Funding you earn now, next payment 23:00 UTC+0.0828%/8h= +90.7% APRnext payment +$1.04 per $10,000 · paid last 24h +0.037%
Price spread now: Lighter against Backpack+0.185%7-day average +0.111% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$450.447% of the position
Funding, last 7 days+0.068%+$7 on $10k
+Price spread, last 4 days (all we have)+0.093%+$9 · spread now +0.185%, 7d avg +0.111%
=Together, before fees+0.160%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Lighter is 0.074% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.111%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.068% in total (about 3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.04 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack WLD_USDC_PERP | 0.4548 | 0.0100 | pay 0.0013% / 1h | 51m 24s | $129K | $269K | 10x |
| Short | Lighter WLD | 0.4556 | 0.0928 | get 0.0116% / 1h | 51m 24s | $5.2M | $2.1M | 10x |
Backpack WLD_USDC_PERP
Lighter WLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $173.88
- Price spread: +0.185% → +0.111%
- $7.36
- Slippage, 4 orders
- −$34.66
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $136.58
- Costs to cover
- 0.447%
- Break-even
- 1.5 days
Slippage from Backpack: live order book, 32 min ago; Lighter: live order book, 7 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 Backpack live order book, 32 min ago | 0.44 bp | 6.4 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 2.42 bp | 6.6 bp −$7 | 30.7 bp −$307 | doesn't fit | doesn't fit |
WLD on 38 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXWLDPERP | −0.0453% | 8h | 0.4550 | +0.051% | $45K | $3.8M | 1.7x | as long as short |
| Injective WLD/USDC PERP | −0.0079% | 1h | 0.4522 | −0.565% | $6K | $185K | 5.5x | as long as short |
| Orderly PERP_WLD_USDC | −0.0011% | 8h | 0.4548 | +0.007% | $28K | $915K | 10x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4547 | −0.024% | $155K | $6K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4546 | −0.037% | $121K | $916K | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4547 | −0.007% | $57K | — | 150x | as long as short |
| KuCoin WLDUSDTM | +0.0006% | 8h | 0.4543 | −0.103% | $7.0M | $10.7M | 50x | as long as short |
| Variational Omni WLD | +0.0035% | 8h | 0.4542 | −0.123% | $2.1M | $1.6M | — | as long as short |
| Nado WLD-PERP | +0.0089% | 1h | 0.4545 | −0.070% | $272K | $169K | 5x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4549 | +0.023% | $213K | $973K | 50x | as long as short |
Kalshi KXWLDPERP
Injective WLD/USDC PERP
Orderly PERP_WLD_USDC
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
KuCoin WLDUSDTM
Variational Omni WLD
Nado WLD-PERP
Aster WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica WLD | +0.0100% | 1h | 0.4546 | −0.037% | $51K | $481K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4548 | +0.007% | $85.7M | $293.8M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4545 | −0.059% | $64.8M | $80.5M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4545 | −0.059% | $34.1M | $138.8M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4545 | −0.059% | $7.4M | $34.6M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4546 | −0.037% | $57.9M | $49.6M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4545 | −0.059% | $30.1M | $25.1M | 75x | as long as short |
| BingX WLD-USDC | +0.0100% | 8h | 0.4547 | −0.015% | — | $1.3M | — | as long as short |
| Backpack WLD_USDC_PERPlong | +0.0100% | 1h | 0.4548 | long leg | $129K | $269K | 10x | |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4550 | +0.058% | $27K | $315K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4557 | +0.204% | $611K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4549 | +0.029% | $55K | $227K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4547 | −0.024% | $46K | $1.7M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4553 | +0.117% | $23K | $1.5M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4545 | −0.059% | $200 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4548 | +0.007% | $859K | $1.8M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4545 | −0.059% | $1.8M | $3.8M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4545 | −0.064% | $133K | $745K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4546 | −0.038% | $31K | $5K | 3x | as long as short |
| Phoenix WLD | +0.0124% | 1h | 0.4556 | +0.189% | $5K | $53K | 10x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4544 | −0.077% | — | — | 20x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0187% | 1h | 0.4549 | +0.027% | $922K | $2.6M | 50x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4548 | +0.007% | $4.8M | $815K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0255% / S −0.2169% | 1h | 0.4547 | −0.011% | $9K | — | 100x | as long as short |
| 01 Exchange WLDUSD | +0.0264% | 1h | 0.4551 | +0.070% | $326 | $77 | 5x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0424% | 1h | 0.4531 | −0.367% | $277K | $1.6M | 50x | as long as short |
| Lighter WLDshort | +0.0928% | 1h | 0.4556 | +0.185% | $5.2M | $2.1M | 10x | |
| Hyperliquid WLD | +0.1105% | 1h | 0.4555 | +0.169% | $48.8M | $42.4M | 10x | as long as short |
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDC
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Phoenix WLD
Reya WLDRUSDPERP
Kraken Futures PF_WLDUSD
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
01 Exchange WLDUSD
Coinbase International WLD-PERP-INTX
Hyperliquid WLD