Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against BingX+0.040%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$430.425% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.321%−$32 · spread now +0.040%, 7d avg +0.011%

Together, before fees−0.330%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.029% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDT	0.2497	0.0100	pay 0.0050% / 4h	27m 46s	—	$23.5M	—
Short	Lighter WIF	0.2498	0.0096	get 0.0012% / 1h	27m 46s	$140K	$630K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$0.84
Price spread: +0.040% → +0.011%: $2.95
Slippage, 4 orders: −$32.53
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.42
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Lighter: live order book, 23 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 BingX live order book, 11 min ago	2.03 bp	9.5 bp −$9	20.3 bp −$203	46.6 bp −$4,663	467.2 bp −$233.6K
Sell Lighter live order book, 23 min ago	3.22 bp	10.8 bp −$11	59.4 bp −$594	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	−0.0185%	1h	0.2495	−0.100%	$77K	$291K	10x	as long as short
BloFin WIF-USDT	−0.0181%	4h	0.2488	−0.360%	$996K	$827K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2492	−0.219%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2496	−0.032%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.081%	$11K	$10K	12x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2498	+0.040%	$140K	$630K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2495	−0.080%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2495	−0.069%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2492	−0.204%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2496	−0.038%	$18.8M	$118.5M	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	0.2495	−0.080%	$17.0M	$39.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2498	+0.040%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2496	−0.040%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	0.000%	$23.0M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2496	−0.040%	$4.6M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2497	0.000%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDTlong	+0.0100%	4h	0.2497	long leg	—	$23.5M	—
Variational Omni WIF	+0.0100%	4h	0.2485	−0.478%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2488	−0.360%	$282K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−1.001%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2495	−0.080%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.280%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	−0.060%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2494	−0.120%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2497	−0.015%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2495	−0.098%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0135% / S −0.0013%	1h	0.2495	−0.078%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2496	−0.040%	$45K	$260K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2497	−0.012%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0307%	1h	0.2503	+0.228%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2495	−0.080%	$328K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	+0.044%	$0	—	15x	as long as short