Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.007%

Price spread now: Binance against Lighter+0.021%7-day average −0.039% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$460.462% of the position

Long on Lighter Short on Binance

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)−0.062%−$6 · spread now +0.021%, 7d avg −0.039%

Together, before fees−0.100%+ Points / potential airdropLighter: Season 3 · farm board−$10 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: Binance is 0.061% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2489	0.0096	pay 0.0012% / 1h	15m 33s	$138K	$631K	10x
Short	Binance WIFUSDT	0.2490	0.0100	get 0.0050% / 4h	15m 33s	$18.8M	$119.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.021%Rate

Funding earned: $0.84
Price spread: +0.021% → −0.039%: $6.06
Slippage, 4 orders: −$36.22
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$39.32
Costs to cover: 0.462%
Break-even: 334.6 days

Slippage from Lighter: live order book, 35 min ago; Binance: live order book, 12 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 Lighter live order book, 35 min ago	3.22 bp	13.1 bp −$13	98.4 bp −$984	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	2.00 bp	12.9 bp −$13	36.9 bp −$369	108.2 bp −$10.8K	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
BloFin WIF-USDT	−0.0185%	4h	0.2498	+0.349%	$1.0M	$834K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0093%	1h	0.2492	+0.125%	$76K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2490	+0.010%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2495	+0.243%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.775%	$11K	$10K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2489	long leg	$138K	$631K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2490	+0.028%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2491	+0.049%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2489	−0.031%	$78K	$60K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2490	+0.021%	$18.8M	$119.1M	75x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2488	−0.052%	$16.9M	$40.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2490	+0.028%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2488	−0.052%	$1.2M	$7.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2488	−0.052%	$23.0M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2489	−0.012%	$4.5M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2488	−0.052%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2489	−0.012%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2494	+0.191%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	+0.273%	$286K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	+0.229%	$46K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2497	+0.309%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2494	+0.189%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	+0.249%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2497	+0.309%	$166K	$701K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	−0.059%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2496	+0.251%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0131% / S −0.0011%	1h	0.2496	+0.263%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2497	+0.309%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2496	+0.256%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0307%	1h	0.2495	+0.213%	$8.2M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2496	+0.269%	$326K	$2.8M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2497	+0.313%	$0	—	15x	as long as short