Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0025%/8h= −2.8% APRpaid last 24h −0.006%

Price spread now: Paradex against Backpack−0.118%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.118% cheaper against Backpack than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05767	0.0100	pay 0.0013% / 1h	49m 33s	$240K	$27K	10x
Short	Paradex WLFI-USD-PERP	0.05760	0.0075	get 0.0075% / 8h	6h 49m	$2K	$118	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$5.33
Price spread: −0.118% → 0.000%: −$11.81
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$31.15
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 19 min ago; Paradex: no order-book sample. Net counts fees only.

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, 19 min ago	0.87 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0329%	1h	0.05767	+0.002%	$73K	$48K	20x	as long as short
Lighter WLFI	−0.0144%	1h	0.05756	−0.191%	$998K	$404K	5x	as long as short
Coinbase International WLFI-PERP-INTX	−0.0032%	1h	0.05737	−0.520%	$32K	$16K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05759	−0.136%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+4.828%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05761	−0.104%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.884%	$6K	$77K	5.5x	as long as short
01 Exchange WLFIUSD	+0.0040%	1h	0.05762	−0.087%	$4K	$319	3x	as long as short
Aster WLFIUSDT	+0.0045%	4h	0.05764	−0.053%	$1.6M	$590K	20x	as long as short
Paradex WLFI-USD-PERPshort	+0.0075%	8h	0.05760	−0.118%	$2K	$118	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WLFI_USDC-PERPETUAL	+0.0097%	1h	0.05768	+0.017%	$524	$11K	10x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05749	−0.312%	$80K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05763	−0.076%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05761	−0.099%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05763	−0.061%	$138.0M	$39.7M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05753	−0.243%	$21.0M	$17.5M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05754	−0.225%	$7.6M	$12.7M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05765	−0.035%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05762	−0.087%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05763	−0.069%	$15.1M	$21.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05767	0.000%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05759	−0.139%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05760	−0.121%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05767	long leg	$240K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05749	−0.319%	$445K	$37K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05737	−0.513%	$276K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05750	−0.295%	$33K	$43K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05770	+0.052%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05765	−0.035%	$126	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05756	−0.197%	$133K	$489K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05763	−0.066%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05753	−0.243%	$4.8M	$78K	75x	as long as short