Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Pacifica against Backpack−0.047%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$840.845% of the position

Long on Backpack Short on Pacifica

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)+0.081%+$8 · spread now −0.047%, 7d avg +0.015%

Together, before fees+0.319%+ Points / potential airdropPacifica: Active · farm board+$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: Pacifica is 0.062% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05737	0.0100	pay 0.0013% / 1h	18m 13s	$239K	$27K	10x
Short	Pacifica WLFI	0.05734	0.0100	get 0.0013% / 1h	18m 13s	$246K	$13K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → +0.015%: −$6.18
Slippage, 4 orders: −$66.5
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$90.68
Costs to cover: 0.845%
Break-even: never at this rate

Slippage from Backpack: live order book, 45 min ago; Pacifica: live order book, 45 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, 45 min ago	0.87 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 45 min ago	17.42 bp	29.9 bp −$30	doesn't fit	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	−0.0200%	1h	0.05737	0.000%	$32K	$15K	50x	as long as short
Kraken Futures PF_WLFIUSD	−0.0154%	1h	0.05742	+0.080%	$99K	$87K	20x	as long as short
Lighter WLFI	−0.0016%	1h	0.05733	−0.070%	$1.0M	$433K	5x	as long as short
Aster WLFIUSDT	−0.0011%	4h	0.05737	−0.008%	$1.6M	$582K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05734	−0.055%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.377%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05739	+0.035%	$521	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05735	−0.027%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.366%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0081%	8h	0.05732	−0.082%	$2K	$118	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WLFI-PERP	+0.0100%	1h	0.05734	−0.052%	$81K	$25K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05735	−0.035%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFIshort	+0.0100%	1h	0.05734	−0.047%	$246K	$13K	5x
Binance WLFIUSDT	+0.0100%	4h	0.05739	+0.042%	$138.1M	$40.6M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05732	−0.087%	$20.9M	$18.3M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05735	−0.035%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05741	+0.077%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05736	−0.017%	$3.4M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05739	+0.035%	$13.8M	$21.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05737	0.000%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05734	−0.052%	$7.9M	$3.3M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05736	−0.017%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05737	long leg	$239K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05732	−0.079%	$448K	$41K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05732	−0.095%	$275K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	+0.052%	$33K	$39K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05740	+0.052%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05737	0.000%	$117	$6K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05733	−0.078%	$133K	$488K	10x	as long as short
01 Exchange WLFIUSD	+0.0112%	1h	0.05739	+0.035%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05735	−0.040%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05746	+0.157%	$4.8M	$82K	75x	as long as short