Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h +0.004%

Price spread now: Gate against Backpack−0.035%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.035%, 7d avg +0.012%

Together, before fees+0.290%+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.047% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.193%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05723	0.0100	pay 0.0013% / 1h	21m 05s	$238K	$29K	10x
Short	Gate WLFI_USDT	0.05721	0.0074	get 0.0037% / 4h	1h 21m	$3.4M	$2.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.035%Rate

Funding earned: −$5.46
Price spread: −0.035% → +0.012%: −$4.71
Slippage, 4 orders: −$30.58
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$65.75
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from Backpack: live order book, 62 min ago; Gate: 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, 62 min ago	0.87 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.62 bp	18.6 bp −$19	35.6 bp −$356	71.5 bp −$7,154	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	−0.0704%	1h	0.05723	+0.009%	$73K	$70K	20x	as long as short
Aster WLFIUSDT	−0.0297%	4h	0.05729	+0.097%	$1.6M	$576K	20x	as long as short
Lighter WLFI	−0.0256%	1h	0.05717	−0.105%	$951K	$378K	5x	as long as short
OKX WLFI-USDT-SWAP	−0.0011%	4h	0.05720	−0.052%	$7.5M	$12.5M	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05720	−0.059%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.634%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05725	+0.035%	$10K	$624	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05723	−0.001%	$313	—	150x	as long as short
01 Exchange WLFIUSD	+0.0008%	1h	0.05725	+0.035%	$4K	$319	3x	as long as short
Paradex WLFI-USD-PERP	+0.0023%	8h	0.05725	+0.042%	$2K	$108	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLFI_USDTshort	+0.0074%	4h	0.05721	−0.035%	$3.4M	$2.8M	75x
Injective WLFI/USDC PERP	+0.0082%	1h	0.05716	−0.122%	$6K	$77K	5.5x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05704	−0.336%	$441K	$30K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05720	−0.044%	$79K	$31K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05720	−0.061%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05722	−0.012%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05724	+0.017%	$137.0M	$38.9M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05718	−0.087%	$20.6M	$17.1M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05727	+0.063%	$1K	$10	5x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05721	−0.035%	$14.8M	$21.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05724	+0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05720	−0.052%	$7.9M	$3.1M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05721	−0.035%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05723	long leg	$238K	$29K	10x
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05719	−0.074%	$277K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05710	−0.227%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05730	+0.122%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05725	+0.035%	$125	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05718	−0.081%	$132K	$490K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05724	+0.012%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05725	+0.035%	$4.7M	$76K	75x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0384%	1h	0.05737	+0.245%	$32K	$16K	50x	as long as short