Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: Variational Omni against Reya−4.812%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 4.812% cheaper against Reya than usual: you would sell low and buy high (spread −4.812% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$481 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	4m 10s	—	—	—
Short	Variational Omni WLFI	0.05754	0.0100	get 0.0050% / 4h	3h 04m	$443K	$34K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −4.812%Rate

Funding earned: $21
Price spread: −4.812% → 0.000%: −$481.18
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$466.18
Costs to cover: 0.060%
Break-even: 162.4 days

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 5 min ago	4.34 bp	doesn't fit	25.2 bp −$252	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 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	−0.0109%	1h	0.05770	−4.549%	$73K	$49K	20x	as long as short
Lighter WLFI	−0.0008%	1h	0.05762	−4.687%	$996K	$401K	5x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05762	−4.694%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERPlong	0.0000%	1h	0.06045	long leg	—	—	—
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05771	−4.538%	$524	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05769	−4.575%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−5.448%	$6K	$77K	5.5x	as long as short
Aster WLFIUSDT	+0.0084%	4h	0.05767	−4.597%	$1.6M	$589K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0091%	8h	0.05765	−4.634%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05767	−4.601%	$80K	$24K	5x	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	0.05764	−4.654%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05768	−4.594%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05770	−4.552%	$138.2M	$39.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05760	−4.720%	$20.9M	$17.4M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05761	−4.703%	$7.6M	$12.7M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05772	−4.520%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05766	−4.621%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05764	−4.654%	$15.5M	$21.6M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05770	−4.554%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05764	−4.654%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05761	−4.703%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05768	−4.587%	$240K	$27K	10x	as long as short
Variational Omni WLFIshort	+0.0100%	4h	0.05754	−4.812%	$443K	$34K	—
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05768	−4.582%	$278K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05760	−4.720%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05770	−4.554%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05771	−4.538%	$114	$6K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05764	−4.650%	$134K	$512K	10x	as long as short
01 Exchange WLFIUSD	+0.0120%	1h	0.05771	−4.538%	$4K	$319	3x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	−5.100%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05765	−4.635%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05761	−4.703%	$4.7M	$78K	75x	as long as short