Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Lighter against Binance+0.065%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.065%, 7d avg +0.037%

Together, before fees+0.064%+ Points / potential airdropLighter: Season 3 · farm board+$6 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 0.027% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2380	0.0100	pay 0.0050% / 4h	2h 29m	$18.4M	$138.5M	75x
Short	Lighter WIF	0.2381	0.0096	get 0.0012% / 1h	29m 44s	$144K	$668K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$0.84
Price spread: +0.065% → +0.037%: $2.73
Slippage, 4 orders: −$34.42
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$42.53
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Lighter: live order book, 11 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 Binance live order book, 13 min ago	2.08 bp	9.5 bp −$10	22.1 bp −$221	78.2 bp −$7,825	doesn't fit
Sell Lighter live order book, 11 min ago	3.97 bp	15.5 bp −$15	60.4 bp −$604	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	0.2384	+0.174%	$994K	$888K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2379	−0.053%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2382	+0.090%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2382	+0.108%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0007%	1h	0.2381	+0.065%	$73K	$317K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0092% / S +0.0033%	1h	0.2382	+0.092%	$8K	—	100x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2381	+0.065%	$144K	$668K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2384	+0.174%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2383	+0.149%	$8.4M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2380	+0.022%	$29K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2380	−0.002%	$75K	$69K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2380	long leg	$18.4M	$138.5M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2380	+0.006%	$16.2M	$45.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2380	+0.006%	$5.4M	$39.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2382	+0.090%	$1.1M	$8.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2379	−0.036%	$21.4M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2379	−0.036%	$3.9M	$15.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2380	+0.006%	$7.2M	$15.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2382	+0.090%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2382	+0.095%	$87K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2386	+0.261%	$264K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2384	+0.174%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2382	+0.090%	$4K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2380	+0.006%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2382	+0.077%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2380	+0.006%	$154K	$828K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2382	+0.105%	$8K	$161K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2382	+0.088%	$79K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0251%	1h	0.2383	+0.124%	$618K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2386	+0.258%	$320K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2383	+0.138%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2398	+0.762%	$10K	$10K	12x	as long as short