Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against BingX+0.062%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.537%−$54 · spread now +0.062%, 7d avg +0.008%

Together, before fees−0.545%+ Points / potential airdropLighter: Season 3 · farm board−$55 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 0.054% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDT	0.2574	0.0100	pay 0.0050% / 4h	1h 08m	—	$27.7M	—
Short	Lighter WIF	0.2576	0.0096	get 0.0012% / 1h	8m 30s	$144K	$923K	10x

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 +0.062%Rate

Funding earned: −$0.84
Price spread: +0.062% → +0.008%: $5.37
Slippage, 4 orders: −$32.88
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$38.35
Costs to cover: 0.429%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Lighter: live order book, 35 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, 8 min ago	1.93 bp	9.6 bp −$10	18.8 bp −$188	135.8 bp −$13.6K	608.5 bp −$304.2K
Sell Lighter live order book, 35 min ago	5.09 bp	12.7 bp −$13	48.3 bp −$483	doesn't fit	doesn't fit

WIF on 32 exchanges

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	−0.0389%	1h	0.2559	−0.583%	$10K	$28K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2569	−0.194%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0120% / S +0.0182%	1h	0.2570	−0.164%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2573	−0.027%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2570	−0.155%	$34K	$252K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2567	−0.267%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0018%	1h	0.2570	−0.163%	$90K	$381K	10x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2576	+0.062%	$144K	$923K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2576	+0.078%	$53K	$629K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0098%	4h	0.2569	−0.194%	$5K	$906K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2573	−0.043%	$10.1M	$9.6M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2575	+0.046%	$31K	$427K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2574	+0.006%	$80K	$99K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2576	+0.081%	$21.1M	$177.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2576	+0.070%	$17.7M	$60.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2577	+0.117%	$6.3M	$53.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2573	−0.039%	$1.2M	$13.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2574	0.000%	$22.7M	$15.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2571	−0.117%	$3.8M	$18.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2573	−0.039%	$7.8M	$19.8M	50x	as long as short
BingX WIF-USDTlong	+0.0100%	4h	0.2574	long leg	—	$27.7M	—
Variational Omni WIF	+0.0100%	4h	0.2565	−0.336%	$77K	$367K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2569	−0.213%	$284K	$3.4M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2582	+0.311%	$37K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2566	−0.311%	$1K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2571	−0.136%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2566	−0.311%	$160K	$1.1M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2573	−0.052%	$12K	$264K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2569	−0.176%	$86K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2576	+0.078%	$354K	$4.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2570	−0.144%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0558%	1h	0.2571	−0.102%	$654K	$3.1M	50x	as long as short