Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.010%

Price spread now: Gate against Lighter−0.034%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$610.608% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.316%+$32 · spread now −0.034%, 7d avg −0.028%

Together, before fees+0.219%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2369	0.0096	pay 0.0012% / 1h	8m 03s	$131K	$540K	10x
Short	Gate WIF_USDT	0.2368	0.0066	get 0.0033% / 4h	2h 08m	$1.2M	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.034%Rate

Funding earned: −$6.3
Price spread: −0.034% → −0.028%: −$0.62
Slippage, 4 orders: −$45.84
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$67.77
Costs to cover: 0.608%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Gate: live order book, just now.

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, 7 min ago	3.58 bp	9.1 bp −$9	50.7 bp −$507	doesn't fit	doesn't fit
Sell Gate live order book, just now	4.22 bp	26.1 bp −$26	137.5 bp −$1,375	269.2 bp −$26.9K	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
Backpack WIF_USDC_PERP	−0.0641%	1h	0.2367	−0.076%	$73K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0594%	1h	0.2368	−0.034%	$46K	$289K	25x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.106%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0188%	4h	0.2367	−0.076%	$4.1M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2370	+0.046%	$627K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2370	+0.047%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2369	+0.024%	$14K	—	150x	as long as short
Variational Omni WIF	+0.0003%	4h	0.2365	−0.142%	$67K	$65K	—	as long as short
Aster WIFUSDT	+0.0049%	4h	0.2368	−0.024%	$23K	$254K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0054%	4h	0.2368	−0.034%	$272K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WIF_USDTshort	+0.0066%	4h	0.2368	−0.034%	$1.2M	$6.9M	50x
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2368	−0.034%	$4K	$1.3M	10x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2369	long leg	$131K	$540K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2368	−0.034%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2371	+0.106%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2369	+0.012%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2368	−0.034%	$17.5M	$99.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2367	−0.063%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2368	−0.034%	$6.0M	$30.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2368	−0.034%	$21.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2369	+0.008%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2368	−0.034%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2365	−0.160%	$42K	$616K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2363	−0.245%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2368	−0.042%	$541	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2367	−0.076%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2367	−0.068%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2367	−0.055%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0163% / S −0.0842%	1h	0.2369	−0.001%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2380	+0.473%	$312K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2369	+0.008%	$970K	$682K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2368	−0.048%	$0	—	15x	as long as short