Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.038%

Price spread now: Lighter against KuCoin−0.122%7-day average −0.050% · 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−$71as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.122%, 7d avg −0.050%

Together, before fees−0.051%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Lighter is 0.072% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% 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	KuCoin WLFIUSDTM	0.05725	0.0100	pay 0.0050% / 4h	3h 53m	$3.3M	$1.1M	75x
Short	Lighter WLFI	0.05718	−0.0184	pay 0.0023% / 1h	53m 04s	$969K	$382K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$59.64
Price spread: −0.122% → −0.050%: −$7.23
Slippage, 4 orders: −$51.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$130.18
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Lighter: live order book, 17 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 KuCoin live order book, 4 min ago	4.36 bp	20.1 bp −$20	88.7 bp −$887	doesn't fit	doesn't fit
Sell Lighter live order book, 17 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
Lighter WLFIshort	−0.0184%	1h	0.05718	−0.122%	$969K	$382K	5x
Kraken Futures PF_WLFIUSD	−0.0110%	1h	0.05725	0.000%	$73K	$50K	20x	as long as short
Aster WLFIUSDT	−0.0043%	4h	0.05724	−0.017%	$1.6M	$587K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05725	−0.009%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.597%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05723	−0.035%	$519	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05724	−0.019%	$313	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.157%	$6K	$77K	5.5x	as long as short
01 Exchange WLFIUSD	+0.0040%	1h	0.05725	0.000%	$4K	$319	3x	as long as short
Paradex WLFI-USD-PERP	+0.0080%	8h	0.05724	−0.011%	$2K	$108	5x	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	0.05724	−0.017%	$79K	$26K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05722	−0.059%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05723	−0.035%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05726	+0.014%	$137.1M	$40.2M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05725	0.000%	$20.9M	$17.8M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05722	−0.052%	$7.5M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05727	+0.030%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05721	−0.070%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05723	−0.035%	$14.5M	$21.3M	100x	as long as short
KuCoin WLFIUSDTMlong	+0.0100%	4h	0.05725	long leg	$3.3M	$1.1M	75x
Bitget WLFIUSDT	+0.0100%	4h	0.05727	+0.035%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05720	−0.087%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05724	−0.017%	$238K	$28K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05718	−0.127%	$443K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05728	+0.060%	$276K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	−0.087%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05730	+0.087%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05724	−0.017%	$102	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05721	−0.066%	$138K	$495K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	+0.210%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05723	−0.030%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05722	−0.052%	$4.7M	$77K	75x	as long as short