Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.020%

Price spread now: KuCoin against Lighter−0.349%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$640.638% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)+0.557%+$56 · spread now −0.349%, 7d avg −0.044%

Together, before fees+0.414%+ Points / potential airdropLighter: Season 3 · farm board+$41 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: KuCoin is 0.305% cheaper against Lighter than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2491	0.0096	pay 0.0012% / 1h	21m 47s	$138K	$631K	10x
Short	KuCoin WIFUSDTM	0.2482	0.0100	get 0.0050% / 4h	21m 47s	$4.5M	$14.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.349%Rate

Funding earned: $0.84
Price spread: −0.349% → −0.044%: −$30.54
Slippage, 4 orders: −$51.8
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$93.5
Costs to cover: 0.638%
Break-even: 786.2 days

Slippage from Lighter: live order book, 29 min ago; KuCoin: live order book, 2 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, 29 min ago	3.22 bp	13.1 bp −$13	98.4 bp −$984	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	4.01 bp	24.3 bp −$24	63.4 bp −$634	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
BloFin WIF-USDT	−0.0186%	4h	0.2491	+0.012%	$993K	$832K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0158%	1h	0.2485	−0.221%	$76K	$291K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2489	−0.087%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2490	−0.028%	$45K	$256K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2491	+0.027%	$805	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.831%	$11K	$10K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2491	long leg	$138K	$631K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2494	+0.132%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2488	−0.107%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2490	−0.037%	$78K	$60K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2488	−0.089%	$18.8M	$118.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2485	−0.237%	$16.9M	$39.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2484	−0.269%	$6.0M	$36.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2489	−0.068%	$1.2M	$7.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2484	−0.269%	$23.0M	$11.4M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2482	−0.349%	$4.5M	$14.4M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2489	−0.068%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2490	−0.028%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2501	+0.415%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2501	+0.414%	$284K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2506	+0.614%	$46K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2490	−0.028%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.028%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2490	−0.048%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2487	−0.149%	$166K	$699K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2489	−0.084%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2488	−0.088%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0133% / S −0.0012%	1h	0.2490	−0.010%	$8K	—	100x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2491	+0.005%	$647K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0289%	1h	0.2495	+0.156%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2491	+0.012%	$327K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2491	−0.005%	$0	—	15x	as long as short