Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.036%

Price spread now: Coinbase International against SunX+0.483%7-day average +0.337% · you sell dearer than you buy

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1921.918% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.282%+$28 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.483%, 7d avg +0.337%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.147% dearer against SunX than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.337%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2482	0.0100	pay 0.0050% / 4h	3h 31m	$2K	$2.8M	50x
Short	Coinbase International WIF-PERP-INTX	0.2494	0.0288	get 0.0036% / 1h	31m 58s	$335K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.483%Rate

Funding earned: $39.48
Price spread: +0.483% → +0.337%: $14.68
Slippage, 4 orders: −$173.81
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$137.65
Costs to cover: 1.918%
Break-even: 31.4 days

Slippage from SunX: live order book, 5 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 SunX live order book, 5 min ago	34.28 bp	96.8 bp −$97	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.01 bp	16.9 bp −$17	30.3 bp −$303	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
Backpack WIF_USDC_PERP	−0.0341%	1h	0.2493	+0.431%	$76K	$255K	10x	as long as short
Gate WIF_USDT	−0.0080%	4h	0.2492	+0.403%	$1.3M	$7.1M	50x	as long as short
KuCoin WIFUSDTM	−0.0010%	4h	0.2495	+0.524%	$4.4M	$12.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2480	−0.097%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2490	+0.322%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2487	+0.182%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.483%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2494	+0.463%	$658K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2488	+0.242%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2492	+0.411%	$143K	$588K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2482	0.000%	$56K	$484K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2491	+0.377%	$25K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	+0.006%	$77K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2496	+0.564%	$19.2M	$107.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2494	+0.500%	$17.1M	$36.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2497	+0.604%	$6.0M	$33.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	+0.604%	$22.5M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2498	+0.645%	$7.8M	$12.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2491	+0.363%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2488	+0.246%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2497	+0.608%	$280K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2466	−0.645%	$43K	$632K	25x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2482	long leg	$2K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2491	+0.363%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2482	0.000%	$170K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2495	+0.543%	$11K	$151K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2489	+0.268%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2487	+0.208%	$7K	—	100x	as long as short
Hyperliquid WIF	+0.0204%	1h	0.2499	+0.673%	$8.0M	$4.3M	5x	as long as short
Coinbase International WIF-PERP-INTXshort	+0.0288%	1h	0.2494	+0.483%	$335K	$2.5M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2484	+0.081%	$989K	$744K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2484	+0.065%	$0	—	15x	as long as short