Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Backpack against SunX−0.121%49s7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2172.175% of the position

Long on SunX Short on Backpack

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)−0.190%−$19 · spread now −0.121%, 7d avg −0.131%

Together, before fees−0.427%−$43 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WLFI-USDT	0.05790	0.0100	pay 0.0050% / 4h	2h 14m	$39K	$1.7M	20x
Short	Backpack WLFI_USDC_PERP	0.05783	0.0100	get 0.0013% / 1h	14m 21s	$241K	$26K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.131%: $1.01
Slippage, 4 orders: −$199.46
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$216.45
Costs to cover: 2.175%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Backpack: live order book, 34 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 SunX live order book, 11 min ago	34.54 bp	93.9 bp −$94	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 34 min ago	0.86 bp	9.9 bp −$10	doesn't fit	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
Coinbase International WLFI-PERP-INTX	−0.0144%	1h	0.05737	−0.915%	$32K	$15K	50x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.415%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05779	−0.198%	$316	—	150x	as long as short
dYdX WLFI-USD	+0.0033%	1h	0.05778	−0.199%	$11K	$943	5x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.278%	$6K	$77K	5.5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05776	−0.242%	$1.0M	$459K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0099%	8h	0.05783	−0.121%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05779	−0.199%	$82K	$23K	5x	as long as short
Hyperliquid WLFI	+0.0100%	1h	0.05778	−0.207%	$10.6M	$1.3M	5x	as long as short
Aster WLFIUSDT	+0.0100%	4h	0.05776	−0.239%	$1.6M	$574K	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	0.05780	−0.168%	$247K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05779	−0.186%	$139.4M	$42.9M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05775	−0.259%	$21.1M	$19.4M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05780	−0.173%	$7.7M	$13.5M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05782	−0.142%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05779	−0.190%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05775	−0.259%	$13.8M	$20.5M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05780	−0.173%	$3.3M	$1.2M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05775	−0.259%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05781	−0.155%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERPshort	+0.0100%	1h	0.05783	−0.121%	$241K	$26K	10x
Variational Omni WLFI	+0.0100%	4h	0.05774	−0.284%	$451K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05779	−0.185%	$283K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05780	−0.173%	$33K	$38K	50x	as long as short
SunX WLFI-USDTlong	+0.0100%	4h	0.05790	long leg	$39K	$1.7M	20x
SoDEX WLFI-USD	+0.0100%	1h	0.05781	−0.155%	$84	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05777	−0.228%	$176K	$735K	10x	as long as short
01 Exchange WLFIUSD	+0.0200%	1h	0.05783	−0.121%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0303% / S −0.1371%	1h	0.05776	−0.240%	$7K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05784	−0.104%	$4.8M	$87K	75x	as long as short
Kraken Futures PF_WLFIUSD	+0.0379%	1h	0.05782	−0.132%	$97K	$90K	20x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0442%	1h	0.05785	−0.086%	$525	$11K	10x	as long as short