Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h +0.039%

Price spread now: Coinbase International against OKX+0.322%7-day average +0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.322%, 7d avg +0.137%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Coinbase International is 0.185% dearer against OKX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WIF-USDT-SWAP	0.2488	0.0100	pay 0.0050% / 4h	15m 47s	$6.0M	$36.2M	50x
Short	Coinbase International WIF-PERP-INTX	0.2496	0.0328	get 0.0041% / 1h	15m 47s	$326K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.322%Rate

Funding earned: $47.88
Price spread: +0.322% → +0.137%: $18.5
Slippage, 4 orders: −$33.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $12.57
Costs to cover: 0.538%
Break-even: 5.2 days

Slippage from OKX: 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 OKX live order book, 3 min ago	2.02 bp	12.0 bp −$12	34.9 bp −$349	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	8.06 bp	13.1 bp −$13	26.0 bp −$260	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	−0.0185%	4h	0.2498	+0.402%	$1.0M	$834K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0093%	1h	0.2492	+0.177%	$76K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2490	+0.062%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2495	+0.295%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.723%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2489	+0.052%	$138K	$631K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2499	+0.442%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2490	+0.097%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2489	+0.021%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2488	0.000%	$18.8M	$119.0M	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	0.2486	−0.076%	$16.9M	$40.0M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2488	long leg	$6.0M	$36.2M	50x
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	+0.040%	$23.0M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2489	+0.040%	$4.5M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2488	0.000%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2491	+0.121%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2494	+0.244%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2480	−0.322%	$276K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2483	−0.201%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2497	+0.362%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2494	+0.241%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	+0.301%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2497	+0.362%	$166K	$701K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	−0.007%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2496	+0.304%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0131% / S −0.0011%	1h	0.2496	+0.315%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2497	+0.362%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2496	+0.308%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0307%	1h	0.2495	+0.265%	$8.2M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0328%	1h	0.2496	+0.322%	$326K	$2.8M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2497	+0.366%	$0	—	15x	as long as short