Funding you earn now, next payment 00:00 UTC−0.1388%/8h= −152.0% APRnext payment −$1.73 per $10,000 · paid last 24h −0.050%
Price spread now: Backpack against Lighter−0.214%7-day average −0.112% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$340.336% of the position
Funding, last 7 days−0.080%−$8 on $10k
+Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.214%, 7d avg −0.112%
=Together, before fees−0.119%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Backpack is 0.101% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.112%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.080% in total (about -4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.73 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 | Lighter WLD | 0.4590 | 0.1488 | pay 0.0186% / 1h | 34m 01s | $5.2M | $2.0M | 10x |
| Short | Backpack WLD_USDC_PERP | 0.4580 | 0.0100 | get 0.0013% / 1h | 34m 01s | $129K | $272K | 10x |
Lighter WLD
Backpack WLD_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$291.48
- Price spread: −0.214% → −0.112%
- −$10.15
- Slippage, 4 orders
- −$23.59
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$335.22
- Costs to cover
- 0.336%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Backpack: live order book, 44 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 Lighter live order book, 4 min ago | 4.14 bp | 9.3 bp −$9 | 28.5 bp −$285 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 44 min ago | 0.33 bp | 8.5 bp −$8 | doesn't fit | 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 | −0.0214% | 8h | 0.4580 | −0.218% | $63K | $3.9M | 1.7x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4583 | −0.155% | $164K | $13K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4579 | −0.240% | $111K | $883K | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4580 | −0.221% | $57K | — | 150x | as long as short |
| KuCoin WLDUSDTM | +0.0017% | 8h | 0.4576 | −0.305% | $6.9M | $10.9M | 50x | as long as short |
| Orderly PERP_WLD_USDC | +0.0026% | 8h | 0.4578 | −0.261% | $28K | $909K | 10x | as long as short |
| Nado WLD-PERP | +0.0059% | 1h | 0.4580 | −0.218% | $276K | $169K | 5x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4581 | −0.205% | $189K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4583 | −0.148% | $53K | $483K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4581 | −0.201% | $86.5M | $301.3M | 75x | as long as short |
Kalshi KXWLDPERP
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
KuCoin WLDUSDTM
Orderly PERP_WLD_USDC
Nado WLD-PERP
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit WLDUSDT | +0.0100% | 8h | 0.4578 | −0.261% | $65.5M | $82.7M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4577 | −0.283% | $34.1M | $142.7M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4580 | −0.218% | $7.4M | $35.6M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4579 | −0.240% | $45.9M | $52.6M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4577 | −0.283% | $30.2M | $25.8M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4579 | −0.240% | — | $67.1M | — | as long as short |
| Backpack WLD_USDC_PERPshort | +0.0100% | 1h | 0.4580 | −0.214% | $129K | $272K | 10x | |
| Variational Omni WLD | +0.0100% | 8h | 0.4579 | −0.240% | $2.1M | $1.6M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4583 | −0.153% | $27K | $316K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4584 | −0.137% | $618K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4583 | −0.153% | $55K | $228K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4580 | −0.216% | $45K | $1.6M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4586 | −0.087% | $23K | $1.5M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4578 | −0.261% | $213 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4575 | −0.327% | $852K | $1.8M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4579 | −0.240% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4576 | −0.301% | $234K | $845K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4580 | −0.221% | $31K | $5K | 3x | as long as short |
| Phoenix WLD | +0.0104% | 1h | 0.4590 | 0.000% | $5K | $53K | 10x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4577 | −0.283% | — | — | 20x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4577 | −0.283% | $4.9M | $823K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0229% / S −0.1268% | 1h | 0.4579 | −0.243% | $5K | — | 100x | as long as short |
| 01 Exchange WLDUSD | +0.0280% | 1h | 0.4583 | −0.157% | $328 | $77 | 5x | as long as short |
| Injective WLD/USDC PERP | +0.0373% | 1h | 0.4592 | +0.044% | $6K | $185K | 5.5x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0440% | 1h | 0.4585 | −0.109% | $271K | $1.6M | 50x | as long as short |
| Hyperliquid WLD | +0.0537% | 1h | 0.4585 | −0.120% | $49.7M | $43.0M | 10x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0718% | 1h | 0.4581 | −0.188% | $905K | $2.7M | 50x | as long as short |
| Lighter WLDlong | +0.1488% | 1h | 0.4590 | long leg | $5.2M | $2.0M | 10x |
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDT
Variational Omni WLD
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
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
01 Exchange WLDUSD
Injective WLD/USDC PERP
Coinbase International WLD-PERP-INTX
Hyperliquid WLD
Kraken Futures PF_WLDUSD