Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.009%

Price spread now: Gate against Lighter+0.020%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

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

costs, in and out, $10k−$700.699% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.232%+$23 · spread now +0.020%, 7d avg −0.026%

Together, before fees+0.150%+ Points / potential airdropLighter: Season 3 · farm board+$15 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: Gate is 0.046% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2540	0.0096	pay 0.0012% / 1h	24m 01s	$145K	$652K	10x
Short	Gate WIF_USDT	0.2541	0.0100	get 0.0050% / 4h	3h 24m	$1.2M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.020%Rate

Funding earned: $0.84
Price spread: +0.020% → −0.026%: $4.61
Slippage, 4 orders: −$54.89
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$64.44
Costs to cover: 0.699%
Break-even: 544.0 days

Slippage from Lighter: live order book, 21 min ago; Gate: 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, 21 min ago	4.66 bp	11.2 bp −$11	71.8 bp −$718	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.90 bp	23.7 bp −$24	71.8 bp −$718	109.9 bp −$11.0K	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	−0.0190%	4h	0.2549	+0.335%	$1.1M	$907K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2544	+0.157%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2539	−0.059%	$39K	$263K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2543	+0.111%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.571%	$11K	$10K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2540	long leg	$145K	$652K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2548	+0.295%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2542	+0.073%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2546	+0.217%	$79K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2542	+0.042%	$20.3M	$128.4M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2541	+0.020%	$17.5M	$42.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2539	−0.059%	$6.1M	$38.8M	50x	as long as short
Gate WIF_USDTshort	+0.0100%	4h	0.2541	+0.020%	$1.2M	$8.3M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2539	−0.059%	$23.6M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2539	−0.059%	$4.3M	$15.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2539	−0.059%	$7.8M	$14.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2543	+0.098%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2538	−0.106%	$78K	$304K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2551	+0.414%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2568	+1.082%	$294K	$2.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2561	+0.807%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2542	+0.059%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2539	−0.059%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2540	−0.031%	$593	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2543	+0.098%	$168K	$735K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2538	−0.116%	$12K	$136K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	+0.022%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0114% / S +0.0020%	1h	0.2543	+0.097%	$9K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2543	+0.098%	$362K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0362%	1h	0.2540	−0.019%	$662K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2544	+0.139%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0584%	1h	0.2548	+0.279%	$8.5M	$5.2M	5x	as long as short