Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0001%/8h= −0.2% APRpaid last 24h −0.006%

Price spread now: Paradex against Backpack−0.121%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.121% cheaper against Backpack than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05770	0.0100	pay 0.0013% / 1h	27m 25s	$240K	$26K	10x
Short	Paradex WLFI-USD-PERP	0.05763	0.0099	get 0.0099% / 8h	2h 27m	$2K	$118	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$0.3
Price spread: −0.121% → 0.000%: −$12.08
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$26.38
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 21 min ago; Paradex: no order-book sample. 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 Backpack live order book, 21 min ago	0.86 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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.

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	−0.0144%	1h	0.05737	−0.572%	$32K	$15K	50x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.779%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05763	−0.114%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.936%	$6K	$77K	5.5x	as long as short
dYdX WLFI-USD	+0.0041%	1h	0.05769	−0.024%	$11K	$943	5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05761	−0.156%	$1.0M	$456K	5x	as long as short
Paradex WLFI-USD-PERPshort	+0.0099%	8h	0.05763	−0.121%	$2K	$118	5x
Nado WLFI-PERP	+0.0100%	1h	0.05764	−0.095%	$82K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05764	−0.101%	$10.5M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05765	−0.081%	$1.6M	$587K	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	0.05764	−0.107%	$246K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05766	−0.078%	$139.1M	$42.8M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05761	−0.156%	$21.1M	$19.4M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05761	−0.156%	$7.7M	$13.5M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05767	−0.047%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05764	−0.104%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05769	−0.017%	$13.8M	$20.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05769	−0.017%	$3.3M	$1.2M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05763	−0.121%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05770	0.000%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05770	long leg	$240K	$26K	10x
Variational Omni WLFI	+0.0100%	4h	0.05769	−0.024%	$450K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05780	+0.173%	$274K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05770	0.000%	$33K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05780	+0.173%	$39K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05771	+0.017%	$85	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05763	−0.123%	$144K	$706K	10x	as long as short
01 Exchange WLFIUSD	+0.0184%	1h	0.05770	0.000%	$4K	$319	3x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0270%	1h	0.05773	+0.052%	$524	$11K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05766	−0.075%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05781	+0.191%	$4.8M	$87K	75x	as long as short
Kraken Futures PF_WLFIUSD	+0.0380%	1h	0.05773	+0.054%	$97K	$90K	20x	as long as short