Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.019%

Price spread now: Lighter against GRVT+0.497%48s7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$700.704% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.605%−$60 · spread now +0.497%, 7d avg +0.093%

Together, before fees−0.583%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$58 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 0.404% dearer against GRVT than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of +0.093%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT WIF_USDT_Perp	0.2476	0.0100	pay 0.0050% / 4h	2h 50m	$275K	$1.9M	10x
Short	Lighter WIF	0.2488	0.0096	get 0.0012% / 1h	50m 20s	$148K	$596K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now +0.497%Rate

Funding earned: −$0.84
Price spread: +0.497% → +0.093%: $40.35
Slippage, 4 orders: −$61.43
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$30.92
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Lighter: live order book, 10 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 GRVT live order book, 3 min ago	2.02 bp	32.0 bp −$32	92.8 bp −$928	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	6.36 bp	10.0 bp −$10	68.1 bp −$681	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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.242%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0174%	4h	0.2487	+0.444%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2489	+0.524%	$649K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0032%	4h	0.2486	+0.404%	$4.5M	$12.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2486	+0.404%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2487	+0.426%	$804	—	150x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2488	+0.497%	$148K	$596K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2490	+0.565%	$57K	$497K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2487	+0.444%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2486	+0.424%	$35K	$274K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2488	+0.485%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2487	+0.444%	$18.9M	$111.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2485	+0.363%	$17.0M	$37.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2487	+0.444%	$6.0M	$34.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2486	+0.404%	$22.5M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2487	+0.444%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2487	+0.444%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2478	+0.097%	$79K	$268K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	−0.036%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2476	long leg	$275K	$1.9M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2471	−0.202%	$42K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2484	+0.323%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2488	+0.489%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2489	+0.525%	$170K	$747K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	+0.482%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2488	+0.471%	$83K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0152%	1h	0.2488	+0.485%	$49K	$289K	25x	as long as short
Hyperliquid WIF	+0.0159%	1h	0.2491	+0.618%	$8.0M	$4.6M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0180% / S −0.0043%	1h	0.2486	+0.416%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2490	+0.565%	$327K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2478	+0.081%	$997K	$706K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2487	+0.449%	$0	—	15x	as long as short