Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Backpack against Hyperliquid+0.009%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.009%, 7d avg +0.016%

Together, before fees−0.221%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLFI	0.05751	0.0100	pay 0.0013% / 1h	11m 08s	$10.5M	$1.3M	5x
Short	Backpack WLFI_USDC_PERP	0.05751	0.0100	get 0.0013% / 1h	11m 08s	$239K	$27K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → +0.016%: −$0.77
Slippage, 4 orders: −$19.12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$38.89
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Backpack: live order book, 57 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 Hyperliquid live order book, 11 min ago	0.09 bp	11.2 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 57 min ago	0.87 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit

WLFI on 31 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	0.05753	+0.042%	$99K	$85K	20x	as long as short
Lighter WLFI	−0.0064%	1h	0.05747	−0.061%	$1.0M	$414K	5x	as long as short
Coinbase International WLFI-PERP-INTX	−0.0032%	1h	0.05737	−0.235%	$32K	$15K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05751	+0.009%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.130%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05755	+0.078%	$522	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05749	−0.029%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.600%	$6K	$77K	5.5x	as long as short
Aster WLFIUSDT	+0.0051%	4h	0.05754	+0.054%	$1.6M	$591K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0079%	8h	0.05745	−0.103%	$2K	$118	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange WLFIUSD	+0.0096%	1h	0.05751	+0.009%	$4K	$319	3x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05745	−0.087%	$81K	$24K	5x	as long as short
Hyperliquid WLFIlong	+0.0100%	1h	0.05751	long leg	$10.5M	$1.3M	5x
Pacifica WLFI	+0.0100%	1h	0.05750	−0.009%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05753	+0.051%	$138.1M	$40.2M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05748	−0.043%	$21.2M	$17.8M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05748	−0.043%	$7.7M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05752	+0.033%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05751	+0.009%	$3.4M	$2.9M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05758	+0.130%	$13.8M	$22.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05753	+0.043%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05747	−0.061%	$8.0M	$3.3M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05749	−0.026%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05751	+0.009%	$239K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05743	−0.122%	$448K	$41K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05751	+0.008%	$276K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05750	−0.009%	$33K	$40K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05750	−0.009%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05754	+0.061%	$118	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05748	−0.043%	$133K	$487K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05745	−0.092%	$3K	—	100x	as long as short