Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: MEXC against Backpack+0.035%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Backpack Short on MEXC

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)+0.085%+$8 · spread now +0.035%, 7d avg +0.064%

Together, before fees+0.322%+$32 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: MEXC is 0.030% cheaper against Backpack than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05786	0.0100	pay 0.0013% / 1h	59m 08s	$241K	$26K	10x
Short	MEXC WLFI_USDT	0.05788	0.0100	get 0.0050% / 4h	1h 59m	$13.8M	$20.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.064%: −$2.99
Slippage, 4 orders: −$8.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$21.67
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Backpack: live order book, 49 min ago; MEXC: 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, 49 min ago	0.86 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.87 bp	0.9 bp −$1	6.6 bp −$66	59.0 bp −$5,899	122.1 bp −$61.1K

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	−0.0312%	1h	0.05737	−0.847%	$32K	$15K	50x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.489%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05781	−0.087%	$316	—	150x	as long as short
dYdX WLFI-USD	+0.0030%	1h	0.05780	−0.106%	$11K	$943	5x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.210%	$6K	$77K	5.5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05780	−0.104%	$1.0M	$458K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0099%	8h	0.05781	−0.091%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05776	−0.164%	$82K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05783	−0.059%	$10.6M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05787	+0.019%	$1.6M	$556K	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	0.05775	−0.183%	$246K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05788	+0.035%	$139.7M	$43.0M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05786	0.000%	$21.1M	$19.5M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05782	−0.069%	$7.7M	$13.6M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05785	−0.017%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05784	−0.035%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDTshort	+0.0100%	4h	0.05788	+0.035%	$13.8M	$20.0M	100x
KuCoin WLFIUSDTM	+0.0100%	4h	0.05784	−0.035%	$3.3M	$1.2M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05783	−0.052%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05779	−0.121%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05786	long leg	$241K	$26K	10x
Variational Omni WLFI	+0.0100%	4h	0.05774	−0.200%	$451K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05780	−0.103%	$283K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05780	−0.104%	$33K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05790	+0.069%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05784	−0.035%	$89	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05780	−0.107%	$176K	$735K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05783	−0.055%	$7K	—	100x	as long as short
01 Exchange WLFIUSD	+0.0304%	1h	0.05787	+0.017%	$4K	$319	3x	as long as short
Kraken Futures PF_WLFIUSD	+0.0306%	1h	0.05786	−0.009%	$97K	$90K	20x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05790	+0.069%	$4.8M	$86K	75x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0615%	1h	0.05788	+0.035%	$525	$11K	10x	as long as short