Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Backpack against Reya−4.327%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Backpack

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

Funding pays, the price is against you. Backpack is 4.327% cheaper against Reya than usual: you would sell low and buy high (spread −4.327% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$433 on $10k: about 5 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLFIRUSDPERP	0.06046	0	get 0.0000% / 1h	42m 36s	—	—	—
Short	Backpack WLFI_USDC_PERP	0.05784	0.0100	get 0.0013% / 1h	42m 36s	$235K	$29K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpFee BackpackbpOrdersPrice spread, now −4.327%Rate

Funding earned: $21
Price spread: −4.327% → 0.000%: −$432.7
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$427.7
Costs to cover: 0.160%
Break-even: 149.6 days

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 56 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 56 min ago	0.87 bp	11.2 bp −$11	doesn't fit	doesn't fit	doesn't fit

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	−0.0536%	1h	0.05732	−5.187%	$21K	$27K	50x	as long as short
01 Exchange WLFIUSD	−0.0288%	1h	0.05782	−4.360%	$4K	$319	3x	as long as short
Reya WLFIRUSDPERPlong	0.0000%	1h	0.06046	long leg	—	—	—
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05781	−4.382%	$316	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−5.452%	$6K	$77K	5.5x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0096%	1h	0.05784	−4.327%	$525	$11K	10x	as long as short
Lighter WLFI	+0.0096%	1h	0.05777	−4.443%	$1.1M	$470K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0100%	8h	0.05780	−4.395%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05779	−4.410%	$82K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05780	−4.393%	$10.6M	$1.3M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLFIUSDT	+0.0100%	4h	0.05782	−4.356%	$1.6M	$529K	20x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05781	−4.372%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05786	−4.302%	$139.8M	$42.9M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05777	−4.443%	$21.1M	$19.1M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05779	−4.410%	$7.7M	$13.5M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05783	−4.343%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05781	−4.377%	$3.5M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05785	−4.310%	$13.6M	$19.9M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05785	−4.310%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05779	−4.410%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05781	−4.377%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05784	−4.327%	$235K	$29K	10x
Variational Omni WLFI	+0.0100%	4h	0.05778	−4.434%	$451K	$39K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05786	−4.295%	$284K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05780	−4.393%	$34K	$37K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05790	−4.228%	$39K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05784	−4.327%	$111	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05778	−4.434%	$177K	$1.0M	10x	as long as short
dYdX WLFI-USD	+0.0178%	1h	0.05779	−4.409%	$11K	$943	5x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05782	−4.355%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05788	−4.261%	$4.9M	$102K	75x	as long as short
Kraken Futures PF_WLFIUSD	+0.2343%	1h	0.05785	−4.315%	$97K	$90K	20x	as long as short