Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0274%/8h= +30.0% APRpaid last 24h +0.010%

Price spread now: Lighter against Gate+0.133%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.133%, 7d avg +0.026%

Together, before fees−0.049%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.108% dearer against Gate than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.026%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.093% in total (about 4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2478	−0.0178	get 0.0089% / 4h	2h 47m	$1.2M	$7.3M	50x
Short	Lighter WIF	0.2481	0.0096	get 0.0012% / 1h	47m 45s	$136K	$620K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.133%Rate

Funding earned: $57.54
Price spread: +0.133% → +0.026%: $10.76
Slippage, 4 orders: −$59.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.68
Costs to cover: 0.750%
Break-even: 7.8 days

Slippage from Gate: live order book, 1 min ago; Lighter: live order book, 13 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 Gate live order book, 1 min ago	4.03 bp	26.0 bp −$26	48.0 bp −$480	75.4 bp −$7,539	doesn't fit
Sell Lighter live order book, 13 min ago	6.36 bp	10.0 bp −$10	68.1 bp −$681	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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.323%	$11K	$10K	12x	as long as short
Gate WIF_USDTlong	−0.0178%	4h	0.2478	long leg	$1.2M	$7.3M	50x
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2479	+0.023%	$646K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0036%	4h	0.2479	+0.040%	$4.5M	$12.9M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2480	+0.065%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2477	−0.040%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2476	−0.081%	$800	—	150x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2481	+0.133%	$136K	$620K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2479	+0.040%	$56K	$497K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2477	−0.040%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2482	+0.151%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	+0.179%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2480	+0.071%	$18.8M	$111.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2477	−0.032%	$17.0M	$37.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2480	+0.081%	$6.0M	$34.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2479	+0.040%	$22.4M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2481	+0.121%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2479	+0.040%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2478	0.000%	$77K	$269K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	−0.116%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2476	−0.081%	$275K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2479	+0.040%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2473	−0.202%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2478	−0.016%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2475	−0.121%	$170K	$747K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2478	−0.005%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2478	−0.015%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0179% / S −0.0043%	1h	0.2475	−0.114%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0192%	1h	0.2484	+0.238%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2484	+0.242%	$327K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2487	+0.363%	$997K	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2474	−0.177%	$0	—	15x	as long as short