Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Lighter against MEXC+0.021%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.253%−$25 · spread now +0.021%, 7d avg +0.045%

Together, before fees−0.215%+ Points / potential airdropLighter: Season 3 · farm board−$21 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: Lighter is 0.024% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2379	0.0100	pay 0.0050% / 4h	2h 20m	$21.2M	$10.8M	50x
Short	Lighter WIF	0.2379	0.0096	get 0.0012% / 1h	20m 39s	$132K	$540K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$0.84
Price spread: +0.021% → +0.045%: −$2.4
Slippage, 4 orders: −$44.33
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$51.57
Costs to cover: 0.483%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Lighter: live order book, 63 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 MEXC live order book, 3 min ago	2.10 bp	9.8 bp −$10	21.5 bp −$215	98.2 bp −$9,817	148.9 bp −$74.5K
Sell Lighter live order book, 63 min ago	3.16 bp	15.1 bp −$15	61.7 bp −$617	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
Backpack WIF_USDC_PERP	−0.0637%	1h	0.2378	−0.050%	$74K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0590%	1h	0.2379	0.000%	$47K	$289K	25x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.673%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0190%	4h	0.2378	−0.042%	$4.2M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0076%	1h	0.2382	+0.116%	$629K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0011%	4h	0.2382	+0.123%	$67K	$47K	—	as long as short
dYdX WIF-USD	0.0000%	1h	0.2380	+0.037%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2380	+0.042%	$15K	—	150x	as long as short
Aster WIFUSDT	+0.0037%	4h	0.2379	−0.019%	$23K	$254K	10x	as long as short
Gate WIF_USDT	+0.0054%	4h	0.2378	−0.042%	$1.2M	$6.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0054%	4h	0.2379	+0.018%	$273K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2380	+0.042%	$5K	$1.3M	10x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2379	+0.021%	$132K	$540K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2379	0.000%	$53K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2382	+0.126%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2379	+0.018%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2378	−0.037%	$17.6M	$99.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2379	0.000%	$16.7M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2378	−0.042%	$6.0M	$30.2M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2379	long leg	$21.2M	$10.8M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2379	0.000%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2380	+0.042%	—	$2.3M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2383	+0.168%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2376	−0.126%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2379	−0.021%	$542	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2381	+0.084%	$165K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2377	−0.065%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2379	−0.020%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0148% / S −0.0732%	1h	0.2379	+0.012%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2381	+0.084%	$312K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2380	+0.042%	$966K	$690K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2378	−0.026%	$0	—	15x	as long as short