Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.039%

Price spread now: Lighter against MEXC−0.104%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.175% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.104%, 7d avg −0.078%

Together, before fees−0.115%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.026% cheaper against MEXC than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.078%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WLFI_USDT	0.05745	0.0100	pay 0.0050% / 4h	38m 50s	$15.1M	$21.2M	100x
Short	Lighter WLFI	0.05739	0.0080	get 0.0010% / 1h	38m 50s	$963K	$387K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$4.2
Price spread: −0.104% → −0.078%: −$2.6
Slippage, 4 orders: −$17.53
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$24.33
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Lighter: live order book, 37 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 MEXC live order book, 5 min ago	0.87 bp	0.9 bp −$1	5.3 bp −$53	57.0 bp −$5,702	107.8 bp −$53.9K
Sell Lighter live order book, 37 min ago	5.24 bp	5.2 bp −$5	23.1 bp −$231	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
Kraken Futures PF_WLFIUSD	−0.0434%	1h	0.05744	−0.009%	$73K	$59K	20x	as long as short
Aster WLFIUSDT	−0.0125%	4h	0.05746	+0.022%	$1.6M	$581K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05747	+0.035%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.228%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05745	0.000%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.505%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0067%	8h	0.05745	−0.001%	$2K	$108	5x	as long as short
Lighter WLFIshort	+0.0080%	1h	0.05739	−0.104%	$963K	$387K	5x
OKX WLFI-USDT-SWAP	+0.0082%	4h	0.05737	−0.139%	$7.5M	$12.7M	50x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0098%	1h	0.05747	+0.035%	$522	$11K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFI	+0.0100%	1h	0.05741	−0.070%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05743	−0.038%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05744	−0.011%	$137.6M	$39.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05737	−0.139%	$21.0M	$17.4M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05749	+0.077%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05741	−0.070%	$3.4M	$2.8M	75x	as long as short
MEXC WLFI_USDTlong	+0.0100%	4h	0.05745	long leg	$15.1M	$21.2M	100x
KuCoin WLFIUSDTM	+0.0100%	4h	0.05744	−0.017%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05743	−0.035%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05743	−0.035%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05744	−0.017%	$239K	$29K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05742	−0.056%	$445K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05750	+0.087%	$275K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05750	+0.087%	$33K	$42K	50x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05740	−0.078%	$79K	$27K	5x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05750	+0.087%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05746	+0.017%	$114	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05739	−0.113%	$133K	$490K	10x	as long as short
01 Exchange WLFIUSD	+0.0136%	1h	0.05746	+0.017%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05744	−0.023%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05744	−0.017%	$4.7M	$72K	75x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0368%	1h	0.05737	−0.139%	$32K	$16K	50x	as long as short