Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Backpack against Reya−5.464%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 5.464% cheaper against Reya than usual: you would sell low and buy high (spread −5.464% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$546 on $10k: about 6 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLFIRUSDPERP	0.06045	0	get 0.0000% / 1h	2m 04s	—	—	—
Short	Backpack WLFI_USDC_PERP	0.05715	0.0100	get 0.0013% / 1h	2m 04s	$238K	$31K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now −5.464%Rate

Funding earned: $21
Price spread: −5.464% → 0.000%: −$546.45
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$541.45
Costs to cover: 0.160%
Break-even: 187.5 days

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 21 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 21 min ago	0.87 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.05714	−5.475%	$73K	$88K	20x	as long as short
Aster WLFIUSDT	−0.0271%	4h	0.05713	−5.498%	$1.6M	$568K	20x	as long as short
Lighter WLFI	−0.0184%	1h	0.05708	−5.580%	$942K	$371K	5x	as long as short
Deribit WLFI_USDC-PERPETUAL	−0.0100%	1h	0.05717	−5.431%	$10K	$624	10x	as long as short
Injective WLFI/USDC PERP	−0.0018%	1h	0.05722	−5.349%	$6K	$64K	5.5x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05712	−5.509%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERPlong	0.0000%	1h	0.06045	long leg	—	—	—
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05714	−5.474%	$312	—	150x	as long as short
OKX WLFI-USDT-SWAP	+0.0010%	4h	0.05709	−5.564%	$7.5M	$12.4M	50x	as long as short
Paradex WLFI-USD-PERP	+0.0022%	8h	0.05715	−5.463%	$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	+0.0056%	1h	0.05716	−5.448%	$4K	$319	3x	as long as short
Hyperliquid WLFI	+0.0057%	1h	0.05710	−5.551%	$10.5M	$1.2M	5x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05703	−5.659%	$441K	$30K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05710	−5.548%	$79K	$31K	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05712	−5.512%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05716	−5.441%	$136.7M	$38.7M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05709	−5.564%	$20.5M	$17.0M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05717	−5.440%	$1K	$10	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05711	−5.531%	$3.4M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05716	−5.448%	$14.9M	$21.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05712	−5.514%	$3.2M	$1.0M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05712	−5.514%	$7.9M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05710	−5.547%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05715	−5.464%	$238K	$31K	10x
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05710	−5.545%	$272K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05710	−5.547%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05720	−5.382%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05715	−5.464%	$115	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05709	−5.561%	$132K	$490K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0208%	1h	0.05737	−5.101%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05715	−5.460%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05712	−5.514%	$4.7M	$74K	75x	as long as short