Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: SunX against Backpack+0.035%49s7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$211as 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−$2352.351% of the position

Long on Backpack Short on SunX

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)+0.426%+$43 · spread now +0.035%, 7d avg +0.130%

Together, before fees+0.663%+$66 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: SunX is 0.096% cheaper against Backpack than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.130%. The two prices were read 49 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	0.05768	0.0100	pay 0.0013% / 1h	1m 15s	$240K	$26K	10x
Short	SunX WLFI-USDT	0.05770	0.0100	get 0.0050% / 4h	1m 15s	$38K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.130%: −$9.57
Slippage, 4 orders: −$217.11
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$244.68
Costs to cover: 2.351%
Break-even: never at this rate

Slippage from Backpack: live order book, 57 min ago; SunX: 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, 57 min ago	1.75 bp	12.6 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	43.37 bp	105.8 bp −$106	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	−0.0048%	1h	0.05737	−0.537%	$32K	$15K	50x	as long as short
Aster WLFIUSDT	−0.0021%	4h	0.05765	−0.049%	$1.6M	$576K	20x	as long as short
Lighter WLFI	−0.0008%	1h	0.05759	−0.156%	$1.0M	$445K	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.815%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05763	−0.079%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.902%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0091%	8h	0.05765	−0.054%	$2K	$118	5x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0097%	1h	0.05767	−0.017%	$523	$11K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05751	−0.286%	$449K	$40K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05766	−0.035%	$82K	$24K	5x	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	0.05760	−0.135%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05768	−0.005%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05766	−0.034%	$138.9M	$41.2M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05760	−0.139%	$21.2M	$18.7M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05760	−0.139%	$7.6M	$13.0M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05768	+0.003%	$7K	$7K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05762	−0.104%	$3.5M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05765	−0.052%	$13.3M	$21.5M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05765	−0.052%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05761	−0.121%	$7.9M	$3.4M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05768	0.000%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05768	long leg	$240K	$26K	10x
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05774	+0.102%	$282K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05770	+0.035%	$33K	$38K	50x	as long as short
SunX WLFI-USDTshort	+0.0100%	4h	0.05770	+0.035%	$38K	$1.7M	20x
SoDEX WLFI-USD	+0.0100%	1h	0.05766	−0.035%	$102	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05759	−0.158%	$133K	$483K	10x	as long as short
01 Exchange WLFIUSD	+0.0144%	1h	0.05771	+0.052%	$4K	$319	3x	as long as short
Kraken Futures PF_WLFIUSD	+0.0148%	1h	0.05768	+0.003%	$100K	$87K	20x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05763	−0.087%	$3K	—	100x	as long as short
dYdX WLFI-USD	+0.0285%	1h	0.05769	+0.016%	$11K	$970	5x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05771	+0.052%	$4.8M	$87K	75x	as long as short