Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Lighter against Binance+0.093%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.093%, 7d avg +0.038%

Together, before fees+0.018%+ Points / potential airdropLighter: Season 3 · farm board+$2 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: Lighter is 0.055% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2545	0.0100	pay 0.0050% / 4h	13m 17s	$19.6M	$149.7M	75x
Short	Lighter WIF	0.2547	0.0096	get 0.0012% / 1h	13m 17s	$146K	$711K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$0.84
Price spread: +0.093% → +0.038%: $5.51
Slippage, 4 orders: −$34.02
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$39.35
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Lighter: live order book, 17 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 Binance live order book, 15 min ago	1.99 bp	12.1 bp −$12	27.4 bp −$274	125.5 bp −$12.5K	doesn't fit
Sell Lighter live order book, 17 min ago	2.98 bp	6.6 bp −$7	59.6 bp −$596	doesn't fit	doesn't fit

WIF 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
GMX WIF/USD [WBTC.b-USDC]	L −0.0182% / S +0.0276%	1h	0.2533	−0.458%	$20K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−3.266%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2541	−0.162%	$1.0M	$963K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2541	−0.175%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2544	−0.025%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0034%	1h	0.2540	−0.210%	$76K	$310K	10x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2547	+0.093%	$146K	$711K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2544	−0.044%	$55K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2547	+0.077%	$8.9M	$6.9M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2546	+0.020%	$30K	$352K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2543	−0.099%	$79K	$74K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2545	long leg	$19.6M	$149.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2542	−0.111%	$17.0M	$49.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2543	−0.084%	$5.7M	$44.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2545	−0.005%	$1.2M	$9.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2545	−0.005%	$22.7M	$12.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2545	−0.005%	$4.3M	$17.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2544	−0.044%	$7.7M	$16.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2541	−0.162%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2517	−1.101%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2536	−0.359%	$286K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2531	−0.555%	$46K	$640K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2546	+0.034%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2542	−0.123%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2546	+0.022%	$586	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2541	−0.162%	$161K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2544	−0.049%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2546	+0.034%	$85K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0143%	1h	0.2547	+0.073%	$34K	$275K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2548	+0.113%	$338K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2544	−0.038%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0796%	1h	0.2546	+0.047%	$662K	$2.7M	50x	as long as short