Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.011%

Price spread now: Orderly against Lighter−0.339%7-day average −0.055% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.457%+$46 · spread now −0.339%, 7d avg −0.055%

Together, before fees+0.377%+ Points / potential airdropLighter: Season 3 · farm board+$38 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: Orderly is 0.285% cheaper against Lighter than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2535	0.0096	pay 0.0012% / 1h	21m 45s	$145K	$652K	10x
Short	Orderly PERP_WIF_USDC	0.2526	0.0100	get 0.0050% / 4h	3h 21m	$5K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.339%Rate

Funding earned: $0.84
Price spread: −0.339% → −0.055%: −$28.47
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$33.63
Costs to cover: 0.060%
Break-even: 287.2 days

Slippage unknown: Lighter: live order book, 24 min ago; Orderly: no order-book sample. Net counts fees only.

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, 24 min ago	4.66 bp	11.2 bp −$11	71.8 bp −$718	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin WIF-USDT	−0.0195%	4h	0.2530	−0.181%	$1.1M	$901K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2538	+0.117%	$14K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2526	−0.326%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+0.805%	$11K	$10K	12x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2535	long leg	$145K	$652K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2521	−0.537%	$52K	$563K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2535	+0.025%	$44K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2537	+0.079%	$78K	$65K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2537	+0.096%	$20.2M	$129.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2542	+0.276%	$17.5M	$42.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2538	+0.134%	$6.1M	$39.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2539	+0.174%	$1.2M	$8.3M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2541	+0.253%	$23.6M	$11.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2534	−0.024%	$4.3M	$15.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2541	+0.253%	$7.8M	$14.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2537	+0.095%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2525	−0.391%	$77K	$305K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2551	+0.648%	$87K	$145K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2546	+0.440%	$292K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2561	+1.042%	$47K	$626K	25x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2526	−0.339%	$5K	$1.2M	10x
SunX WIF-USDT	+0.0100%	4h	0.2523	−0.458%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2526	−0.320%	$590	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2522	−0.497%	$167K	$735K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2539	+0.185%	$12K	$124K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2525	−0.392%	$84K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0113% / S +0.0020%	1h	0.2525	−0.368%	$9K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0146%	1h	0.2526	−0.339%	$39K	$263K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2528	−0.260%	$348K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0364%	1h	0.2527	−0.304%	$658K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2524	−0.415%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0595%	1h	0.2538	+0.126%	$8.5M	$5.2M	5x	as long as short