Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Popdex against Lighter+0.195%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1751.750% of the position

Long on Lighter Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.330%+$33 · spread now +0.195%, 7d avg −0.004%

Together, before fees+0.330%+ Points / potential airdropLighter: Season 3 · farm board+$33 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: Popdex is 0.199% dearer against Lighter than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2461	0.0096	pay 0.0012% / 1h	37m 32s	$139K	$627K	10x
Short	Popdex WIFUSDT	0.2466	0.0096	get 0.0012% / 1h	37m 32s	$56K	$497K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.195%Rate

Funding earned: $0
Price spread: +0.195% → −0.004%: $19.95
Slippage, 4 orders: −$168.6
Fee Lighter: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$155.05
Costs to cover: 1.750%
Break-even: 318596241287183040.0 days

Slippage from Lighter: live order book, 18 min ago; Popdex: live order book, 26 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, 18 min ago	5.05 bp	15.3 bp −$15	76.3 bp −$763	doesn't fit	doesn't fit
Sell Popdex live order book, 26 min ago	4.04 bp	76.8 bp −$77	doesn't fit	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	−0.0177%	4h	0.2459	−0.089%	$1.0M	$818K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0081%	1h	0.2456	−0.211%	$77K	$280K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2460	−0.068%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2459	−0.089%	$46K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2459	−0.075%	$795	—	150x	as long as short
Gate WIF_USDT	+0.0026%	4h	0.2460	−0.049%	$1.2M	$7.5M	50x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.358%	$11K	$10K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2461	long leg	$139K	$627K	10x
Popdex WIFUSDTshort	+0.0096%	1h	0.2466	+0.195%	$56K	$497K	20x
Aster WIFUSDT	+0.0100%	4h	0.2460	−0.063%	$34K	$283K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2460	−0.043%	$76K	$56K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2464	+0.106%	$18.8M	$114.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2464	+0.118%	$16.9M	$38.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2467	+0.236%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2460	−0.049%	$22.2M	$11.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2458	−0.130%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2465	+0.154%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2461	−0.008%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2462	+0.013%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2456	−0.204%	$282K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2459	−0.089%	$42K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2460	−0.049%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2458	−0.130%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2459	−0.089%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2457	−0.171%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2461	−0.015%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2459	−0.078%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2459	−0.072%	$645K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0157% / S −0.0028%	1h	0.2460	−0.068%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0287%	1h	0.2470	+0.362%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2460	−0.049%	$328K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2463	+0.086%	$0	—	15x	as long as short