Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Popdex against Lighter−0.053%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1441.444% of the position

Long on Lighter Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.053%, 7d avg −0.006%

Together, before fees+0.121%+ Points / potential airdropLighter: Season 3 · farm board+$12 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: Popdex is 0.047% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2445	0.0096	pay 0.0012% / 1h	4m 12s	$142K	$679K	10x
Short	Popdex WIFUSDT	0.2444	0.0096	get 0.0012% / 1h	4m 12s	$52K	$570K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → −0.006%: −$4.68
Slippage, 4 orders: −$137.96
Fee Lighter: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$149.04
Costs to cover: 1.444%
Break-even: 306247808653059136.0 days

Slippage from Lighter: live order book, 36 min ago; Popdex: live order book, 45 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, 36 min ago	3.97 bp	6.8 bp −$7	54.9 bp −$549	doesn't fit	doesn't fit
Sell Popdex live order book, 45 min ago	4.08 bp	51.4 bp −$51	doesn't fit	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
BloFin WIF-USDT	−0.0140%	4h	0.2442	−0.135%	$963K	$921K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2440	−0.217%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2446	+0.036%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0034%	1h	0.2439	−0.254%	$73K	$319K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0079% / S +0.0250%	1h	0.2446	+0.025%	$21K	—	100x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2445	long leg	$142K	$679K	10x
Popdex WIFUSDTshort	+0.0096%	1h	0.2444	−0.053%	$52K	$570K	20x
Hyperliquid WIF	+0.0100%	1h	0.2446	+0.020%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2443	−0.079%	$29K	$340K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2440	−0.204%	$77K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2443	−0.094%	$18.5M	$141.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2443	−0.094%	$16.5M	$46.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2442	−0.135%	$5.5M	$40.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2443	−0.094%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2443	−0.094%	$22.0M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2443	−0.094%	$4.1M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2443	−0.094%	$7.4M	$15.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2443	−0.094%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	−0.030%	$73K	$190K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2446	+0.029%	$271K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2451	+0.233%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2444	−0.053%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2439	−0.258%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2443	−0.094%	$564	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2441	−0.176%	$149K	$867K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2442	−0.143%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2444	−0.070%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0159%	1h	0.2444	−0.053%	$32K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0244%	1h	0.2446	+0.012%	$632K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2447	+0.070%	$327K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2442	−0.132%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−1.812%	$10K	$10K	12x	as long as short