Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Backpack against Pacifica+0.037%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.629% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.238%−$24 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now +0.037%, 7d avg −0.014%

Together, before fees−0.300%+ Points / potential airdropPacifica: Active · farm board−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.051% dearer against Pacifica than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica WLFI	0.05711	0.0100	pay 0.0013% / 1h	55m 33s	$245K	$13K	5x
Short	Backpack WLFI_USDC_PERP	0.05713	0.0100	get 0.0013% / 1h	55m 33s	$238K	$27K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → −0.014%: $5.1
Slippage, 4 orders: −$44.89
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$57.8
Costs to cover: 0.629%
Break-even: never at this rate

Slippage from Pacifica: live order book, 12 min ago; Backpack: live order book, 13 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 Pacifica live order book, 12 min ago	17.36 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 13 min ago	0.87 bp	9.6 bp −$10	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	−0.0332%	1h	0.05716	+0.084%	$73K	$48K	20x	as long as short
Lighter WLFI	−0.0160%	1h	0.05708	−0.051%	$987K	$401K	5x	as long as short
ApeX Omni WLFIUSDT	−0.0056%	1h	0.05730	+0.334%	$33K	$41K	50x	as long as short
Coinbase International WLFI-PERP-INTX	−0.0032%	1h	0.05737	+0.457%	$32K	$16K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05717	+0.108%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+5.859%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05719	+0.142%	$519	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05718	+0.117%	$313	—	150x	as long as short
01 Exchange WLFIUSD	+0.0032%	1h	0.05714	+0.054%	$4K	$319	3x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	+0.089%	$6K	$77K	5.5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLFIUSDT	+0.0048%	4h	0.05714	+0.054%	$1.6M	$589K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0074%	8h	0.05712	+0.012%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05709	−0.025%	$79K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05712	+0.019%	$10.4M	$1.3M	5x	as long as short
Pacifica WLFIlong	+0.0100%	1h	0.05711	long leg	$245K	$13K	5x
Binance WLFIUSDT	+0.0100%	4h	0.05714	+0.054%	$136.8M	$39.6M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05709	−0.033%	$20.8M	$17.5M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05709	−0.033%	$7.5M	$12.6M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05717	+0.100%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05714	+0.054%	$3.4M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05712	+0.019%	$15.0M	$21.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05717	+0.107%	$3.2M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05711	+0.002%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05714	+0.054%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05713	+0.037%	$238K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05712	+0.013%	$442K	$37K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05739	+0.492%	$276K	$1.8M	10x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05720	+0.159%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05719	+0.142%	$116	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05708	−0.048%	$133K	$489K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05715	+0.074%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05732	+0.369%	$4.7M	$78K	75x	as long as short