Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0355%/8h= −38.9% APRpaid last 24h −0.049%

Price spread now: Aster against Backpack−0.069%7-day average −0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.069%, 7d avg −0.019%

Together, before fees−0.005%+ Points / potential airdropAster: Stage 5 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Aster is 0.050% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05716	0.0100	pay 0.0013% / 1h	40m 50s	$238K	$32K	10x
Short	Aster WLFIUSDT	0.05712	−0.0255	pay 0.0127% / 4h	2h 40m	$1.6M	$568K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$74.53
Price spread: −0.069% → −0.019%: −$4.98
Slippage, 4 orders: −$19.35
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$116.86
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Backpack: live order book, 47 min ago; Aster: live order book, 2 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 Backpack live order book, 47 min ago	0.87 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.75 bp	12.9 bp −$13	45.1 bp −$451	doesn't fit	doesn't fit

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	−0.006%	$73K	$88K	20x	as long as short
Aster WLFIUSDTshort	−0.0255%	4h	0.05712	−0.069%	$1.6M	$568K	20x
Lighter WLFI	−0.0200%	1h	0.05709	−0.122%	$940K	$367K	5x	as long as short
Injective WLFI/USDC PERP	−0.0018%	1h	0.05722	+0.105%	$6K	$64K	5.5x	as long as short
OKX WLFI-USDT-SWAP	−0.0008%	4h	0.05714	−0.035%	$7.5M	$12.4M	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05720	+0.077%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.762%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05719	+0.052%	$10K	$624	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05718	+0.035%	$313	—	150x	as long as short
01 Exchange WLFIUSD	+0.0032%	1h	0.05717	+0.017%	$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	+0.0037%	8h	0.05716	−0.003%	$2K	$108	5x	as long as short
Gate WLFI_USDT	+0.0062%	4h	0.05713	−0.052%	$3.4M	$2.8M	75x	as long as short
Variational Omni WLFI	+0.0092%	4h	0.05710	−0.113%	$442K	$30K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05711	−0.087%	$79K	$28K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05712	−0.077%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05713	−0.061%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05717	+0.021%	$136.7M	$38.7M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05710	−0.105%	$20.5M	$16.9M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05719	+0.045%	$1K	$10	5x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05716	0.000%	$14.3M	$20.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05715	−0.017%	$3.2M	$936K	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05711	−0.087%	$7.9M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05710	−0.105%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05716	long leg	$238K	$32K	10x
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05720	+0.070%	$275K	$2.0M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05710	−0.105%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05720	+0.070%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05716	0.000%	$117	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05711	−0.081%	$132K	$490K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0208%	1h	0.05735	+0.332%	$33K	$16K	50x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05718	+0.035%	$4.7M	$74K	75x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0383% / S −0.2839%	1h	0.05716	−0.005%	$14K	—	100x	as long as short