Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0334%/8h= +36.6% APRpaid last 24h +0.048%

Price spread now: Coinbase International against Gate+0.081%7-day average +0.156% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$840.840% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.383%+$38 on $10k

Price spread, last 3 days (all we have)+0.163%+$16 · spread now +0.081%, 7d avg +0.156%

Together, before fees+0.546%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.076% cheaper against Gate than usual: you would sell low and buy high (spread +0.081% now, against its 7-day average of +0.156%). If the spread goes back, that is −$8 on $10k: about 18 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2477	−0.0030	get 0.0015% / 4h	2h 22m	$1.2M	$7.5M	50x
Short	Coinbase International WIF-PERP-INTX	0.2479	0.0304	get 0.0038% / 1h	22m 06s	$326K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.081%Rate

Funding earned: $70.14
Price spread: +0.081% → +0.156%: −$7.57
Slippage, 4 orders: −$59.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$21.47
Costs to cover: 0.840%
Break-even: 9.1 days

Slippage from Gate: live order book, 1 min ago; Coinbase International: live order book, 2 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 Gate live order book, 1 min ago	4.04 bp	24.0 bp −$24	51.0 bp −$510	77.9 bp −$7,786	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.02 bp	16.7 bp −$17	29.6 bp −$296	doesn't fit	doesn't fit

WIF on 31 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	−0.0783%	1h	0.2470	−0.283%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2480	+0.132%	$643K	$2.3M	50x	as long as short
Gate WIF_USDTlong	−0.0030%	4h	0.2477	long leg	$1.2M	$7.5M	50x
dYdX WIF-USD	0.0000%	1h	0.2480	+0.104%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2481	+0.161%	$49K	$276K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2480	+0.136%	$802	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0021%	1h	0.2476	−0.036%	$81K	$273K	10x	as long as short
KuCoin WIFUSDTM	+0.0052%	4h	0.2481	+0.161%	$4.5M	$13.1M	75x	as long as short
Lighter WIF	+0.0096%	1h	0.2481	+0.178%	$139K	$626K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2480	+0.121%	$57K	$497K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2481	+0.161%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2481	+0.176%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	+0.211%	$77K	$54K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2478	+0.051%	$18.9M	$112.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2475	−0.073%	$17.1M	$38.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2473	−0.161%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2477	0.000%	$22.1M	$11.1M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2478	+0.040%	$7.5M	$12.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2481	+0.161%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2486	+0.367%	$76K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2480	+0.141%	$280K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2486	+0.363%	$43K	$628K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2478	+0.040%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2480	+0.121%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2480	+0.121%	$167K	$732K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2479	+0.094%	$8K	$158K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2482	+0.205%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0171% / S −0.0037%	1h	0.2480	+0.139%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0217%	1h	0.2480	+0.135%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0304%	1h	0.2479	+0.081%	$326K	$2.5M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2481	+0.145%	$0	—	15x	as long as short