Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.039%

Price spread now: Lighter against OKX−0.087%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days+0.099%+$10 · spread now −0.087%, 7d avg −0.009%

Together, before fees+0.044%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Lighter is 0.078% cheaper against OKX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WLFI-USDT-SWAP	0.05774	0.0100	pay 0.0050% / 4h	3h 50m	$7.6M	$13.0M	50x
Short	Lighter WLFI	0.05769	0.0088	get 0.0011% / 1h	50m 50s	$1.0M	$446K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$2.52
Price spread: −0.087% → −0.009%: −$7.81
Slippage, 4 orders: −$33.72
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$54.04
Costs to cover: 0.437%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Lighter: live order book, 5 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, 2 min ago	0.87 bp	12.4 bp −$12	24.3 bp −$243	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	8.66 bp	10.1 bp −$10	21.7 bp −$217	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
dYdX WLFI-USD	0.0000%	1h	0.05771	−0.044%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.706%	—	—	—	as long as short
Aster WLFIUSDT	+0.0002%	4h	0.05775	+0.015%	$1.6M	$577K	20x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05775	+0.025%	$316	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.005%	$6K	$77K	5.5x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0048%	1h	0.05737	−0.641%	$32K	$15K	50x	as long as short
Lighter WLFIshort	+0.0088%	1h	0.05769	−0.087%	$1.0M	$446K	5x
Paradex WLFI-USD-PERP	+0.0093%	8h	0.05773	−0.026%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05773	−0.009%	$82K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05775	+0.017%	$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	0.05774	−0.002%	$248K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05779	+0.087%	$139.3M	$41.3M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05772	−0.035%	$21.1M	$18.8M	75x	as long as short
OKX WLFI-USDT-SWAPlong	+0.0100%	4h	0.05774	long leg	$7.6M	$13.0M	50x
Arcus WLFI-USD	+0.0100%	1h	0.05777	+0.061%	$7K	$7K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05774	0.000%	$3.5M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05779	+0.087%	$13.7M	$20.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05773	−0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05773	−0.017%	$7.9M	$3.4M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05774	0.000%	—	$7.3M	—	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05771	−0.043%	$450K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05772	−0.034%	$282K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05770	−0.069%	$33K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05780	+0.104%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05776	+0.035%	$97	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05772	−0.036%	$133K	$482K	10x	as long as short
Backpack WLFI_USDC_PERP	+0.0135%	1h	0.05777	+0.052%	$240K	$26K	10x	as long as short
01 Exchange WLFIUSD	+0.0152%	1h	0.05780	+0.104%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05775	+0.010%	$3K	—	100x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0269%	1h	0.05780	+0.104%	$525	$11K	10x	as long as short
Kraken Futures PF_WLFIUSD	+0.0340%	1h	0.05778	+0.075%	$100K	$87K	20x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05784	+0.173%	$4.8M	$87K	75x	as long as short