Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0279%/8h= −30.6% APRpaid last 24h +0.101%

Price spread now: Bybit against Kraken Futures+0.024%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$950.951% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.024% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.191%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.191% in total (about 10.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WLFIUSD	0.05787	0.0379	pay 0.0047% / 1h	35m 48s	$97K	$90K	20x
Short	Bybit WLFIUSDT	0.05788	0.0100	get 0.0050% / 4h	2h 35m	$21.2M	$19.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$58.63
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: −$74.15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$151.39
Costs to cover: 0.951%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 68 min ago; Bybit: live order book, 8 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 Kraken Futures live order book, 68 min ago	18.12 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	0.87 bp	10.7 bp −$11	24.9 bp −$249	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	−0.0144%	1h	0.05737	−0.858%	$32K	$15K	50x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.476%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05782	−0.072%	$316	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.220%	$6K	$77K	5.5x	as long as short
dYdX WLFI-USD	+0.0049%	1h	0.05779	−0.139%	$11K	$943	5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05781	−0.097%	$1.0M	$456K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0098%	8h	0.05783	−0.061%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05781	−0.089%	$82K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05786	−0.018%	$10.6M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05787	0.000%	$1.6M	$587K	20x	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	0.05783	−0.056%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05790	+0.058%	$139.7M	$42.7M	75x	as long as short
Bybit WLFIUSDTshort	+0.0100%	4h	0.05788	+0.024%	$21.2M	$19.4M	75x
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05786	−0.011%	$7.7M	$13.5M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05786	−0.014%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05786	−0.011%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05790	+0.058%	$13.8M	$20.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05786	−0.011%	$3.3M	$1.2M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05783	−0.063%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05779	−0.132%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05787	+0.007%	$241K	$26K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05781	−0.104%	$451K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05766	−0.365%	$282K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05770	−0.287%	$33K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05790	+0.058%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05787	+0.007%	$90	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05784	−0.045%	$144K	$706K	10x	as long as short
01 Exchange WLFIUSD	+0.0192%	1h	0.05789	+0.041%	$4K	$319	3x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0268%	1h	0.05789	+0.041%	$525	$11K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05784	−0.049%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05772	−0.253%	$4.8M	$87K	75x	as long as short
Kraken Futures PF_WLFIUSDlong	+0.0379%	1h	0.05787	long leg	$97K	$90K	20x