Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter against Popdex+0.067%7-day average +0.011% · 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−$147as in the Price arb table

costs, in and out, $10k−$1531.528% of the position

Long on Popdex Short on Lighter

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)−0.334%−$33 · spread now +0.067%, 7d avg +0.011%

Together, before fees−0.334%+ 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: Lighter is 0.056% dearer against Popdex than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2525	0.0096	pay 0.0012% / 1h	51m 59s	$53K	$609K	20x
Short	Lighter WIF	0.2527	0.0096	get 0.0012% / 1h	51m 59s	$137K	$929K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Popdex. 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 PopdexbpFee LighterbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.011%: $5.64
Slippage, 4 orders: −$146.42
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$147.18
Costs to cover: 1.528%
Break-even: never at this rate

Slippage from Popdex: live order book, 55 min ago; Lighter: live order book, 51 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 Popdex live order book, 55 min ago	1.97 bp	39.4 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 51 min ago	5.09 bp	12.7 bp −$13	48.3 bp −$483	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
Backpack WIF_USDC_PERP	−0.0149%	1h	0.2525	−0.020%	$89K	$383K	10x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2528	+0.119%	$867K	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0122% / S +0.0183%	1h	0.2524	−0.059%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2529	+0.172%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2524	−0.040%	$34K	$251K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2525	−0.008%	$4K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2559	+1.347%	$10K	$28K	12x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2527	+0.067%	$137K	$929K	10x
Popdex WIFUSDTlong	+0.0096%	1h	0.2525	long leg	$53K	$609K	20x
Orderly PERP_WIF_USDC	+0.0098%	4h	0.2524	−0.040%	$5K	$864K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2527	+0.099%	$9.9M	$9.6M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2526	+0.040%	$31K	$415K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2529	+0.156%	$78K	$99K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2527	+0.074%	$20.5M	$178.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2526	+0.059%	$17.3M	$60.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2528	+0.119%	$6.2M	$52.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2527	+0.079%	$1.2M	$12.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2526	+0.040%	$22.0M	$15.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2525	0.000%	$3.7M	$18.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2526	+0.040%	$7.6M	$19.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2527	+0.079%	—	$27.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2542	+0.666%	$80K	$371K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2537	+0.475%	$280K	$3.4M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2539	+0.554%	$36K	$649K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2520	−0.198%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2525	−0.020%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2531	+0.238%	$158K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2525	+0.015%	$9K	$271K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2524	−0.059%	$84K	—	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0361%	1h	0.2527	+0.064%	$642K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2523	−0.086%	$1	—	15x	as long as short
Coinbase International WIF-PERP-INTX	+0.0600%	1h	0.2529	+0.158%	$344K	$4.0M	50x	as long as short