User blog comment:ImperiexSeed/Barry and Wally's speed/@comment-3423279-20161201204408/@comment-3221148-20161202090146

Wally was generally faster than Barry, though the division is more in this aspect:

1) Wally is more proficient in accessing and manipulating the Speed Force, the tricks of which allow him to outpace any speedster, and even the speed of instant teleportation...

2) Barry is the one with limitless potential for speeding up, however, that usually activates in the moment of crisis.

Of course, that was the characteristic of New Earth Wally, the one with red hair, not the Other Wally from Prime Earth. Seeing how both characters coexist now in the comics, it's unclear what are the Other Wally's powers and what's their extent. Of course, the show will probably amalgamate the two Wallys.