Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.126%

Price spread now: Deribit against HTX−0.161%7-day average −0.528% · you buy dearer than you sell

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$1061.059% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.919%−$92 on $10k

Price spread, last 3 days (all we have)−0.223%−$22 · spread now −0.161%, 7d avg −0.528%

Together, before fees−1.142%−$114 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.367% dearer against HTX than usual: you sell high and buy low (spread −0.161% now, against its 7-day average of −0.528%): +$37 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 7 days (−0.919% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX WIF-USDT	0.2487	0.0100	pay 0.0050% / 4h	2h 48m	$170K	$747K	75x
Short	Deribit WIF_USDC-PERPETUAL	0.2483	0	get 0.0000% / 1h	48m 29s	$49K	$289K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$21
Price spread: −0.161% → −0.528%: $36.73
Slippage, 4 orders: −$86.91
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$90.18
Costs to cover: 1.059%
Break-even: never at this rate

Slippage from HTX: live order book, 20 min ago; Deribit: live order book, 20 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 HTX live order book, 20 min ago	10.14 bp	32.4 bp −$32	166.8 bp −$1,668	doesn't fit	doesn't fit
Sell Deribit live order book, 20 min ago	6.07 bp	13.6 bp −$14	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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.684%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0178%	4h	0.2482	−0.201%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2484	−0.109%	$648K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0032%	4h	0.2483	−0.161%	$4.5M	$12.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2482	−0.201%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2483	−0.161%	$49K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2483	−0.143%	$803	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2485	−0.092%	$148K	$607K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2479	−0.322%	$56K	$497K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2484	−0.121%	$5K	$1.3M	10x	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	0.2486	−0.051%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	−0.183%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2480	−0.301%	$18.8M	$111.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2477	−0.398%	$17.0M	$37.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2478	−0.362%	$6.0M	$34.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2481	−0.241%	$22.4M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2475	−0.483%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2480	−0.281%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2484	−0.121%	$77K	$269K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	−0.478%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2476	−0.442%	$275K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2479	−0.322%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2479	−0.322%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2485	−0.101%	$565	$5K	5x	as long as short
HTX WIF-USDTlong	+0.0100%	4h	0.2487	long leg	$170K	$747K	75x
Extended WIF-USD	+0.0104%	1h	0.2478	−0.346%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2484	−0.135%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0171%	1h	0.2481	−0.253%	$8.0M	$4.7M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0180% / S −0.0043%	1h	0.2482	−0.190%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2485	−0.080%	$327K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2487	0.000%	$997K	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2474	−0.538%	$0	—	15x	as long as short