Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter against Popdex+0.117%50s7-day average +0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1671.672% of the position

Long on Popdex Short on Lighter

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)−0.171%−$17 · spread now +0.117%, 7d avg +0.007%

Together, before fees−0.171%+ Points / potential airdropLighter: Season 3 · farm board−$17 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: Lighter is 0.110% dearer against Popdex than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2478	0.0096	pay 0.0012% / 1h	15m 40s	$53K	$571K	20x
Short	Lighter WIF	0.2481	0.0096	get 0.0012% / 1h	15m 40s	$143K	$702K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Popdex. 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 PopdexbpFee LighterbpOrdersPrice spread, now +0.117%Rate

Funding earned: $0
Price spread: +0.117% → +0.007%: $10.99
Slippage, 4 orders: −$160.8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$156.21
Costs to cover: 1.672%
Break-even: never at this rate

Slippage from Popdex: live order book, 28 min ago; Lighter: live order book, 20 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 Popdex live order book, 28 min ago	6.11 bp	84.9 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 20 min ago	11.46 bp	11.9 bp −$12	54.7 bp −$547	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	−0.0467%	1h	0.2462	−0.646%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2480	+0.081%	$980K	$938K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0027%	1h	0.2478	0.000%	$73K	$297K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2479	+0.040%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2479	+0.040%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2476	−0.065%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0026% / S +0.0189%	1h	0.2479	+0.046%	$16K	—	100x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2481	+0.117%	$143K	$702K	10x
Popdex WIFUSDTlong	+0.0096%	1h	0.2478	long leg	$53K	$571K	20x
Hyperliquid WIF	+0.0100%	1h	0.2482	+0.182%	$8.6M	$6.4M	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	0.2480	+0.069%	$31K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2480	+0.079%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2479	+0.055%	$18.9M	$144.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2479	+0.032%	$16.7M	$47.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2478	0.000%	$5.5M	$41.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2478	0.000%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2479	+0.040%	$22.4M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2478	0.000%	$4.5M	$16.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2480	+0.081%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2478	0.000%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2478	+0.003%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2473	−0.186%	$280K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2476	−0.081%	$45K	$633K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2479	+0.040%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2474	−0.161%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2479	+0.036%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2476	−0.081%	$147K	$921K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2477	−0.049%	$10K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2479	+0.027%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0344%	1h	0.2481	+0.123%	$643K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2481	+0.121%	$327K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2476	−0.076%	$0	—	15x	as long as short