Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Backpack against Arcus−0.082%7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Backpack

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.082% cheaper against Arcus than usual: you would sell low and buy high, −$8 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	Arcus WLFI-USD	0.05720	0.0100	pay 0.0013% / 1h	38m 53s	$1K	$10	5x
Short	Backpack WLFI_USDC_PERP	0.05715	0.0100	get 0.0013% / 1h	38m 53s	$238K	$32K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Arcus. 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 ArcusbpFee BackpackbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → 0.000%: −$8.22
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$22.72
Costs to cover: 0.145%
Break-even: never at this rate

Slippage unknown: Arcus: no order-book sample; Backpack: live order book, 49 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 Arcus no order-book sample	—	—	—	—	—
Sell Backpack live order book, 49 min ago	0.87 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit

Arcus: 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.

WLFI 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
Kraken Futures PF_WLFIUSD	−0.0591%	1h	0.05716	−0.068%	$73K	$88K	20x	as long as short
Aster WLFIUSDT	−0.0255%	4h	0.05713	−0.125%	$1.6M	$568K	20x	as long as short
Lighter WLFI	−0.0232%	1h	0.05709	−0.187%	$940K	$367K	5x	as long as short
Deribit WLFI_USDC-PERPETUAL	−0.0100%	1h	0.05717	−0.047%	$10K	$624	10x	as long as short
Injective WLFI/USDC PERP	−0.0018%	1h	0.05722	+0.040%	$6K	$64K	5.5x	as long as short
OKX WLFI-USDT-SWAP	−0.0010%	4h	0.05713	−0.117%	$7.5M	$12.4M	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05720	+0.012%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.695%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05719	−0.014%	$313	—	150x	as long as short
01 Exchange WLFIUSD	+0.0032%	1h	0.05717	−0.047%	$4K	$319	3x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex WLFI-USD-PERP	+0.0038%	8h	0.05717	−0.049%	$2K	$108	5x	as long as short
Gate WLFI_USDT	+0.0066%	4h	0.05714	−0.100%	$3.4M	$2.8M	75x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05709	−0.195%	$441K	$30K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05715	−0.091%	$79K	$28K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05710	−0.164%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05718	−0.031%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05718	−0.030%	$136.7M	$38.7M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05713	−0.117%	$20.5M	$16.9M	75x	as long as short
Arcus WLFI-USDlong	+0.0100%	1h	0.05720	long leg	$1K	$10	5x
MEXC WLFI_USDT	+0.0100%	4h	0.05716	−0.065%	$14.3M	$20.8M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05717	−0.047%	$3.2M	$936K	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05714	−0.100%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05716	−0.065%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05715	−0.082%	$238K	$32K	10x
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05720	+0.007%	$276K	$2.0M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	+0.005%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05720	+0.005%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05715	−0.082%	$115	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05709	−0.189%	$132K	$490K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0208%	1h	0.05735	+0.267%	$33K	$16K	50x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05724	+0.075%	$4.7M	$74K	75x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0384% / S −0.2839%	1h	0.05716	−0.061%	$14K	—	100x	as long as short