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 −0.004%

Price spread now: Backpack against Gate−0.035%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.035%, 7d avg −0.012%

Together, before fees−0.209%−$21 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 0.023% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WLFI_USDT	0.05745	0.0100	pay 0.0050% / 4h	35m 14s	$3.4M	$2.8M	75x
Short	Backpack WLFI_USDC_PERP	0.05743	0.0100	get 0.0013% / 1h	35m 14s	$239K	$29K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.012%: −$2.26
Slippage, 4 orders: −$28.44
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$55.71
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Backpack: live order book, 43 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 Gate live order book, 3 min ago	3.48 bp	18.8 bp −$19	40.4 bp −$404	68.7 bp −$6,871	doesn't fit
Sell Backpack live order book, 43 min ago	0.87 bp	11.7 bp −$12	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
Kraken Futures PF_WLFIUSD	−0.0434%	1h	0.05744	−0.013%	$73K	$59K	20x	as long as short
Aster WLFIUSDT	−0.0115%	4h	0.05748	+0.045%	$1.6M	$581K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05747	+0.032%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.226%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05747	+0.037%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.505%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0070%	8h	0.05745	0.000%	$2K	$108	5x	as long as short
OKX WLFI-USDT-SWAP	+0.0096%	4h	0.05741	−0.070%	$7.5M	$12.7M	50x	as long as short
Lighter WLFI	+0.0096%	1h	0.05739	−0.104%	$963K	$387K	5x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0098%	1h	0.05749	+0.070%	$522	$11K	10x	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	0.05741	−0.061%	$79K	$27K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05742	−0.056%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05743	−0.035%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05746	+0.020%	$137.6M	$39.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05740	−0.087%	$21.0M	$17.4M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05748	+0.050%	$1K	$753	5x	as long as short
Gate WLFI_USDTlong	+0.0100%	4h	0.05745	long leg	$3.4M	$2.8M	75x
MEXC WLFI_USDT	+0.0100%	4h	0.05743	−0.035%	$15.1M	$21.2M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05746	+0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05743	−0.035%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05745	0.000%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05743	−0.035%	$239K	$29K	10x
Variational Omni WLFI	+0.0100%	4h	0.05738	−0.125%	$444K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05742	−0.053%	$275K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	−0.087%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05750	+0.087%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05746	+0.017%	$121	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05742	−0.059%	$133K	$490K	10x	as long as short
01 Exchange WLFIUSD	+0.0128%	1h	0.05746	+0.017%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05744	−0.014%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05745	0.000%	$4.7M	$72K	75x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0368%	1h	0.05737	−0.139%	$32K	$16K	50x	as long as short