Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bitget−0.088%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Bitget 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)−0.001%$0 · spread now −0.088%, 7d avg −0.023%

Together, before fees−0.009%+ Points / potential airdropLighter: Season 3 · farm board−$1 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 0.066% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WIFUSDT	0.2486	0.0100	pay 0.0050% / 4h	2h 29m	$7.5M	$12.4M	50x
Short	Lighter WIF	0.2484	0.0096	get 0.0012% / 1h	29m 56s	$140K	$624K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$0.84
Price spread: −0.088% → −0.023%: −$6.56
Slippage, 4 orders: −$40.63
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$60.02
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Lighter: live order book, 31 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 Bitget live order book, 4 min ago	2.03 bp	12.0 bp −$12	27.1 bp −$271	109.6 bp −$11.0K	doesn't fit
Sell Lighter live order book, 31 min ago	6.36 bp	10.0 bp −$10	68.1 bp −$681	doesn't fit	doesn't fit

WIF on 31 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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.644%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2485	−0.044%	$645K	$2.3M	50x	as long as short
Gate WIF_USDT	−0.0066%	4h	0.2483	−0.121%	$1.2M	$7.4M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2474	−0.498%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2479	−0.266%	$801	—	150x	as long as short
KuCoin WIFUSDTM	+0.0028%	4h	0.2483	−0.121%	$4.5M	$13.0M	75x	as long as short
Backpack WIF_USDC_PERP	+0.0067%	1h	0.2483	−0.121%	$79K	$273K	10x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2484	−0.088%	$140K	$624K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2480	−0.241%	$56K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2481	−0.201%	$5K	$1.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2481	−0.217%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2477	−0.361%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2486	−0.009%	$18.9M	$112.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2482	−0.161%	$17.0M	$38.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2485	−0.040%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2486	0.000%	$22.3M	$11.1M	50x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2486	long leg	$7.5M	$12.4M	50x
BingX WIF-USDT	+0.0100%	4h	0.2483	−0.121%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2470	−0.639%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2463	−0.922%	$279K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2471	−0.603%	$42K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2476	−0.402%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2483	−0.101%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2480	−0.241%	$169K	$727K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2484	−0.067%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2482	−0.146%	$83K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0153%	1h	0.2481	−0.201%	$49K	$276K	25x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0174% / S −0.0039%	1h	0.2480	−0.259%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0228%	1h	0.2488	+0.078%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2479	−0.282%	$325K	$2.5M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2477	−0.367%	$0	—	15x	as long as short