Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.051%

Price spread now: Lighter against Variational Omni−0.120%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.120% cheaper against Variational Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni WIF	0.2497	0.0100	pay 0.0050% / 4h	3h 17m	$74K	$68K	—
Short	Lighter WIF	0.2494	0.0096	get 0.0012% / 1h	17m 08s	$148K	$595K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$0.84
Price spread: −0.120% → 0.000%: −$11.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.81
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Lighter: live order book, 48 min ago. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Lighter live order book, 48 min ago	5.31 bp	13.2 bp −$13	67.9 bp −$679	doesn't fit	doesn't fit

Variational Omni: 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
Backpack WIF_USDC_PERP	−0.0213%	1h	0.2494	−0.124%	$77K	$254K	10x	as long as short
Gate WIF_USDT	−0.0200%	4h	0.2493	−0.164%	$1.3M	$7.2M	50x	as long as short
KuCoin WIFUSDTM	−0.0050%	4h	0.2491	−0.244%	$4.4M	$12.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2494	−0.140%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2494	−0.124%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2492	−0.185%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.085%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2495	−0.094%	$654K	$2.3M	50x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2494	−0.120%	$148K	$595K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2495	−0.084%	$57K	$496K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0098%	4h	0.2494	−0.124%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2493	−0.151%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2494	−0.112%	$77K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2496	−0.041%	$19.2M	$107.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2497	−0.004%	$17.2M	$37.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2496	−0.044%	$6.0M	$34.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2494	−0.124%	$22.5M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2496	−0.044%	$7.6M	$12.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2490	−0.284%	—	$2.3M	—	as long as short
Variational Omni WIFlong	+0.0100%	4h	0.2497	long leg	$74K	$68K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2499	+0.077%	$279K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2502	+0.197%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2489	−0.324%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2493	−0.160%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2491	−0.244%	$171K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2492	−0.185%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2494	−0.119%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0189% / S −0.0049%	1h	0.2492	−0.192%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0191%	1h	0.2501	+0.157%	$8.0M	$4.2M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2494	−0.124%	$336K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2493	−0.164%	$1.0M	$705K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2493	−0.179%	$0	—	15x	as long as short