Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.042%

Price spread now: Lighter against BingX−0.105%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.105%, 7d avg −0.037%

Together, before fees−0.059%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.067% cheaper against BingX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WLFI-USDT	0.05733	0.0100	pay 0.0050% / 4h	1h 28m	—	$7.3M	—
Short	Lighter WLFI	0.05727	−0.0048	pay 0.0006% / 1h	28m 34s	$1.0M	$431K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$31.08
Price spread: −0.105% → −0.037%: −$6.74
Slippage, 4 orders: −$37.62
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$85.43
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Lighter: live order book, 2 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 BingX live order book, 9 min ago	6.10 bp	17.4 bp −$17	27.1 bp −$271	83.3 bp −$8,333	489.3 bp −$244.6K
Sell Lighter live order book, 2 min ago	6.11 bp	8.3 bp −$8	17.5 bp −$175	doesn't fit	doesn't fit

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	−0.0200%	1h	0.05737	+0.070%	$32K	$15K	50x	as long as short
Kraken Futures PF_WLFIUSD	−0.0154%	1h	0.05738	+0.079%	$99K	$88K	20x	as long as short
Lighter WLFIshort	−0.0048%	1h	0.05727	−0.105%	$1.0M	$431K	5x
Aster WLFIUSDT	−0.0017%	4h	0.05736	+0.060%	$1.6M	$584K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05733	−0.003%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.450%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05734	+0.024%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.297%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0078%	8h	0.05729	−0.063%	$2K	$118	5x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0099%	1h	0.05737	+0.070%	$521	$11K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WLFI-PERP	+0.0100%	1h	0.05732	−0.017%	$82K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05734	+0.021%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05729	−0.072%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05739	+0.105%	$138.1M	$40.6M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05733	0.000%	$20.9M	$18.4M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05732	−0.017%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05736	+0.044%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05732	−0.017%	$3.4M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05739	+0.105%	$13.8M	$21.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05736	+0.052%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05731	−0.035%	$8.0M	$3.3M	75x	as long as short
BingX WLFI-USDTlong	+0.0100%	4h	0.05733	long leg	—	$7.3M	—
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05730	−0.052%	$238K	$27K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05731	−0.029%	$447K	$41K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05740	+0.122%	$280K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	+0.122%	$33K	$39K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05740	+0.122%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05734	+0.017%	$116	$6K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05725	−0.141%	$133K	$488K	10x	as long as short
01 Exchange WLFIUSD	+0.0104%	1h	0.05738	+0.087%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05733	+0.003%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05738	+0.087%	$4.8M	$81K	75x	as long as short