Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.012%

Price spread now: Lighter against Orderly−0.308%7-day average +0.049% · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now −0.308%, 7d avg +0.049%

Together, before fees+0.361%+ Points / potential airdropLighter: Season 3 · farm board+$36 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: Lighter is 0.357% cheaper against Orderly than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2497	0.0100	pay 0.0050% / 4h	15m 48s	$5K	$1.3M	10x
Short	Lighter WIF	0.2489	0.0096	get 0.0012% / 1h	15m 48s	$138K	$631K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now −0.308%Rate

Funding earned: −$0.84
Price spread: −0.308% → +0.049%: −$35.75
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$42.59
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 35 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 35 min ago	3.22 bp	10.8 bp −$11	59.4 bp −$594	doesn't fit	doesn't fit

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	−0.0185%	4h	0.2498	+0.040%	$1.0M	$834K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0093%	1h	0.2492	−0.184%	$76K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2490	−0.298%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2495	−0.066%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.081%	$11K	$10K	12x	as long as short
Lighter WIFshort	+0.0096%	1h	0.2489	−0.308%	$138K	$631K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2499	+0.080%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2490	−0.264%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2489	−0.340%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2488	−0.360%	$18.8M	$119.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2486	−0.437%	$16.9M	$40.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2488	−0.360%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2490	−0.280%	$1.2M	$7.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2489	−0.320%	$23.0M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2489	−0.320%	$4.5M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2488	−0.360%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2491	−0.240%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2494	−0.118%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2480	−0.681%	$276K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2483	−0.561%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2497	long leg	$5K	$1.3M	10x
SunX WIF-USDT	+0.0100%	4h	0.2494	−0.120%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2495	−0.060%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2497	0.000%	$166K	$701K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2488	−0.367%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2496	−0.058%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0131% / S −0.0011%	1h	0.2496	−0.046%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2497	0.000%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2496	−0.053%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0307%	1h	0.2495	−0.096%	$8.2M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2496	−0.040%	$326K	$2.8M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2497	+0.004%	$0	—	15x	as long as short