Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.032%

Price spread now: Lighter against Variational Omni+0.056%7-day average +0.014% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 3 days (all we have)−0.082%−$8 · spread now +0.056%, 7d avg +0.014%

Together, before fees−0.090%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.042% dearer against Variational Omni than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of +0.014%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.008% in total) that is about 18 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.008% in total (about -0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni WLFI	0.05733	0.0100	pay 0.0050% / 4h	1h 10m	$443K	$30K	—
Short	Lighter WLFI	0.05736	−0.0184	pay 0.0023% / 1h	10m 55s	$957K	$381K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$59.64
Price spread: +0.056% → +0.014%: $4.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$55.44
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 8 min ago; Lighter: live order book, 4 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 Variational Omni RFQ quote, 8 min ago	4.37 bp	doesn't fit	28.8 bp −$288	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	5.24 bp	5.2 bp −$5	23.1 bp −$231	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	−0.0702%	1h	0.05741	+0.152%	$73K	$67K	20x	as long as short
Aster WLFIUSDT	−0.0245%	4h	0.05742	+0.159%	$1.6M	$579K	20x	as long as short
Lighter WLFIshort	−0.0184%	1h	0.05736	+0.056%	$957K	$381K	5x
dYdX WLFI-USD	0.0000%	1h	0.05740	+0.128%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.454%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05739	+0.108%	$10K	$624	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05740	+0.124%	$314	—	150x	as long as short
OKX WLFI-USDT-SWAP	+0.0011%	4h	0.05737	+0.074%	$7.5M	$12.6M	50x	as long as short
01 Exchange WLFIUSD	+0.0024%	1h	0.05739	+0.108%	$4K	$319	3x	as long as short
Paradex WLFI-USD-PERP	+0.0037%	8h	0.05736	+0.051%	$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
Injective WLFI/USDC PERP	+0.0082%	1h	0.05716	−0.293%	$6K	$77K	5.5x	as long as short
Variational Omni WLFIlong	+0.0100%	4h	0.05733	long leg	$443K	$30K	—
Nado WLFI-PERP	+0.0100%	1h	0.05735	+0.039%	$79K	$31K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05741	+0.136%	$10.5M	$1.2M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05735	+0.037%	$244K	$10K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05743	+0.178%	$137.5M	$39.1M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05738	+0.091%	$20.8M	$17.2M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05741	+0.136%	$1K	$10	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05741	+0.143%	$3.4M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05743	+0.178%	$14.9M	$21.1M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05742	+0.161%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05745	+0.213%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05740	+0.126%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05740	+0.126%	$239K	$29K	10x	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05730	−0.049%	$277K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	+0.126%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05740	+0.126%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05742	+0.161%	$131	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05740	+0.132%	$133K	$490K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05736	+0.049%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05743	+0.178%	$4.7M	$77K	75x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0384%	1h	0.05737	+0.074%	$32K	$16K	50x	as long as short