Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.007%

Price spread now: Binance against Lighter+0.033%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.033%, 7d avg −0.037%

Together, before fees−0.162%+ Points / potential airdropLighter: Season 3 · farm board−$16 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: Binance is 0.071% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2403	0.0096	pay 0.0012% / 1h	21m 01s	$146K	$670K	10x
Short	Binance WIFUSDT	0.2404	0.0100	get 0.0050% / 4h	2h 21m	$18.6M	$139.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.033%Rate

Funding earned: $0.84
Price spread: +0.033% → −0.037%: $7.06
Slippage, 4 orders: −$35.1
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$37.2
Costs to cover: 0.451%
Break-even: 317.0 days

Slippage from Lighter: live order book, 20 min ago; Binance: live order book, 7 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 Lighter live order book, 20 min ago	3.97 bp	6.8 bp −$7	54.9 bp −$549	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.10 bp	13.7 bp −$14	31.1 bp −$311	104.6 bp −$10.5K	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
BloFin WIF-USDT	−0.0141%	4h	0.2404	+0.042%	$970K	$906K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2404	+0.024%	$13K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2403	+0.015%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0024%	1h	0.2401	−0.100%	$74K	$317K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0088% / S +0.0031%	1h	0.2403	−0.001%	$8K	—	100x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2403	long leg	$146K	$670K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2409	+0.250%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2405	+0.079%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2403	+0.015%	$29K	$330K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2405	+0.071%	$76K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDTshort	+0.0100%	4h	0.2404	+0.033%	$18.6M	$139.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2404	+0.042%	$16.3M	$46.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2407	+0.166%	$5.5M	$39.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2402	−0.042%	$1.1M	$8.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2405	+0.083%	$21.6M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2404	+0.042%	$4.0M	$16.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2405	+0.083%	$7.3M	$15.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2401	−0.083%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2402	−0.038%	$88K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2383	−0.852%	$275K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2390	−0.541%	$44K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2403	0.000%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2400	−0.125%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2402	−0.021%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2407	+0.166%	$155K	$829K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2406	+0.118%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2404	+0.024%	$80K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0166%	1h	0.2405	+0.083%	$32K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0249%	1h	0.2401	−0.064%	$630K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2410	+0.291%	$322K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2404	+0.046%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−0.083%	$10K	$10K	12x	as long as short