Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter−0.355%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$660.665% of the position

Long on Lighter Short on BingX

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)+0.301%+$30 · spread now −0.355%, 7d avg −0.091%

Together, before fees+0.309%+ Points / potential airdropLighter: Season 3 · farm board+$31 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: BingX is 0.264% cheaper against Lighter than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2478	0.0096	pay 0.0012% / 1h	0m 01s	$142K	$703K	10x
Short	BingX WIF-USDC	0.2469	0.0100	get 0.0050% / 4h	1h 00m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.355%Rate

Funding earned: $0.84
Price spread: −0.355% → −0.091%: −$26.39
Slippage, 4 orders: −$56.47
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$92.02
Costs to cover: 0.665%
Break-even: 773.8 days

Slippage from Lighter: live order book, 35 min ago; BingX: live order book, 4 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	11.46 bp	15.2 bp −$15	71.5 bp −$715	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	2.01 bp	22.5 bp −$22	58.3 bp −$583	323.2 bp −$32.3K	605.9 bp −$303.0K

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	−0.0467%	1h	0.2462	−0.638%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2476	−0.073%	$989K	$936K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2478	+0.008%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2477	−0.032%	$33K	$272K	25x	as long as short
Backpack WIF_USDC_PERP	+0.0001%	1h	0.2474	−0.165%	$74K	$301K	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2477	−0.018%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0010% / S +0.0237%	1h	0.2477	−0.046%	$19K	—	100x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2478	long leg	$142K	$703K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2477	−0.032%	$52K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2475	−0.113%	$8.7M	$6.8M	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	0.2471	−0.283%	$30K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2478	−0.004%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2469	−0.355%	$18.8M	$145.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2472	−0.234%	$16.6M	$47.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2470	−0.315%	$5.5M	$41.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2474	−0.153%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2470	−0.315%	$22.1M	$12.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2472	−0.234%	$4.3M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2472	−0.234%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDCshort	+0.0100%	4h	0.2469	−0.355%	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2475	−0.110%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2482	+0.171%	$285K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	+0.896%	$46K	$635K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2476	−0.073%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2472	−0.234%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2477	−0.052%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2468	−0.396%	$154K	$947K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2470	−0.323%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2477	−0.052%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0344%	1h	0.2479	+0.042%	$642K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2478	+0.008%	$328K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2476	−0.069%	$0	—	15x	as long as short