Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.020%

Price spread now: Lighter against KuCoin+0.126%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

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

costs, in and out, $10k−$620.624% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.126%, 7d avg +0.043%

Together, before fees+0.041%+ Points / potential airdropLighter: Season 3 · farm board+$4 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 0.084% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WIFUSDTM	0.2457	0.0100	pay 0.0050% / 4h	1h 42m	$4.1M	$16.3M	75x
Short	Lighter WIF	0.2460	0.0096	get 0.0012% / 1h	42m 03s	$142K	$701K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$0.84
Price spread: +0.126% → +0.043%: $8.36
Slippage, 4 orders: −$50.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$54.83
Costs to cover: 0.624%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Lighter: live order book, 59 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 KuCoin live order book, 7 min ago	4.08 bp	19.3 bp −$19	66.2 bp −$662	doesn't fit	doesn't fit
Sell Lighter live order book, 59 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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	+0.204%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2459	+0.081%	$980K	$928K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0023%	1h	0.2457	+0.016%	$73K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2456	−0.059%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2459	+0.062%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0054% / S +0.0251%	1h	0.2458	+0.037%	$21K	—	100x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2460	+0.126%	$142K	$701K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2459	+0.081%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2461	+0.180%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2459	+0.089%	$31K	$351K	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	0.2456	−0.054%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2460	+0.122%	$18.7M	$143.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2458	+0.053%	$16.6M	$47.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2459	+0.081%	$5.5M	$41.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2458	+0.041%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2458	+0.041%	$22.2M	$12.2M	50x	as long as short
KuCoin WIFUSDTMlong	+0.0100%	4h	0.2457	long leg	$4.1M	$16.3M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2459	+0.081%	$7.4M	$15.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2456	−0.041%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2441	−0.648%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2446	−0.448%	$272K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2453	−0.163%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2459	+0.081%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2456	−0.041%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2457	+0.020%	$564	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2453	−0.163%	$149K	$882K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2459	+0.080%	$10K	$151K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2459	+0.061%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0157%	1h	0.2460	+0.122%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0347%	1h	0.2460	+0.123%	$638K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2460	+0.122%	$325K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2459	+0.086%	$0	—	15x	as long as short