Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.014%

Price spread now: GRVT against Lighter+0.192%48s7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as 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−$830.834% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now +0.192%, 7d avg +0.085%

Together, before fees+0.031%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and GRVT is 0.108% dearer against Lighter than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.085%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.065% in total (about 3.4% 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	Lighter WLFI	0.05719	−0.0152	get 0.0019% / 1h	24m 47s	$942K	$368K	5x
Short	GRVT WLFI_USDT_Perp	0.05730	0.0100	get 0.0050% / 4h	2h 24m	$274K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.192%Rate

Funding earned: $52.92
Price spread: +0.192% → +0.085%: $10.76
Slippage, 4 orders: −$74.4
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$19.72
Costs to cover: 0.834%
Break-even: 9.6 days

Slippage from Lighter: live order book, 60 min ago; GRVT: live order book, 4 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, 60 min ago	7.87 bp	8.5 bp −$8	20.4 bp −$204	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	8.73 bp	36.9 bp −$37	156.9 bp −$1,569	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	−0.0590%	1h	0.05726	+0.117%	$73K	$88K	20x	as long as short
Aster WLFIUSDT	−0.0233%	4h	0.05723	+0.070%	$1.6M	$567K	20x	as long as short
Lighter WLFIlong	−0.0152%	1h	0.05719	long leg	$942K	$368K	5x
Injective WLFI/USDC PERP	−0.0018%	1h	0.05722	+0.052%	$6K	$64K	5.5x	as long as short
OKX WLFI-USDT-SWAP	−0.0001%	4h	0.05720	+0.017%	$7.5M	$12.4M	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05722	+0.060%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.708%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05727	+0.140%	$10K	$624	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05723	+0.076%	$313	—	150x	as long as short
Paradex WLFI-USD-PERP	+0.0048%	8h	0.05726	+0.131%	$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
01 Exchange WLFIUSD	+0.0080%	1h	0.05726	+0.122%	$4K	$319	3x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05719	+0.005%	$442K	$30K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05720	+0.016%	$79K	$27K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05721	+0.030%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05722	+0.058%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05730	+0.190%	$137.1M	$38.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05725	+0.105%	$20.5M	$16.9M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05729	+0.177%	$1K	$10	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05723	+0.070%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05729	+0.175%	$15.0M	$21.0M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05728	+0.157%	$3.2M	$933K	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05727	+0.140%	$8.0M	$3.0M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05724	+0.087%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05725	+0.105%	$238K	$31K	10x	as long as short
GRVT WLFI_USDT_Perpshort	+0.0100%	4h	0.05730	+0.192%	$274K	$2.0M	10x
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	+0.017%	$33K	$40K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05730	+0.192%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05725	+0.105%	$115	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05719	+0.007%	$132K	$490K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0208%	1h	0.05735	+0.280%	$33K	$16K	50x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05726	+0.122%	$4.7M	$74K	75x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0383% / S −0.2839%	1h	0.05725	+0.103%	$14K	—	100x	as long as short