Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.133%

Price spread now: SunX against Deribit−0.200%7-day average −0.177% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1851.849% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.741%+$74 on $10k

Price spread, last 3 days (all we have)−0.053%−$5 · spread now −0.200%, 7d avg −0.177%

Together, before fees+0.687%+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.024% cheaper against Deribit than usual: you would sell low and buy high (spread −0.200% now, against its 7-day average of −0.177%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.741% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2498	0	get 0.0000% / 1h	26m 17s	$49K	$289K	25x
Short	SunX WIF-USDT	0.2493	0.0100	get 0.0050% / 4h	3h 26m	$2K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.200%Rate

Funding earned: $21
Price spread: −0.200% → −0.177%: −$2.36
Slippage, 4 orders: −$169.88
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$166.23
Costs to cover: 1.849%
Break-even: 62.4 days

Slippage from Deribit: live order book, 47 min ago; SunX: live order book, 11 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, 47 min ago	6.16 bp	13.3 bp −$13	22.3 bp −$223	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	34.28 bp	65.2 bp −$65	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
Backpack WIF_USDC_PERP	−0.0293%	1h	0.2496	−0.064%	$76K	$254K	10x	as long as short
Gate WIF_USDT	−0.0166%	4h	0.2496	−0.080%	$1.3M	$7.2M	50x	as long as short
KuCoin WIFUSDTM	−0.0034%	4h	0.2496	−0.080%	$4.4M	$12.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2491	−0.296%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2498	long leg	$49K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2498	+0.020%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.121%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2499	+0.028%	$655K	$2.2M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2498	+0.008%	$143K	$588K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2494	−0.160%	$56K	$483K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0096%	4h	0.2497	−0.040%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2495	−0.114%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2493	−0.214%	$77K	$52K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2498	−0.004%	$19.2M	$107.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2497	−0.040%	$17.3M	$36.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2496	−0.080%	$6.0M	$33.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2498	0.000%	$22.6M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2497	−0.040%	$7.7M	$12.1M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2495	−0.120%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2497	−0.037%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2492	−0.240%	$281K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	−0.120%	$43K	$632K	25x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2493	−0.200%	$2K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2497	−0.060%	$568	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2497	−0.040%	$171K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2495	−0.132%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2497	−0.040%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0189%	1h	0.2500	+0.064%	$8.0M	$4.3M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2499	+0.025%	$7K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2501	+0.120%	$335K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2495	−0.120%	$1.0M	$747K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2493	−0.205%	$0	—	15x	as long as short