WLFI

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.036%

Price spread now: Lighter against Backpack−0.087%54s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.360% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.087%, 7d avg −0.015%

Together, before fees+0.236%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.072% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.144%, so the current rate has only just turned against you. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05751	0.0100	pay 0.0013% / 1h	6m 13s	$239K	$27K	10x
Short	Lighter WLFI	0.05746	−0.0080	pay 0.0010% / 1h	6m 13s	$1.0M	$414K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$37.8
Price spread: −0.087% → −0.015%: −$7.19
Slippage, 4 orders: −$26.02
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$81.02
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Backpack: live order book, 62 min ago; Lighter: live order book, 4 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	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	6.09 bp	10.8 bp −$11	20.9 bp −$209	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	−0.0329%	1h	0.05753	+0.035%	$99K	$85K	20x	as long as short
Lighter WLFIshort	−0.0080%	1h	0.05746	−0.087%	$1.0M	$414K	5x
Coinbase International WLFI-PERP-INTX	−0.0032%	1h	0.05737	−0.243%	$32K	$15K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05750	−0.019%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.120%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05749	−0.029%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.609%	$6K	$77K	5.5x	as long as short
Aster WLFIUSDT	+0.0043%	4h	0.05748	−0.059%	$1.6M	$591K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0081%	8h	0.05746	−0.094%	$2K	$118	5x	as long as short
01 Exchange WLFIUSD	+0.0096%	1h	0.05752	+0.017%	$4K	$319	3x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WLFI_USDC-PERPETUAL	+0.0098%	1h	0.05754	+0.052%	$522	$11K	10x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05745	−0.104%	$81K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05747	−0.073%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05746	−0.087%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05755	+0.070%	$138.1M	$40.1M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05747	−0.070%	$21.0M	$17.9M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05748	−0.052%	$7.7M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05754	+0.047%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05749	−0.035%	$3.4M	$2.9M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05754	+0.052%	$13.8M	$22.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05750	−0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05751	0.000%	$8.0M	$3.3M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05751	0.000%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05751	long leg	$239K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05743	−0.131%	$448K	$41K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05755	+0.063%	$276K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	−0.191%	$33K	$40K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05760	+0.156%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05753	+0.035%	$121	$6K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05747	−0.067%	$133K	$487K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05753	+0.028%	$3K	—	100x	as long as short