Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h +0.004%

Price spread now: MEXC against Backpack−0.086%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now −0.086%, 7d avg +0.063%

Together, before fees+0.451%+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and MEXC is 0.149% cheaper against Backpack than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.063%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.238%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05801	0.0314	pay 0.0039% / 1h	55m 37s	$233K	$34K	10x
Short	MEXC WLFI_USDT	0.05796	0.0100	get 0.0050% / 4h	1h 55m	$12.8M	$20.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$44.87
Price spread: −0.086% → +0.063%: −$14.92
Slippage, 4 orders: −$15.56
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$85.36
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Backpack: live order book, 55 min ago; MEXC: live order book, 1 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, 55 min ago	0.88 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.86 bp	0.9 bp −$1	5.1 bp −$51	49.4 bp −$4,939	113.7 bp −$56.9K

WLFI on 32 exchanges

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	−0.0384%	1h	0.05732	−1.189%	$21K	$15K	50x	as long as short
dYdX WLFI-USD	−0.0259%	1h	0.05801	+0.006%	$6K	$10K	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.215%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05806	+0.086%	$527	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05803	+0.035%	$317	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.465%	$6K	$77K	5.5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05795	−0.103%	$1.1M	$450K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0099%	8h	0.05796	−0.079%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05812	+0.192%	$90K	$27K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05796	−0.083%	$10.6M	$939K	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLFIUSDT	+0.0100%	4h	0.05799	−0.033%	$1.6M	$549K	20x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05800	−0.017%	$248K	$15K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05799	−0.032%	$139.8M	$43.0M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05798	−0.052%	$21.6M	$19.5M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05799	−0.034%	$7.7M	$13.7M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05804	+0.048%	$7K	$10K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05803	+0.034%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDTshort	+0.0100%	4h	0.05796	−0.086%	$12.8M	$20.1M	100x
KuCoin WLFIUSDTM	+0.0100%	4h	0.05802	+0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05804	+0.052%	$8.0M	$3.6M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05804	+0.052%	—	$7.5M	—	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05812	+0.190%	$453K	$33K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05804	+0.049%	$290K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05800	−0.017%	$34K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05810	+0.155%	$39K	$1.6M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05800	−0.017%	$100	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05798	−0.059%	$175K	$1.0M	10x	as long as short
01 Exchange WLFIUSD	+0.0192%	1h	0.05800	−0.017%	$4K	$335	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05804	+0.043%	$7K	—	100x	as long as short
Backpack WLFI_USDC_PERPlong	+0.0314%	1h	0.05801	long leg	$233K	$34K	10x
BloFin WLFI-USDT	+0.0340%	4h	0.05808	+0.121%	$4.9M	$95K	75x	as long as short
Kraken Futures PF_WLFIUSD	+0.0486%	1h	0.05810	+0.158%	$97K	$130K	20x	as long as short