Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.019%

Price spread now: Lighter against GRVT+0.104%108s7-day average −0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as 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−$630.627% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 3 days (all we have)−0.225%−$23 · spread now +0.104%, 7d avg −0.086%

Together, before fees−0.297%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.190% dearer against GRVT than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of −0.086%): +$19 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 12 days. The two prices were read 108 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	GRVT WLFI_USDT_Perp	0.05730	0.0100	pay 0.0050% / 4h	3h 59m	$276K	$1.9M	10x
Short	Lighter WLFI	0.05736	0.0048	get 0.0006% / 1h	59m 41s	$970K	$380K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpFee LighterbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$10.92
Price spread: +0.104% → −0.086%: $18.96
Slippage, 4 orders: −$53.65
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$54.61
Costs to cover: 0.627%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Lighter: live order book, 11 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 GRVT live order book, 4 min ago	8.72 bp	13.2 bp −$13	58.0 bp −$580	doesn't fit	doesn't fit
Sell Lighter live order book, 11 min ago	7.87 bp	9.3 bp −$9	22.8 bp −$228	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	0.05746	+0.285%	$73K	$50K	20x	as long as short
Aster WLFIUSDT	−0.0038%	4h	0.05742	+0.210%	$1.6M	$583K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05737	+0.121%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.502%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05744	+0.242%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.245%	$6K	$77K	5.5x	as long as short
Lighter WLFIshort	+0.0048%	1h	0.05736	+0.104%	$970K	$380K	5x
Paradex WLFI-USD-PERP	+0.0079%	8h	0.05744	+0.246%	$2K	$108	5x	as long as short
01 Exchange WLFIUSD	+0.0096%	1h	0.05745	+0.261%	$4K	$319	3x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05742	+0.201%	$79K	$26K	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	0.05740	+0.177%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05739	+0.158%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05738	+0.146%	$137.4M	$40.2M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05731	+0.016%	$20.8M	$17.7M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05732	+0.034%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05739	+0.163%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05744	+0.243%	$3.5M	$2.9M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05745	+0.261%	$14.5M	$21.3M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05745	+0.261%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05734	+0.069%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05734	+0.069%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05746	+0.278%	$239K	$28K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05727	−0.058%	$444K	$31K	—	as long as short
GRVT WLFI_USDT_Perplong	+0.0100%	4h	0.05730	long leg	$276K	$1.9M	10x
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05730	−0.001%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05750	+0.348%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05746	+0.278%	$110	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05742	+0.212%	$133K	$490K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05744	+0.240%	$3K	—	100x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0272%	1h	0.05749	+0.331%	$522	$11K	10x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05744	+0.243%	$4.7M	$77K	75x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0368%	1h	0.05737	+0.121%	$32K	$16K	50x	as long as short