45K	$256K	25x
Short	KuCoin WIFUSDTM	0.2489	0.0100	get 0.0050% / 4h	13m 46s	$4.5M	$14.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$10.8
Price spread: −0.120% → −0.009%: −$11.16
Slippage, 4 orders: −$44.01
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$84.97
Costs to cover: 0.630%
Break-even: never at this rate

Slippage from Deribit: live order book, 45 min ago; KuCoin: live order book, 5 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, 45 min ago	6.05 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	4.03 bp	18.2 bp −$18	52.9 bp −$529	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
BloFin WIF-USDT	−0.0186%	4h	0.2494	+0.080%	$1.0M	$833K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0073%	1h	0.2490	−0.068%	$76K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2492	0.000%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2490	−0.066%	$805	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.883%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2498	+0.253%	$138K	$631K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2491	−0.040%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2492	+0.014%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2492	+0.009%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2492	+0.001%	$18.8M	$119.1M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2491	−0.040%	$17.0M	$40.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2495	+0.120%	$6.0M	$36.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2490	−0.080%	$1.2M	$7.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2489	−0.120%	$22.9M	$11.4M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2489	−0.120%	$4.5M	$14.5M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2496	+0.161%	$7.6M	$13.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2492	0.000%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2494	+0.083%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	+0.164%	$286K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	+0.120%	$46K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2491	−0.040%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2487	−0.201%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2492	−0.020%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2490	−0.080%	$165K	$701K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	−0.148%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2491	−0.038%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0130% / S −0.0010%	1h	0.2490	−0.087%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUALlong	+0.0151%	1h	0.2492	long leg	$45K	$256K	25x
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2493	+0.040%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0318%	1h	0.2502	+0.401%	$8.2M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2493	+0.040%	$330K	$2.8M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2490	−0.096%	$0	—	15x	as long as short