Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.016%

Price spread now: GRVT against Backpack−0.123%7-day average +0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$910.915% of the position

Long on Backpack Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 3 days (all we have)+0.263%+$26 · spread now −0.123%, 7d avg +0.084%

Together, before fees+0.481%+ Points / potential airdropGRVT: Active · farm board+$48 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: GRVT is 0.206% cheaper against Backpack than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05757	0.0100	pay 0.0013% / 1h	41m 35s	$239K	$28K	10x
Short	GRVT WLFI_USDT_Perp	0.05750	0.0100	get 0.0050% / 4h	3h 41m	$278K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.123%Rate

Funding earned: $0
Price spread: −0.123% → +0.084%: −$20.63
Slippage, 4 orders: −$72.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$112.11
Costs to cover: 0.915%
Break-even: never at this rate

Slippage from Backpack: live order book, 32 min ago; GRVT: 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, 32 min ago	0.87 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	8.69 bp	29.4 bp −$29	128.5 bp −$1,285	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	−0.0109%	1h	0.05759	+0.039%	$73K	$49K	20x	as long as short
Lighter WLFI	−0.0064%	1h	0.05752	−0.087%	$986K	$393K	5x	as long as short
Aster WLFIUSDT	−0.0001%	4h	0.05754	−0.043%	$1.6M	$586K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05753	−0.069%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.009%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05759	+0.035%	$523	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05756	−0.009%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.712%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0085%	8h	0.05759	+0.038%	$2K	$108	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05756	−0.009%	$80K	$26K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFI	+0.0100%	1h	0.05756	−0.010%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05757	+0.005%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05760	+0.055%	$137.9M	$39.6M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05754	−0.052%	$21.1M	$17.7M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05756	−0.017%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05761	+0.064%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05757	0.000%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05759	+0.035%	$14.3M	$21.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05761	+0.069%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05754	−0.052%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05754	−0.052%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05757	long leg	$239K	$28K	10x
Variational Omni WLFI	+0.0100%	4h	0.05737	−0.354%	$444K	$31K	—	as long as short
GRVT WLFI_USDT_Perpshort	+0.0100%	4h	0.05750	−0.123%	$278K	$1.9M	10x
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	−0.295%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05760	+0.052%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05758	+0.017%	$106	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05754	−0.055%	$133K	$655K	10x	as long as short
01 Exchange WLFIUSD	+0.0112%	1h	0.05761	+0.069%	$4K	$319	3x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	−0.347%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05754	−0.043%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05761	+0.069%	$4.7M	$78K	75x	as long as short