Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Lighter−0.096%7-day average −0.213% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1711.708% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now −0.096%, 7d avg −0.213%

Together, before fees−0.013%+ Points / potential airdropLighter: Season 3 · farm board−$1 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: SunX is 0.117% dearer against Lighter than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.213%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2389	0.0096	pay 0.0012% / 1h	46m 58s	$133K	$545K	10x
Short	SunX WIF-USDT	0.2387	0.0100	get 0.0050% / 4h	1h 46m	$1K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.096%Rate

Funding earned: $0.84
Price spread: −0.096% → −0.213%: $11.67
Slippage, 4 orders: −$162.77
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$158.26
Costs to cover: 1.708%
Break-even: 1325.9 days

Slippage from Lighter: live order book, 28 min ago; SunX: 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, 28 min ago	3.58 bp	9.1 bp −$9	50.7 bp −$507	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	33.66 bp	62.8 bp −$63	doesn't fit	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
Backpack WIF_USDC_PERP	−0.0214%	1h	0.2386	−0.134%	$75K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0168%	1h	0.2389	−0.013%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0108%	4h	0.2388	−0.054%	$4.3M	$11.3M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2394	+0.188%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2391	+0.055%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	+0.239%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2388	−0.054%	$5K	$1.3M	10x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2389	long leg	$133K	$545K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2392	+0.113%	$53K	$483K	20x	as long as short
Aster WIFUSDT	+0.0096%	4h	0.2388	−0.046%	$25K	$255K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2391	+0.053%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2395	+0.225%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2388	−0.054%	$17.6M	$99.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2388	−0.046%	$16.6M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2389	−0.013%	$6.1M	$30.6M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2389	−0.013%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2389	−0.013%	$21.4M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2389	−0.013%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2390	+0.029%	—	$65.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2388	−0.042%	$68K	$65K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2388	−0.068%	$266K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2389	−0.013%	$42K	$618K	25x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2387	−0.096%	$1K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2388	−0.054%	$548	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2393	+0.155%	$166K	$714K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2388	−0.048%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2388	−0.054%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0189% / S −0.1022%	1h	0.2390	+0.017%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2392	+0.113%	$314K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2387	−0.096%	$965K	$700K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0378%	1h	0.2390	+0.030%	$628K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2391	+0.064%	$0	—	15x	as long as short