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 +0.001%

Price spread now: OKX against Lighter−0.166%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.166%, 7d avg −0.014%

Together, before fees+0.103%+ Points / potential airdropLighter: Season 3 · farm board+$10 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: OKX is 0.151% cheaper against Lighter than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2476	0.0096	pay 0.0012% / 1h	23m 29s	$143K	$702K	10x
Short	OKX WIF-USDT-SWAP	0.2472	0.0100	get 0.0050% / 4h	1h 23m	$5.5M	$41.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.166%Rate

Funding earned: $0.84
Price spread: −0.166% → −0.014%: −$15.12
Slippage, 4 orders: −$44.32
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$68.6
Costs to cover: 0.543%
Break-even: 578.7 days

Slippage from Lighter: live order book, 12 min ago; OKX: live order book, 5 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, 12 min ago	11.46 bp	15.2 bp −$15	71.5 bp −$715	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.04 bp	12.0 bp −$12	34.6 bp −$346	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	−0.569%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2478	+0.077%	$982K	$936K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0033%	1h	0.2476	−0.004%	$73K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2476	−0.022%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2473	−0.108%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0035% / S +0.0255%	1h	0.2478	+0.066%	$21K	—	100x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2476	long leg	$143K	$702K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2472	−0.166%	$53K	$571K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2478	+0.065%	$8.6M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2475	−0.046%	$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	0.2475	−0.063%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2472	−0.147%	$18.8M	$143.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2473	−0.141%	$16.7M	$47.4M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2472	−0.166%	$5.5M	$41.7M	50x
Gate WIF_USDT	+0.0100%	4h	0.2475	−0.044%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2475	−0.044%	$22.4M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2474	−0.085%	$4.1M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2473	−0.125%	$7.5M	$15.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2472	−0.166%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2473	−0.122%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2460	−0.651%	$283K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2460	−0.650%	$45K	$631K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2479	+0.117%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2474	−0.085%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2478	+0.077%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2473	−0.125%	$143K	$908K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2473	−0.109%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2479	+0.101%	$83K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0154%	1h	0.2479	+0.117%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0344%	1h	0.2479	+0.116%	$643K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2479	+0.117%	$326K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2473	−0.121%	$0	—	15x	as long as short