Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Bitget against Backpack−0.069%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.069%, 7d avg −0.008%

Together, before fees+0.236%+$24 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: Bitget is 0.061% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05796	0.0100	pay 0.0013% / 1h	43m 51s	$241K	$26K	10x
Short	Bitget WLFIUSDT	0.05792	0.0100	get 0.0050% / 4h	2h 43m	$7.9M	$3.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.008%: −$6.07
Slippage, 4 orders: −$20.45
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.52
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Bitget: live order book, 5 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, 4 min ago	0.86 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.73 bp	13.2 bp −$13	24.3 bp −$243	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
Coinbase International WLFI-PERP-INTX	−0.0144%	1h	0.05737	−1.018%	$32K	$15K	50x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.307%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05793	−0.060%	$317	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.380%	$6K	$77K	5.5x	as long as short
dYdX WLFI-USD	+0.0075%	1h	0.05788	−0.139%	$11K	$943	5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05787	−0.155%	$1.0M	$454K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0098%	8h	0.05793	−0.058%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05790	−0.095%	$82K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05790	−0.104%	$10.6M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05792	−0.074%	$1.6M	$585K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLFI	+0.0100%	1h	0.05790	−0.100%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05795	−0.017%	$139.8M	$42.3M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05790	−0.104%	$21.2M	$19.3M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05791	−0.086%	$7.7M	$13.4M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05792	−0.060%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05794	−0.035%	$3.5M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05796	0.000%	$13.8M	$20.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05793	−0.052%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDTshort	+0.0100%	4h	0.05792	−0.069%	$7.9M	$3.5M	75x
BingX WLFI-USDC	+0.0100%	4h	0.05791	−0.086%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05796	long leg	$241K	$26K	10x
Variational Omni WLFI	+0.0100%	4h	0.05790	−0.095%	$452K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05791	−0.087%	$277K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05790	−0.104%	$34K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05800	+0.069%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05795	−0.017%	$95	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05788	−0.130%	$133K	$695K	10x	as long as short
01 Exchange WLFIUSD	+0.0200%	1h	0.05796	0.000%	$4K	$319	3x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0268%	1h	0.05798	+0.035%	$526	$11K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05794	−0.043%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05796	0.000%	$4.8M	$87K	75x	as long as short
Kraken Futures PF_WLFIUSD	+0.0378%	1h	0.05798	+0.041%	$97K	$91K	20x	as long as short