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 −0.001%

Price spread now: Lighter against Bitget−0.171%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.171%, 7d avg −0.015%

Together, before fees+0.073%+ Points / potential airdropLighter: Season 3 · farm board+$7 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 0.156% cheaper against Bitget than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WIFUSDT	0.2512	0.0100	pay 0.0050% / 4h	19m 36s	$7.6M	$16.3M	50x
Short	Lighter WIF	0.2508	0.0096	get 0.0012% / 1h	19m 36s	$143K	$711K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.171%Rate

Funding earned: −$0.84
Price spread: −0.171% → −0.015%: −$15.57
Slippage, 4 orders: −$37.39
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$65.8
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Lighter: live order book, 11 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 Bitget live order book, 4 min ago	1.99 bp	12.8 bp −$13	28.2 bp −$282	122.8 bp −$12.3K	doesn't fit
Sell Lighter live order book, 11 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
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−1.990%	$10K	$11K	12x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0155% / S +0.0271%	1h	0.2503	−0.377%	$19K	—	100x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2508	−0.159%	$1.0M	$951K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2506	−0.257%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2501	−0.438%	$33K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2503	−0.365%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0038%	1h	0.2501	−0.418%	$75K	$309K	10x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2508	−0.171%	$143K	$711K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2514	+0.080%	$54K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2509	−0.131%	$8.7M	$6.9M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2506	−0.220%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2506	−0.242%	$78K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2507	−0.199%	$19.2M	$149.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2505	−0.271%	$16.7M	$49.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2511	−0.040%	$5.6M	$43.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2511	−0.040%	$1.2M	$9.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2509	−0.119%	$22.4M	$12.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2507	−0.199%	$4.2M	$17.1M	75x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2512	long leg	$7.6M	$16.3M	50x
BingX WIF-USDC	+0.0100%	4h	0.2506	−0.239%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2502	−0.396%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2501	−0.438%	$282K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2505	−0.279%	$45K	$641K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2501	−0.438%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2496	−0.637%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2501	−0.450%	$576	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2495	−0.677%	$158K	$910K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2511	−0.046%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2500	−0.464%	$83K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2501	−0.438%	$333K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2499	−0.534%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0810%	1h	0.2502	−0.380%	$656K	$2.7M	50x	as long as short