WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.113%

Price spread now: Deribit against Lighter−0.081%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.722%−$72 on $10k

Price spread, last 3 days (all we have)+0.142%+$14 · spread now −0.081%, 7d avg −0.032%

Together, before fees−0.580%+ Points / potential airdropLighter: Season 3 · farm board−$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.049% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2470	0.0096	pay 0.0012% / 1h	53m 03s	$139K	$627K	10x
Short	Deribit WIF_USDC-PERPETUAL	0.2468	0	get 0.0000% / 1h	53m 03s	$46K	$261K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$20.16
Price spread: −0.081% → −0.032%: −$4.89
Slippage, 4 orders: −$39.84
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$71.89
Costs to cover: 0.468%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Deribit: live order book, 10 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 Lighter live order book, 2 min ago	5.05 bp	15.3 bp −$15	76.3 bp −$763	doesn't fit	doesn't fit
Sell Deribit live order book, 10 min ago	2.02 bp	5.5 bp −$6	20.1 bp −$201	doesn't fit	doesn't fit

WIF on 31 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
Backpack WIF_USDC_PERP	−0.0356%	1h	0.2464	−0.235%	$78K	$274K	10x	as long as short
ApeX Omni WIFUSDT	−0.0291%	1h	0.2459	−0.445%	$42K	$629K	25x	as long as short
Gate WIF_USDT	−0.0002%	4h	0.2465	−0.202%	$1.3M	$7.5M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2458	−0.506%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALshort	0.0000%	1h	0.2468	−0.081%	$46K	$261K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2466	−0.146%	$797	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	0.000%	$11K	$10K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2470	long leg	$139K	$627K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2461	−0.364%	$56K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2468	−0.081%	$5K	$1.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2468	−0.081%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2458	−0.491%	$76K	$55K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2469	−0.026%	$18.9M	$113.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2467	−0.121%	$17.0M	$38.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2469	−0.040%	$5.9M	$34.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2466	−0.162%	$21.9M	$10.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2468	−0.081%	$4.5M	$13.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2469	−0.040%	$7.5M	$12.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2463	−0.283%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2487	+0.692%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2468	−0.081%	$277K	$2.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2464	−0.243%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2468	−0.081%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2463	−0.283%	$166K	$688K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2467	−0.106%	$8K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2468	−0.093%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2469	−0.021%	$646K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0162% / S −0.0031%	1h	0.2466	−0.162%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0258%	1h	0.2471	+0.049%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2463	−0.283%	$361K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2462	−0.310%	$0	—	15x	as long as short