Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Bybit against Backpack−0.070%7-day average −0.004% · 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−$48as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.070%, 7d avg −0.004%

Together, before fees+0.224%+$22 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: Bybit is 0.066% cheaper against Backpack than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05744	0.0100	pay 0.0013% / 1h	9m 01s	$239K	$27K	10x
Short	Bybit WLFIUSDT	0.05740	0.0100	get 0.0050% / 4h	2h 09m	$21.1M	$17.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.004%: −$6.56
Slippage, 4 orders: −$20.43
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.99
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Backpack: live order book, 59 min ago; Bybit: 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, 59 min ago	0.87 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.87 bp	12.4 bp −$12	27.5 bp −$275	doesn't fit	doesn't fit

WLFI on 31 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	−0.0330%	1h	0.05747	+0.044%	$99K	$85K	20x	as long as short
Lighter WLFI	−0.0080%	1h	0.05739	−0.087%	$1.0M	$414K	5x	as long as short
Coinbase International WLFI-PERP-INTX	−0.0032%	1h	0.05737	−0.122%	$32K	$15K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05745	+0.016%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.248%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05746	+0.035%	$522	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05745	+0.010%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.487%	$6K	$77K	5.5x	as long as short
Aster WLFIUSDT	+0.0043%	4h	0.05748	+0.062%	$1.6M	$591K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0079%	8h	0.05744	−0.008%	$2K	$118	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange WLFIUSD	+0.0096%	1h	0.05746	+0.035%	$4K	$319	3x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05740	−0.064%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05745	+0.012%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05746	+0.035%	$137.9M	$40.2M	75x	as long as short
Bybit WLFIUSDTshort	+0.0100%	4h	0.05740	−0.070%	$21.1M	$17.8M	75x
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05739	−0.087%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05750	+0.097%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05743	−0.017%	$3.4M	$2.9M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05745	+0.017%	$13.8M	$22.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05746	+0.035%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05744	0.000%	$8.0M	$3.3M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05743	−0.017%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05744	long leg	$239K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05743	−0.009%	$448K	$41K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05756	+0.216%	$276K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05750	+0.104%	$33K	$40K	50x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05744	+0.009%	$81K	$24K	5x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05750	+0.104%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05745	+0.017%	$122	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05739	−0.086%	$133K	$487K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05743	−0.010%	$3K	—	100x	as long as short