Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Backpack against SunX−0.087%7-day average −0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2192.191% of the position

Long on SunX 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 3 days (all we have)−0.529%−$53 · spread now −0.087%, 7d avg −0.130%

Together, before fees−0.766%−$77 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 0.043% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WLFI-USDT	0.05730	0.0100	pay 0.0050% / 4h	2h 56m	$38K	$1.7M	20x
Short	Backpack WLFI_USDC_PERP	0.05725	0.0100	get 0.0013% / 1h	56m 37s	$238K	$32K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → −0.130%: $4.28
Slippage, 4 orders: −$201.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$214.78
Costs to cover: 2.191%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Backpack: live order book, 31 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 SunX live order book, 9 min ago	34.84 bp	94.6 bp −$95	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 31 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	−0.0590%	1h	0.05726	−0.072%	$73K	$92K	20x	as long as short
Aster WLFIUSDT	−0.0248%	4h	0.05724	−0.105%	$1.6M	$571K	20x	as long as short
Lighter WLFI	−0.0144%	1h	0.05718	−0.209%	$942K	$364K	5x	as long as short
Injective WLFI/USDC PERP	−0.0018%	1h	0.05722	−0.140%	$6K	$64K	5.5x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05720	−0.174%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+5.511%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05726	−0.070%	$10K	$624	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05722	−0.131%	$313	—	150x	as long as short
OKX WLFI-USDT-SWAP	+0.0006%	4h	0.05718	−0.209%	$7.5M	$12.4M	50x	as long as short
Paradex WLFI-USD-PERP	+0.0039%	8h	0.05724	−0.099%	$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	0.05724	−0.105%	$4K	$319	3x	as long as short
Variational Omni WLFI	+0.0084%	4h	0.05718	−0.217%	$442K	$30K	—	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05720	−0.166%	$79K	$30K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05722	−0.147%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05722	−0.145%	$243K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05725	−0.086%	$136.9M	$38.9M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05720	−0.175%	$20.6M	$17.1M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05726	−0.072%	$1K	$10	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05722	−0.140%	$3.4M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05724	−0.105%	$14.3M	$20.6M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05723	−0.122%	$3.2M	$942K	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05720	−0.175%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05720	−0.175%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05725	−0.087%	$238K	$32K	10x
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05724	−0.108%	$273K	$2.0M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	−0.175%	$33K	$42K	50x	as long as short
SunX WLFI-USDTlong	+0.0100%	4h	0.05730	long leg	$38K	$1.7M	20x
SoDEX WLFI-USD	+0.0100%	1h	0.05724	−0.105%	$128	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05720	−0.177%	$132K	$490K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0208%	1h	0.05735	+0.087%	$33K	$16K	50x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05728	−0.035%	$4.7M	$73K	75x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0383% / S −0.2839%	1h	0.05724	−0.103%	$14K	—	100x	as long as short