Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h +0.002%

Price spread now: Backpack against OKX+0.140%46s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as 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−$380.381% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.186%−$19 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.140%, 7d avg +0.027%

Together, before fees−0.326%−$33 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 0.113% dearer against OKX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.186%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WLFI-USDT-SWAP	0.05709	−0.0011	get 0.0005% / 4h	2h 34m	$7.5M	$12.4M	50x
Short	Backpack WLFI_USDC_PERP	0.05717	0.0100	get 0.0013% / 1h	34m 18s	$238K	$31K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.140%Rate

Funding earned: $23.29
Price spread: +0.140% → +0.027%: $11.34
Slippage, 4 orders: −$18.13
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$3.5
Costs to cover: 0.381%
Break-even: 8.1 days

Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 54 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 OKX live order book, 4 min ago	0.88 bp	11.2 bp −$11	25.0 bp −$250	doesn't fit	doesn't fit
Sell Backpack live order book, 54 min ago	0.87 bp	9.5 bp −$9	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	−0.0591%	1h	0.05716	+0.116%	$73K	$88K	20x	as long as short
Aster WLFIUSDT	−0.0255%	4h	0.05716	+0.123%	$1.6M	$568K	20x	as long as short
Lighter WLFI	−0.0192%	1h	0.05709	0.000%	$940K	$367K	5x	as long as short
Injective WLFI/USDC PERP	−0.0018%	1h	0.05722	+0.228%	$6K	$64K	5.5x	as long as short
OKX WLFI-USDT-SWAPlong	−0.0011%	4h	0.05709	long leg	$7.5M	$12.4M	50x
dYdX WLFI-USD	0.0000%	1h	0.05720	+0.200%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.893%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05720	+0.193%	$10K	$624	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05718	+0.164%	$313	—	150x	as long as short
Paradex WLFI-USD-PERP	+0.0043%	8h	0.05720	+0.193%	$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	+0.0048%	1h	0.05717	+0.140%	$4K	$319	3x	as long as short
Gate WLFI_USDT	+0.0070%	4h	0.05715	+0.105%	$3.4M	$2.8M	75x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05712	+0.046%	$79K	$27K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05711	+0.037%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05713	+0.067%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05717	+0.148%	$136.7M	$38.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05709	0.000%	$20.4M	$16.9M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05720	+0.186%	$1K	$10	5x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05717	+0.140%	$14.6M	$20.9M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05716	+0.123%	$3.2M	$931K	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05714	+0.088%	$8.0M	$3.0M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05715	+0.105%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05717	+0.140%	$238K	$31K	10x
Variational Omni WLFI	+0.0100%	4h	0.05707	−0.030%	$442K	$30K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05719	+0.171%	$276K	$2.0M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	+0.193%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05720	+0.193%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05716	+0.123%	$115	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05710	+0.024%	$132K	$490K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0208%	1h	0.05735	+0.455%	$33K	$16K	50x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05715	+0.105%	$4.7M	$74K	75x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0383% / S −0.2839%	1h	0.05716	+0.121%	$14K	—	100x	as long as short