WLFI

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.034%

Price spread now: Backpack against Lighter+0.087%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.087%, 7d avg +0.015%

Together, before fees−0.232%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.072% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.145%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLFI	0.05749	0.0008	pay 0.0001% / 1h	17m 22s	$991K	$398K	5x
Short	Backpack WLFI_USDC_PERP	0.05754	0.0100	get 0.0013% / 1h	17m 22s	$239K	$27K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now +0.087%Rate

Funding earned: $19.32
Price spread: +0.087% → +0.015%: $7.16
Slippage, 4 orders: −$25.04
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$8.56
Costs to cover: 0.350%
Break-even: 10.1 days

Slippage from Lighter: live order book, 53 min ago; Backpack: live order book, 56 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 Lighter live order book, 53 min ago	7.87 bp	8.5 bp −$8	21.8 bp −$218	doesn't fit	doesn't fit
Sell Backpack live order book, 56 min ago	0.87 bp	8.4 bp −$8	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	−0.0109%	1h	0.05757	+0.133%	$73K	$49K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05759	+0.166%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.155%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05756	+0.122%	$522	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05755	+0.111%	$315	—	150x	as long as short
Lighter WLFIlong	+0.0008%	1h	0.05749	long leg	$991K	$398K	5x
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.574%	$6K	$77K	5.5x	as long as short
Aster WLFIUSDT	+0.0070%	4h	0.05759	+0.169%	$1.6M	$587K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0089%	8h	0.05752	+0.051%	$2K	$118	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05754	+0.078%	$10.5M	$1.3M	5x	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	0.05754	+0.080%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05756	+0.122%	$137.9M	$39.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05750	+0.017%	$21.0M	$17.6M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05752	+0.052%	$7.6M	$12.7M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05758	+0.155%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05754	+0.087%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05754	+0.087%	$14.3M	$21.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05758	+0.157%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05752	+0.052%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05754	+0.087%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05754	+0.087%	$239K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05751	+0.027%	$442K	$34K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05751	+0.029%	$277K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05760	+0.191%	$33K	$41K	50x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05753	+0.070%	$80K	$24K	5x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05760	+0.191%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05756	+0.122%	$107	$6K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05752	+0.049%	$133K	$506K	10x	as long as short
01 Exchange WLFIUSD	+0.0128%	1h	0.05757	+0.139%	$4K	$319	3x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	−0.209%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05754	+0.083%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05757	+0.139%	$4.7M	$78K	75x	as long as short