Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against Backpack+4.687%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 4.687% dearer against Backpack than usual: you sell high and buy low (spread +4.687% now, against zero (this spread has no 7-day history yet)): +$469 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05775	0.0100	pay 0.0013% / 1h	12m 05s	$234K	$30K	10x
Short	Reya WLFIRUSDPERP	0.06046	0	get 0.0000% / 1h	12m 05s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now +4.687%Rate

Funding earned: −$21
Price spread: +4.687% → 0.000%: $468.68
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $431.68
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Backpack: live order book, 26 min ago; Reya: no order-book sample. Net counts fees only.

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 Backpack live order book, 26 min ago	0.87 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

WLFI 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
Coinbase International WLFI-PERP-INTX	−0.0328%	1h	0.05732	−0.745%	$21K	$27K	50x	as long as short
Reya WLFIRUSDPERPshort	0.0000%	1h	0.06046	+4.687%	—	—	—
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05771	−0.071%	$316	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.022%	$6K	$77K	5.5x	as long as short
dYdX WLFI-USD	+0.0069%	1h	0.05765	−0.182%	$11K	$943	5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05771	−0.069%	$1.0M	$467K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0100%	8h	0.05766	−0.151%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05768	−0.125%	$81K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05772	−0.050%	$10.6M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05776	+0.025%	$1.6M	$533K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLFI	+0.0100%	1h	0.05768	−0.118%	$246K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05779	+0.069%	$139.5M	$42.9M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05775	0.000%	$21.1M	$19.3M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05772	−0.052%	$7.7M	$13.5M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05770	−0.094%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05773	−0.035%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05779	+0.069%	$13.6M	$20.0M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05773	−0.035%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05776	+0.017%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05771	−0.069%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05775	long leg	$234K	$30K	10x
Variational Omni WLFI	+0.0100%	4h	0.05758	−0.301%	$450K	$39K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05764	−0.194%	$284K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05760	−0.260%	$33K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05780	+0.087%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05773	−0.035%	$93	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05770	−0.093%	$174K	$1.0M	10x	as long as short
BloFin WLFI-USDT	+0.0112%	4h	0.05773	−0.035%	$4.8M	$91K	75x	as long as short
01 Exchange WLFIUSD	+0.0248%	1h	0.05772	−0.052%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05772	−0.055%	$7K	—	100x	as long as short
Kraken Futures PF_WLFIUSD	+0.0406%	1h	0.05788	+0.230%	$97K	$90K	20x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0616%	1h	0.05778	+0.052%	$524	$11K	10x	as long as short