Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.046%

Price spread now: Coinbase International against MEXC+0.081%7-day average +0.175% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 4 days (all we have)+0.448%+$45 · spread now +0.081%, 7d avg +0.175%

Together, before fees+0.776%+$78 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.094% cheaper against MEXC than usual: you would sell low and buy high (spread +0.081% now, against its 7-day average of +0.175%). If the spread goes back, that is −$9 on $10k: about 36 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2468	0.0100	pay 0.0050% / 4h	1h 30m	$22.2M	$11.0M	50x
Short	Coinbase International WIF-PERP-INTX	0.2470	0.0312	get 0.0039% / 1h	30m 23s	$330K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.081%Rate

Funding earned: $44.52
Price spread: +0.081% → +0.175%: −$9.41
Slippage, 4 orders: −$33.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$11.99
Costs to cover: 0.471%
Break-even: 8.9 days

Slippage from MEXC: live order book, 3 min ago; Coinbase International: live order book, 3 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 MEXC live order book, 3 min ago	2.02 bp	7.4 bp −$7	16.4 bp −$164	97.1 bp −$9,712	143.3 bp −$71.7K
Sell Coinbase International live order book, 3 min ago	4.05 bp	16.3 bp −$16	28.6 bp −$286	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	−0.0176%	4h	0.2471	+0.122%	$1.0M	$820K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2471	+0.102%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2468	0.000%	$46K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2468	+0.012%	$798	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.081%	$11K	$10K	12x	as long as short
Gate WIF_USDT	+0.0058%	4h	0.2469	+0.041%	$1.2M	$7.5M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2472	+0.158%	$139K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2469	+0.041%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2471	+0.104%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2471	+0.130%	$76K	$56K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2468	+0.005%	$18.8M	$114.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2466	−0.097%	$17.0M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2466	−0.081%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2468	long leg	$22.2M	$11.0M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2470	+0.081%	$4.4M	$13.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2466	−0.081%	$7.4M	$12.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2468	0.000%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2471	+0.118%	$78K	$280K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2470	+0.081%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2470	+0.081%	$284K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2470	+0.081%	$42K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2467	−0.041%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2467	−0.041%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2468	−0.012%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2466	−0.081%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2466	−0.089%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2468	−0.019%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2469	+0.045%	$647K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0155% / S −0.0026%	1h	0.2468	−0.009%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0285%	1h	0.2472	+0.148%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0312%	1h	0.2470	+0.081%	$330K	$2.6M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2467	−0.058%	$0	—	15x	as long as short