Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.041%

Price spread now: BloFin against Backpack0.000%54s7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.433% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 4 days (all we have)+0.201%+$20 · spread now 0.000%, 7d avg +0.064%

Together, before fees+0.534%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.064% cheaper against Backpack than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.064%). If the spread goes back, that is −$6 on $10k: about 26 hours of funding at the current rate (+$6 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05779	0.0141	pay 0.0018% / 1h	55m 17s	$240K	$26K	10x
Short	BloFin WLFI-USDT	0.05779	0.0340	get 0.0170% / 4h	1h 55m	$4.8M	$85K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. 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 BackpackbpFee BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $41.79
Price spread: 0.000% → +0.064%: −$6.44
Slippage, 4 orders: −$21.3
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$7.96
Costs to cover: 0.433%
Break-even: 8.3 days

Slippage from Backpack: live order book, 53 min ago; BloFin: live order book, 3 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 Backpack live order book, 53 min ago	0.86 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.73 bp	14.2 bp −$14	28.9 bp −$289	69.6 bp −$6,962	doesn't fit

WLFI 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
Coinbase International WLFI-PERP-INTX	−0.0312%	1h	0.05737	−0.727%	$32K	$15K	50x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05779	−0.001%	$11K	$943	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.613%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05775	−0.072%	$316	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.090%	$6K	$77K	5.5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05771	−0.138%	$1.0M	$458K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0099%	8h	0.05778	−0.017%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05776	−0.061%	$82K	$24K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05774	−0.087%	$10.5M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05776	−0.056%	$1.6M	$556K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLFI	+0.0100%	1h	0.05778	−0.010%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05781	+0.035%	$139.5M	$43.0M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05772	−0.121%	$21.0M	$19.4M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05775	−0.069%	$7.7M	$13.5M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05779	0.000%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05775	−0.069%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05782	+0.052%	$13.8M	$20.0M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05778	−0.017%	$3.3M	$1.2M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05775	−0.069%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05775	−0.069%	—	$7.3M	—	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05772	−0.113%	$451K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05780	+0.017%	$283K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05780	+0.017%	$33K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05780	+0.017%	$39K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05779	0.000%	$80	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05773	−0.105%	$176K	$735K	10x	as long as short
Backpack WLFI_USDC_PERPlong	+0.0141%	1h	0.05779	long leg	$240K	$26K	10x
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05774	−0.083%	$7K	—	100x	as long as short
01 Exchange WLFIUSD	+0.0304%	1h	0.05780	+0.017%	$4K	$319	3x	as long as short
Kraken Futures PF_WLFIUSD	+0.0306%	1h	0.05781	+0.039%	$97K	$90K	20x	as long as short
BloFin WLFI-USDTshort	+0.0340%	4h	0.05779	0.000%	$4.8M	$85K	75x
Deribit WLFI_USDC-PERPETUAL	+0.0443%	1h	0.05780	+0.017%	$525	$11K	10x	as long as short