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: KuCoin against Backpack−0.069%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$670.668% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.069%, 7d avg +0.036%

Together, before fees+0.380%+$38 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: KuCoin is 0.105% cheaper against Backpack than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05790	0.0100	pay 0.0013% / 1h	55m 22s	$241K	$26K	10x
Short	KuCoin WLFIUSDTM	0.05786	0.0100	get 0.0050% / 4h	2h 55m	$3.3M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → +0.036%: −$10.48
Slippage, 4 orders: −$44.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$77.32
Costs to cover: 0.668%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; KuCoin: live order book, 7 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, 58 min ago	0.87 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	6.93 bp	26.8 bp −$27	94.2 bp −$942	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	−0.915%	$32K	$15K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05786	−0.061%	$11K	$947	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.416%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05782	−0.137%	$316	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.278%	$6K	$77K	5.5x	as long as short
Lighter WLFI	+0.0064%	1h	0.05778	−0.207%	$1.0M	$453K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0097%	8h	0.05780	−0.174%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05783	−0.130%	$82K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05780	−0.171%	$10.6M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05783	−0.129%	$1.6M	$583K	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	0.05785	−0.092%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05787	−0.052%	$139.6M	$42.3M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05782	−0.138%	$21.2M	$19.3M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05780	−0.173%	$7.7M	$13.4M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05783	−0.116%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05785	−0.086%	$3.5M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05786	−0.069%	$13.8M	$20.3M	100x	as long as short
KuCoin WLFIUSDTMshort	+0.0100%	4h	0.05786	−0.069%	$3.3M	$1.1M	75x
Bitget WLFIUSDT	+0.0100%	4h	0.05780	−0.173%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05782	−0.138%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05790	long leg	$241K	$26K	10x
Variational Omni WLFI	+0.0100%	4h	0.05786	−0.061%	$451K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05788	−0.042%	$277K	$1.8M	10x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05790	0.000%	$39K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05790	0.000%	$94	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05778	−0.209%	$133K	$695K	10x	as long as short
01 Exchange WLFIUSD	+0.0192%	1h	0.05786	−0.069%	$4K	$319	3x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0268%	1h	0.05794	+0.069%	$526	$11K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0298% / S −0.1279%	1h	0.05783	−0.117%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05797	+0.121%	$4.7M	$87K	75x	as long as short
ApeX Omni WLFIUSDT	+0.0366%	1h	0.05790	0.000%	$34K	$38K	50x	as long as short
Kraken Futures PF_WLFIUSD	+0.0379%	1h	0.05795	+0.081%	$97K	$91K	20x	as long as short