Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.012%

Price spread now: BloFin against Backpack−0.017%7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.314%+$31 on $10k

Price spread, last 3 days (all we have)+0.218%+$22 · spread now −0.017%, 7d avg +0.067%

Together, before fees+0.532%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.084% cheaper against Backpack than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.067%). If the spread goes back, that is −$8 on $10k: about 28 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05724	0.0100	pay 0.0013% / 1h	55m 02s	$238K	$28K	10x
Short	BloFin WLFI-USDT	0.05723	0.0340	get 0.0170% / 4h	3h 55m	$4.7M	$77K	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 −0.017%Rate

Funding earned: $50.4
Price spread: −0.017% → +0.067%: −$8.42
Slippage, 4 orders: −$31.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.7
Costs to cover: 0.537%
Break-even: 8.6 days

Slippage from Backpack: live order book, 18 min ago; BloFin: live order book, 4 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, 18 min ago	0.87 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	2.62 bp	20.6 bp −$21	35.5 bp −$355	doesn't fit	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
Lighter WLFI	−0.0240%	1h	0.05718	−0.105%	$967K	$380K	5x	as long as short
Kraken Futures PF_WLFIUSD	−0.0110%	1h	0.05726	+0.029%	$73K	$50K	20x	as long as short
Aster WLFIUSDT	−0.0042%	4h	0.05723	−0.017%	$1.6M	$587K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05725	+0.009%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.613%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05725	+0.017%	$520	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05722	−0.039%	$313	—	150x	as long as short
01 Exchange WLFIUSD	+0.0024%	1h	0.05724	0.000%	$4K	$319	3x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.140%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0079%	8h	0.05722	−0.032%	$2K	$108	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WLFI-PERP	+0.0100%	1h	0.05722	−0.026%	$79K	$26K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05721	−0.045%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05720	−0.068%	$245K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05726	+0.028%	$137.1M	$40.2M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05719	−0.087%	$20.8M	$17.8M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05723	−0.017%	$7.5M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05726	+0.033%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05722	−0.035%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05722	−0.035%	$14.5M	$21.3M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05723	−0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05723	−0.017%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05723	−0.017%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05724	long leg	$238K	$28K	10x
Variational Omni WLFI	+0.0100%	4h	0.05718	−0.110%	$443K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05728	+0.077%	$276K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	−0.070%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05730	+0.105%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05725	+0.017%	$106	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05721	−0.045%	$133K	$488K	10x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	+0.227%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05723	−0.014%	$3K	—	100x	as long as short
BloFin WLFI-USDTshort	+0.0340%	4h	0.05723	−0.017%	$4.7M	$77K	75x