Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: MEXC against Lighter0.000%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on Lighter Short on MEXC

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)+0.055%+$6 · spread now 0.000%, 7d avg −0.046%

Together, before fees+0.017%+ Points / potential airdropLighter: Season 3 · farm board+$2 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: MEXC 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 −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2431	0.0096	pay 0.0012% / 1h	39m 19s	$136K	$568K	10x
Short	MEXC WIF_USDT	0.2431	0.0100	get 0.0050% / 4h	39m 19s	$22.1M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.84
Price spread: 0.000% → −0.046%: $4.55
Slippage, 4 orders: −$27.38
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$25.99
Costs to cover: 0.314%
Break-even: 223.6 days

Slippage from Lighter: live order book, 31 min ago; MEXC: 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, 31 min ago	3.30 bp	13.2 bp −$13	56.2 bp −$562	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.05 bp	7.1 bp −$7	15.4 bp −$154	71.7 bp −$7,168	138.8 bp −$69.4K

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	−0.0391%	1h	0.2427	−0.185%	$72K	$249K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2431	−0.017%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2431	0.000%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2432	+0.024%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.481%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	+0.0046%	4h	0.2429	−0.082%	$4.3M	$11.4M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2431	0.000%	$5K	$1.3M	10x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2431	long leg	$136K	$568K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2432	+0.041%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2435	+0.156%	$7.6M	$4.0M	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	0.2432	+0.039%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2432	+0.051%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2430	−0.023%	$18.1M	$103.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2429	−0.082%	$16.7M	$35.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2428	−0.123%	$6.0M	$31.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2431	0.000%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2431	0.000%	$22.1M	$10.8M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2431	0.000%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2431	0.000%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2431	+0.008%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2435	+0.165%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2433	+0.082%	$43K	$622K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2427	−0.165%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2430	−0.037%	$556	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2428	−0.123%	$168K	$740K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2430	−0.059%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2431	0.000%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2431	−0.003%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2433	+0.082%	$322K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0321%	1h	0.2432	+0.061%	$635K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2431	0.000%	$991K	$727K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2431	+0.009%	$0	—	15x	as long as short