Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Backpack against Bybit−0.069%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.069%, 7d avg +0.007%

Together, before fees−0.118%−$12 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: Backpack is 0.075% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WLFIUSDT	0.05805	0.0100	pay 0.0050% / 4h	3h 12m	$21.1M	$19.2M	75x
Short	Backpack WLFI_USDC_PERP	0.05801	0.0100	get 0.0013% / 1h	12m 59s	$241K	$26K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → +0.007%: −$7.55
Slippage, 4 orders: −$18.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$47.4
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Backpack: live order book, 40 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 Bybit live order book, 1 min ago	0.86 bp	9.7 bp −$10	32.5 bp −$325	doesn't fit	doesn't fit
Sell Backpack live order book, 40 min ago	0.87 bp	10.4 bp −$10	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
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.147%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05800	−0.083%	$317	—	150x	as long as short
dYdX WLFI-USD	+0.0012%	1h	0.05792	−0.217%	$11K	$970	5x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.533%	$6K	$77K	5.5x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0048%	1h	0.05737	−1.171%	$32K	$15K	50x	as long as short
Lighter WLFI	+0.0064%	1h	0.05793	−0.207%	$1.0M	$451K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0097%	8h	0.05791	−0.236%	$2K	$118	5x	as long as short
Aster WLFIUSDT	+0.0099%	4h	0.05804	−0.023%	$1.6M	$579K	20x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05795	−0.164%	$82K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05797	−0.140%	$10.6M	$1.3M	5x	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	0.05792	−0.233%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05807	+0.034%	$140.0M	$42.1M	75x	as long as short
Bybit WLFIUSDTlong	+0.0100%	4h	0.05805	long leg	$21.1M	$19.2M	75x
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05798	−0.121%	$7.7M	$13.4M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05798	−0.126%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05800	−0.086%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05808	+0.052%	$13.5M	$20.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05804	−0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05803	−0.034%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05800	−0.086%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05801	−0.069%	$241K	$26K	10x
Variational Omni WLFI	+0.0100%	4h	0.05795	−0.164%	$452K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05798	−0.124%	$282K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05800	−0.086%	$34K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05800	−0.086%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05801	−0.069%	$104	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05798	−0.123%	$136K	$480K	10x	as long as short
01 Exchange WLFIUSD	+0.0152%	1h	0.05802	−0.052%	$4K	$319	3x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0267%	1h	0.05804	−0.017%	$527	$11K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0298% / S −0.1279%	1h	0.05803	−0.041%	$7K	—	100x	as long as short
Kraken Futures PF_WLFIUSD	+0.0338%	1h	0.05802	−0.054%	$97K	$91K	20x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05804	−0.017%	$4.9M	$88K	75x	as long as short