Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.010%

Price spread now: Gate against Lighter+0.090%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on Lighter Short on Gate

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)−0.046%−$5 · spread now +0.090%, 7d avg −0.027%

Together, before fees−0.143%+ Points / potential airdropLighter: Season 3 · farm board−$14 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: Gate is 0.117% dearer against Lighter than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2438	0.0096	pay 0.0012% / 1h	7m 49s	$136K	$571K	10x
Short	Gate WIF_USDT	0.2440	0.0100	get 0.0050% / 4h	7m 49s	$1.2M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.090%Rate

Funding earned: $0.84
Price spread: +0.090% → −0.027%: $11.72
Slippage, 4 orders: −$52.42
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$54.86
Costs to cover: 0.674%
Break-even: 464.2 days

Slippage from Lighter: live order book, 63 min ago; Gate: live order book, 1 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, 63 min ago	3.30 bp	13.2 bp −$13	56.2 bp −$562	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.09 bp	26.7 bp −$27	142.4 bp −$1,424	270.3 bp −$27.0K	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	−0.0397%	1h	0.2441	+0.131%	$75K	$250K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2439	+0.035%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2444	+0.254%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2443	+0.196%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0020%	4h	0.2439	+0.049%	$4.3M	$11.7M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.756%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0094%	4h	0.2443	+0.213%	$5K	$1.3M	10x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2438	long leg	$136K	$571K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2439	+0.049%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2443	+0.213%	$7.6M	$4.1M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2442	+0.158%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2438	+0.015%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2436	−0.070%	$18.3M	$104.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2440	+0.070%	$16.8M	$36.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2436	−0.074%	$6.0M	$32.3M	50x	as long as short
Gate WIF_USDTshort	+0.0100%	4h	0.2440	+0.090%	$1.2M	$7.0M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2439	+0.049%	$22.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2440	+0.090%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2440	+0.090%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2425	−0.519%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2429	−0.362%	$275K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2436	−0.074%	$43K	$626K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2435	−0.115%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2442	+0.193%	$557	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2442	+0.172%	$168K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2438	−0.011%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2443	+0.213%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2443	+0.200%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2445	+0.295%	$321K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0319%	1h	0.2445	+0.284%	$634K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2435	−0.115%	$984K	$732K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2439	+0.035%	$0	—	15x	as long as short