Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: OKX against Lighter−0.086%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now −0.086%, 7d avg −0.017%

Together, before fees+0.019%+ Points / potential airdropLighter: Season 3 · farm board+$2 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: OKX is 0.069% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2566	0.0096	pay 0.0012% / 1h	10m 22s	$123K	$964K	10x
Short	OKX WIF-USDT-SWAP	0.2564	0.0100	get 0.0050% / 4h	10m 22s	$6.4M	$53.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0.84
Price spread: −0.086% → −0.017%: −$6.87
Slippage, 4 orders: −$40.25
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$56.29
Costs to cover: 0.503%
Break-even: 476.1 days

Slippage from Lighter: live order book, 28 min ago; OKX: 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, 28 min ago	2.93 bp	18.8 bp −$19	90.0 bp −$900	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.94 bp	12.6 bp −$13	32.8 bp −$328	doesn't fit	doesn't fit

WIF on 32 exchanges

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	−0.0153%	4h	0.2570	+0.148%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0125% / S +0.0186%	1h	0.2568	+0.072%	$9K	—	100x	as long as short
Backpack WIF_USDC_PERP	−0.0049%	1h	0.2567	+0.039%	$85K	$403K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2572	+0.237%	$20K	$8K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2565	−0.047%	$34K	$218K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2567	+0.031%	$4K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2575	+0.343%	$8K	$33K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2566	long leg	$123K	$964K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2568	+0.070%	$55K	$581K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2566	−0.016%	$10.5M	$10.2M	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2566	−0.008%	$33K	$414K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2571	+0.185%	$79K	$101K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2564	−0.078%	$21.1M	$182.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2564	−0.078%	$17.7M	$61.2M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2564	−0.086%	$6.4M	$53.6M	50x
Gate WIF_USDT	+0.0100%	4h	0.2566	−0.008%	$1.2M	$13.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2567	+0.031%	$22.8M	$16.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2568	+0.070%	$3.8M	$19.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2566	−0.008%	$7.8M	$20.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2564	−0.086%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2566	+0.004%	$76K	$513K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2562	−0.171%	$284K	$3.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2555	−0.436%	$36K	$648K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2563	−0.125%	$5K	$758K	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2560	−0.242%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2565	−0.062%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2565	−0.047%	$153K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2564	−0.081%	$14K	$269K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2564	−0.094%	$86K	—	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0356%	1h	0.2566	−0.020%	$655K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2567	+0.024%	$1	—	15x	as long as short
Coinbase International WIF-PERP-INTX	+0.0600%	1h	0.2576	+0.382%	$349K	$4.2M	50x	as long as short