Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0780%/8h= +85.4% APRpaid last 24h +0.058%

Price spread now: Lighter against Bybit+0.229%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days−0.071%−$7 · spread now +0.229%, 7d avg +0.121%

Together, before fees+0.086%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Lighter is 0.108% dearer against Bybit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.121%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.157% in total (about 8.2% a year). A funding rate is set anew for every payment. 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	Bybit WLDUSDT	0.4588	0.0100	pay 0.0100% / 8h	1h 37m	$66.0M	$81.3M	50x
Short	Lighter WLD	0.4598	0.0880	get 0.0110% / 1h	37m 44s	$5.2M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.229%Rate

Funding earned: $163.8
Price spread: +0.229% → +0.121%: $10.79
Slippage, 4 orders: −$37.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $126.45
Costs to cover: 0.481%
Break-even: 1.6 days

Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 5 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 Bybit live order book, 1 min ago	1.09 bp	9.0 bp −$9	17.2 bp −$172	102.7 bp −$10.3K	doesn't fit
Sell Lighter live order book, 5 min ago	2.71 bp	13.3 bp −$13	35.5 bp −$355	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	−0.0384%	8h	0.4600	+0.262%	$34K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−1.439%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0005%	8h	0.4604	+0.349%	$28K	$914K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4591	+0.070%	$164K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4604	+0.349%	$108K	$890K	25x	as long as short
KuCoin WLDUSDTM	+0.0001%	8h	0.4588	0.000%	$7.0M	$10.7M	50x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4605	+0.374%	$57K	—	150x	as long as short
Variational Omni WLD	+0.0046%	8h	0.4597	+0.196%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0064%	1h	0.4599	+0.251%	$277K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4597	+0.205%	$216K	$988K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4589	+0.030%	$51K	$480K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4589	+0.022%	$87.0M	$295.7M	75x	as long as short
Bybit WLDUSDTlong	+0.0100%	8h	0.4588	long leg	$66.0M	$81.3M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4586	−0.044%	$34.4M	$141.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4589	+0.022%	$7.5M	$35.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4588	0.000%	$49.3M	$51.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4586	−0.044%	$30.2M	$25.4M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4589	+0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4597	+0.207%	$128K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4598	+0.221%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4598	+0.218%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4597	+0.196%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4601	+0.283%	$47K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4611	+0.501%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4598	+0.218%	$205	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4596	+0.174%	$867K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4597	+0.196%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4586	−0.039%	$241K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4597	+0.196%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4595	+0.155%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4599	+0.250%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0185%	1h	0.4601	+0.289%	$923K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4616	+0.610%	$4.9M	$821K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4604	+0.340%	$329	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4606	+0.387%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4604	+0.349%	$274K	$1.6M	50x	as long as short
Lighter WLDshort	+0.0880%	1h	0.4598	+0.229%	$5.2M	$2.1M	10x
Hyperliquid WLD	+0.1082%	1h	0.4596	+0.170%	$50.1M	$43.0M	10x	as long as short