Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.020%

Price spread now: Lighter against KuCoin+0.103%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.103%, 7d avg +0.041%

Together, before fees+0.065%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.061% dearer against KuCoin than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WIFUSDTM	0.2434	0.0002	pay 0.0001% / 4h	3h 47m	$4.3M	$11.9M	75x
Short	Lighter WIF	0.2437	0.0096	get 0.0012% / 1h	47m 59s	$146K	$579K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.103%Rate

Funding earned: $19.74
Price spread: +0.103% → +0.041%: $6.14
Slippage, 4 orders: −$48.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$34.48
Costs to cover: 0.604%
Break-even: 19.2 days

Slippage from KuCoin: live order book, 11 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 KuCoin live order book, 11 min ago	2.05 bp	20.5 bp −$21	62.9 bp −$629	doesn't fit	doesn't fit
Sell Lighter live order book, 17 min ago	5.31 bp	13.2 bp −$13	67.9 bp −$679	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
Backpack WIF_USDC_PERP	−0.0603%	1h	0.2434	−0.012%	$72K	$252K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0161%	1h	0.2435	+0.041%	$48K	$289K	25x	as long as short
Gate WIF_USDT	−0.0104%	4h	0.2434	0.000%	$1.2M	$7.0M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2434	−0.016%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2437	+0.105%	$16K	—	150x	as long as short
KuCoin WIFUSDTMlong	+0.0002%	4h	0.2434	long leg	$4.3M	$11.9M	75x
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.602%	$10K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0040%	1h	0.2437	+0.121%	$631K	$2.2M	50x	as long as short
ApeX Omni WIFUSDT	+0.0063%	1h	0.2439	+0.205%	$43K	$631K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2436	+0.082%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WIFshort	+0.0096%	1h	0.2437	+0.103%	$146K	$579K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2432	−0.082%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2440	+0.238%	$7.7M	$4.1M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2437	+0.113%	$24K	$257K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2435	+0.025%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2436	+0.102%	$18.4M	$105.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2436	+0.082%	$16.8M	$36.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2436	+0.082%	$6.0M	$32.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2438	+0.164%	$22.0M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2437	+0.123%	$7.5M	$11.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2434	0.000%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2440	+0.252%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2445	+0.451%	$278K	$1.9M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2430	−0.164%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2435	+0.025%	$557	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2432	−0.082%	$168K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2437	+0.123%	$11K	$154K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2435	+0.051%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2436	+0.074%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2439	+0.205%	$330K	$2.4M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2439	+0.205%	$988K	$735K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2433	−0.046%	$0	—	15x	as long as short