WIF arbitrage explained
Right now dogwifhat (WIF) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.2311 and the highest bid on Bybit spot at $0.2314.
The widest WIF perpetual spread is between Binance and Bitget: long WIF on Binance at $0.2311 and short on Bitget at $0.2313 for +0.09% gross, or -0.07% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.020% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best WIF route is to buy spot on Binance and short the perpetual on Bitget: 0.00% gross, -0.20% net, with +0.030% a day of funding on the short leg.
Spot–spot WIF arbitrage (buy on Binance, withdraw, deposit and sell on Bybit) shows +0.04% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small WIF gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: WIF funding rates · WIF spread charts · dogwifhat price · arbitrage scanner for all coins.