Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.010%

Price spread now: Lighter against Gate+0.046%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.328%−$33 · spread now +0.046%, 7d avg +0.028%

Together, before fees−0.231%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2375	−0.0038	get 0.0019% / 4h	2h 36m	$1.2M	$6.9M	50x
Short	Lighter WIF	0.2376	0.0096	get 0.0012% / 1h	36m 51s	$132K	$540K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.046%Rate

Funding earned: $28.14
Price spread: +0.046% → +0.028%: $1.88
Slippage, 4 orders: −$56.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$41.78
Costs to cover: 0.718%
Break-even: 17.4 days

Slippage from Gate: live order book, 2 min ago; Lighter: live order book, 47 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 Gate live order book, 2 min ago	4.22 bp	21.3 bp −$21	45.8 bp −$458	72.0 bp −$7,199	doesn't fit
Sell Lighter live order book, 47 min ago	3.16 bp	15.1 bp −$15	61.7 bp −$617	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	−0.0754%	1h	0.2376	+0.059%	$72K	$233K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.842%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0204%	4h	0.2374	−0.042%	$4.2M	$11.2M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0170%	1h	0.2379	+0.168%	$47K	$289K	25x	as long as short
Kraken Futures PF_WIFUSD	−0.0076%	1h	0.2379	+0.188%	$623K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0068%	4h	0.2371	−0.189%	$67K	$47K	—	as long as short
Gate WIF_USDTlong	−0.0038%	4h	0.2375	long leg	$1.2M	$6.9M	50x
dYdX WIF-USD	0.0000%	1h	0.2377	+0.084%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2380	+0.200%	$15K	—	150x	as long as short
Aster WIFUSDT	+0.0010%	4h	0.2377	+0.078%	$23K	$254K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0014%	4h	0.2371	−0.169%	$264K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2378	+0.126%	$4K	$1.3M	10x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2376	+0.046%	$132K	$540K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2376	+0.042%	$53K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2379	+0.173%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2376	+0.040%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2375	+0.007%	$17.6M	$99.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2376	+0.034%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2376	+0.042%	$6.1M	$30.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2376	+0.042%	$21.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2377	+0.084%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2376	+0.042%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2371	−0.168%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2373	−0.084%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2377	+0.084%	$539	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2380	+0.211%	$165K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2375	−0.010%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2378	+0.119%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0128% / S −0.0596%	1h	0.2379	+0.167%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2381	+0.253%	$311K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2374	−0.042%	$968K	$689K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2378	+0.145%	$0	—	15x	as long as short