Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Lighter−0.272%7-day average −0.215% · you buy dearer than you sell

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1821.818% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.272%, 7d avg −0.215%

Together, before fees+0.106%+ Points / potential airdropLighter: Season 3 · farm board+$11 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: SunX is 0.057% cheaper against Lighter than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.215%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2500	0.0096	pay 0.0012% / 1h	54m 57s	$146K	$805K	10x
Short	SunX WIF-USDT	0.2493	0.0100	get 0.0050% / 4h	3h 54m	$2K	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.272%Rate

Funding earned: $0.84
Price spread: −0.272% → −0.215%: −$5.73
Slippage, 4 orders: −$173.77
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$186.66
Costs to cover: 1.818%
Break-even: 1562.5 days

Slippage from Lighter: live order book, 35 min ago; SunX: live order book, 3 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, 35 min ago	2.98 bp	14.8 bp −$15	59.8 bp −$598	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	33.91 bp	64.5 bp −$65	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
GMX WIF/USD [WBTC.b-USDC]	L −0.0285% / S +0.0297%	1h	0.2497	−0.122%	$19K	—	100x	as long as short
Gate WIF_USDT	−0.0168%	4h	0.2475	−0.992%	$1.3M	$11.0M	50x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2499	−0.032%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2495	−0.212%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2496	−0.152%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2496	−0.169%	$4K	—	150x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2500	long leg	$146K	$805K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2495	−0.192%	$53K	$579K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2498	−0.088%	$9.9M	$8.7M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2477	−0.909%	$41K	$406K	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	0.2498	−0.092%	$78K	$84K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2477	−0.903%	$19.6M	$163.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2476	−0.952%	$17.0M	$54.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2473	−1.072%	$5.8M	$47.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2477	−0.912%	$24.1M	$15.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2482	−0.712%	$3.9M	$17.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2483	−0.672%	$7.5M	$18.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2485	−0.592%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2495	−0.192%	$78K	$328K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2513	+0.531%	$74K	$364K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2493	−0.272%	$279K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2486	−0.552%	$34K	$652K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2497	−0.112%	$6K	$1.1M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2493	−0.272%	$2K	$3.2M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2496	−0.144%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2491	−0.352%	$154K	$943K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2484	−0.640%	$10K	$211K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2498	−0.090%	$83K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2497	−0.112%	$333K	$3.8M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2480	−0.792%	$10K	$27K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2494	−0.228%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0741%	1h	0.2498	−0.075%	$645K	$2.9M	50x	as long as short