Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: OKX against Backpack−0.035%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Backpack Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.035%, 7d avg −0.028%

Together, before fees+0.221%+$22 on $10k · with fees, hour by hour

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	5m 49s	$238K	$28K	10x
Short	OKX WLFI-USDT-SWAP	0.05721	0.0100	get 0.0050% / 4h	5m 49s	$7.5M	$12.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.028%: −$0.69
Slippage, 4 orders: −$18.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$38.84
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Backpack: live order book, 7 min ago; OKX: 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, 7 min ago	0.87 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.87 bp	13.6 bp −$14	29.0 bp −$290	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	−0.0436%	1h	0.05722	−0.009%	$73K	$50K	20x	as long as short
Aster WLFIUSDT	−0.0059%	4h	0.05726	+0.057%	$1.6M	$584K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05728	+0.088%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.632%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05724	+0.017%	$520	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05723	0.000%	$313	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.122%	$6K	$77K	5.5x	as long as short
Lighter WLFI	+0.0064%	1h	0.05717	−0.105%	$965K	$394K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0078%	8h	0.05730	+0.122%	$2K	$108	5x	as long as short
01 Exchange WLFIUSD	+0.0096%	1h	0.05723	0.000%	$4K	$319	3x	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	0.05722	−0.016%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05724	+0.026%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05726	+0.052%	$137.2M	$40.1M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05718	−0.087%	$20.8M	$17.7M	75x	as long as short
OKX WLFI-USDT-SWAPshort	+0.0100%	4h	0.05721	−0.035%	$7.5M	$12.8M	50x
Arcus WLFI-USD	+0.0100%	1h	0.05727	+0.063%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05723	0.000%	$3.5M	$2.9M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05722	−0.017%	$14.5M	$21.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05725	+0.035%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05720	−0.052%	$7.9M	$3.2M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05722	−0.017%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05723	long leg	$238K	$28K	10x
Variational Omni WLFI	+0.0100%	4h	0.05715	−0.145%	$443K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05728	+0.091%	$276K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05730	+0.122%	$33K	$42K	50x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05723	0.000%	$79K	$26K	5x	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	0.05722	−0.017%	$102	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05719	−0.063%	$133K	$490K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05723	−0.007%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05725	+0.035%	$4.7M	$77K	75x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0368%	1h	0.05737	+0.245%	$32K	$16K	50x	as long as short