Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.052%

Price spread now: Coinbase International against Orderly+0.039%7-day average +0.173% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.368%+$37 on $10k

Price spread, last 4 days (all we have)+0.165%+$17 · spread now +0.039%, 7d avg +0.173%

Together, before fees+0.534%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.134% cheaper against Orderly than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.173%). If the spread goes back, that is −$13 on $10k: about 43 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2542	0.0100	pay 0.0050% / 4h	3h 23m	$5K	$1.2M	10x
Short	Coinbase International WIF-PERP-INTX	0.2543	0.0352	get 0.0044% / 1h	23m 46s	$362K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.039%Rate

Funding earned: $52.92
Price spread: +0.039% → +0.173%: −$13.41
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $23.51
Costs to cover: 0.160%
Break-even: 3.9 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	9.74 bp	25.2 bp −$25	214.2 bp −$2,142	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0190%	4h	0.2549	+0.275%	$1.1M	$907K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2544	+0.098%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2539	−0.118%	$39K	$263K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2543	+0.052%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.511%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2540	−0.059%	$145K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2548	+0.236%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2540	−0.070%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2546	+0.158%	$79K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2539	−0.118%	$20.2M	$128.4M	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	0.2539	−0.118%	$17.5M	$42.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2541	−0.039%	$6.1M	$38.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2539	−0.118%	$1.2M	$8.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2539	−0.118%	$23.6M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2538	−0.157%	$4.3M	$15.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2539	−0.118%	$7.8M	$14.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2543	+0.039%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2538	−0.165%	$78K	$304K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2551	+0.355%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2568	+1.023%	$294K	$2.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2561	+0.747%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2542	long leg	$5K	$1.2M	10x
SunX WIF-USDT	+0.0100%	4h	0.2539	−0.118%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2540	−0.090%	$593	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2543	+0.039%	$168K	$735K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2538	−0.175%	$12K	$136K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	−0.037%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0114% / S +0.0020%	1h	0.2543	+0.038%	$9K	—	100x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0352%	1h	0.2543	+0.039%	$362K	$3.0M	50x
Kraken Futures PF_WIFUSD	+0.0362%	1h	0.2540	−0.078%	$662K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2544	+0.080%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0586%	1h	0.2545	+0.122%	$8.5M	$5.2M	5x	as long as short