Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h —

Price spread now: Lighter against Reya−4.308%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 4.308% cheaper against Reya than usual: you would sell low and buy high (spread −4.308% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$431 on $10k: about 5 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLFIRUSDPERP	0.06045	0	get 0.0000% / 1h	44m 08s	—	—	—
Short	Lighter WLFI	0.05785	0.0096	get 0.0012% / 1h	44m 08s	$1.1M	$431K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now −4.308%Rate

Funding earned: $20.16
Price spread: −4.308% → 0.000%: −$430.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$416.67
Costs to cover: 0.060%
Break-even: 151.7 days

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 5 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	6.05 bp	7.4 bp −$7	16.9 bp −$169	doesn't fit	doesn't fit

Reya: 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 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	−0.0480%	1h	0.05732	−5.185%	$21K	$15K	50x	as long as short
01 Exchange WLFIUSD	−0.0120%	1h	0.05794	−4.159%	$4K	$335	3x	as long as short
dYdX WLFI-USD	−0.0060%	1h	0.05794	−4.151%	$6K	$13K	5x	as long as short
Reya WLFIRUSDPERPlong	0.0000%	1h	0.06045	long leg	—	—	—
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05795	−4.142%	$317	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−5.450%	$6K	$77K	5.5x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0095%	1h	0.05797	−4.110%	$526	$11K	10x	as long as short
Paradex WLFI-USD-PERP	+0.0096%	8h	0.05792	−4.196%	$2K	$10	5x	as long as short
Lighter WLFIshort	+0.0096%	1h	0.05785	−4.308%	$1.1M	$431K	5x
Nado WLFI-PERP	+0.0100%	1h	0.05794	−4.168%	$90K	$27K	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFI	+0.0100%	1h	0.05788	−4.267%	$10.6M	$929K	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05786	−4.292%	$1.6M	$666K	20x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05793	−4.176%	$247K	$15K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05791	−4.209%	$139.3M	$42.1M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05785	−4.308%	$21.4M	$19.3M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05789	−4.242%	$7.7M	$13.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05797	−4.115%	$7K	$10K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05788	−4.259%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05789	−4.242%	$12.9M	$20.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05790	−4.226%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05786	−4.292%	$8.0M	$3.6M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05788	−4.259%	—	$7.5M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05790	−4.226%	$234K	$32K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05787	−4.275%	$450K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05810	−3.895%	$288K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05790	−4.226%	$33K	$34K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05800	−4.060%	$39K	$1.6M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05792	−4.192%	$107	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05791	−4.216%	$175K	$1.0M	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05795	−4.151%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05792	−4.192%	$4.9M	$98K	75x	as long as short
Kraken Futures PF_WLFIUSD	+0.0625%	1h	0.05791	−4.206%	$97K	$127K	20x	as long as short