Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0004%/8hpaid last 24h +0.001%

Price spread now: HTX against Lighter−0.165%7-day average +0.547% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1151.149% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 3 days (all we have)+0.610%+$61 · spread now −0.165%, 7d avg +0.547%

Together, before fees+0.799%+ Points / potential airdropLighter: Season 3 · farm board+$80 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: HTX is 0.712% cheaper against Lighter than usual: you would sell low and buy high, −$71 on $10k if it goes back to its 7-day average of +0.547%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2362	0.0096	pay 0.0012% / 1h	23m 08s	$139K	$518K	10x
Short	HTX WIF-USDT	0.2358	0.0100	get 0.0050% / 4h	23m 08s	$164K	$704K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.165%Rate

Funding earned: $0.84
Price spread: −0.165% → +0.547%: −$71.18
Slippage, 4 orders: −$102.86
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$185.19
Costs to cover: 1.149%
Break-even: 1550.3 days

Slippage from Lighter: live order book, 5 min ago; HTX: live order book, 9 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, 5 min ago	2.54 bp	10.1 bp −$10	72.9 bp −$729	doesn't fit	doesn't fit
Sell HTX live order book, 9 min ago	10.58 bp	60.5 bp −$61	440.8 bp −$4,408	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	−0.0650%	1h	0.2445	+3.518%	$11K	$30K	12x	as long as short
Backpack WIF_USDC_PERP	−0.0562%	1h	0.2359	−0.114%	$70K	$234K	10x	as long as short
Variational Omni WIF	−0.0178%	4h	0.2354	−0.314%	$67K	$50K	—	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0173%	1h	0.2361	−0.038%	$45K	$290K	25x	as long as short
Gate WIF_USDT	−0.0010%	4h	0.2361	−0.038%	$1.2M	$6.8M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2363	+0.048%	$18K	$582	10x	as long as short
Bybit WIFUSDT	0.0000%	4h	0.2360	−0.064%	$16.6M	$33.8M	50x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2362	−0.001%	$14K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0016%	4h	0.2360	−0.080%	$4.2M	$10.7M	75x	as long as short
Aster WIFUSDT	+0.0023%	4h	0.2361	−0.037%	$25K	$241K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX WIF/USD [WBTC.b-USDC]	L +0.0043% / S +0.0009%	1h	0.2361	−0.019%	$4K	—	100x	as long as short
ApeX Omni WIFUSDT	+0.0085%	1h	0.2366	+0.174%	$40K	$611K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2361	−0.038%	$4K	$1.3M	10x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2362	long leg	$139K	$518K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2360	−0.080%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2364	+0.076%	$7.0M	$3.5M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2362	−0.006%	$74K	$45K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2359	−0.108%	$17.8M	$96.3M	75x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2360	−0.080%	$6.2M	$29.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2360	−0.080%	$21.3M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2362	+0.004%	$7.2M	$11.2M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2362	+0.004%	—	$64.4M	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2371	+0.380%	$265K	$1.5M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2357	−0.207%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2359	−0.102%	$529	$5K	5x	as long as short
HTX WIF-USDTshort	+0.0100%	4h	0.2358	−0.165%	$164K	$704K	75x
Extended WIF-USD	+0.0104%	1h	0.2360	−0.066%	$9K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2360	−0.080%	$79K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0296%	1h	0.2367	+0.216%	$323K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2359	−0.123%	$1.0M	$687K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0355%	1h	0.2363	+0.034%	$638K	$2.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2359	−0.102%	$0	—	15x	as long as short