Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.011%

Price spread now: Orderly against Lighter−0.025%7-day average −0.053% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now −0.025%, 7d avg −0.053%

Together, before fees+0.045%+ Points / potential airdropLighter: Season 3 · farm board+$5 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: Orderly is 0.029% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2446	0.0096	pay 0.0012% / 1h	35m 42s	$141K	$701K	10x
Short	Orderly PERP_WIF_USDC	0.2445	0.0100	get 0.0050% / 4h	1h 35m	$5K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.025%Rate

Funding earned: $0.84
Price spread: −0.025% → −0.053%: $2.86
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.3
Costs to cover: 0.060%
Break-even: 26.2 days

Slippage unknown: Lighter: live order book, 65 min ago; Orderly: no order-book sample. Net counts fees only.

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, 65 min ago	3.97 bp	6.8 bp −$7	54.9 bp −$549	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0467%	1h	0.2462	+0.671%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2452	+0.262%	$974K	$923K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0032%	1h	0.2442	−0.135%	$72K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2444	−0.083%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2444	−0.065%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2444	−0.049%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0048% / S +0.0252%	1h	0.2444	−0.061%	$21K	—	100x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2446	long leg	$141K	$701K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2446	+0.016%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2449	+0.127%	$8.5M	$6.4M	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	0.2445	−0.017%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2444	−0.051%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2445	−0.018%	$18.6M	$143.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2443	−0.106%	$16.5M	$47.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2443	−0.106%	$5.5M	$41.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2443	−0.106%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2443	−0.106%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2442	−0.147%	$4.0M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2443	−0.106%	$7.4M	$15.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2446	+0.016%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.042%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2457	+0.474%	$273K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2464	+0.752%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2445	−0.025%	$5K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2442	−0.147%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2444	−0.082%	$561	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2446	+0.016%	$144K	$897K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2442	−0.151%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2444	−0.081%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0349%	1h	0.2447	+0.047%	$634K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2444	−0.065%	$323K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2442	−0.142%	$0	—	15x	as long as short