Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1008%/8h= −110.3% APRpaid last 24h −0.048%

Price spread now: Bybit against Lighter−0.230%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 7 days+0.065%+$7 · spread now −0.230%, 7d avg −0.121%

Together, before fees−0.081%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Bybit is 0.109% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.121%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% 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	Lighter WLD	0.4567	0.1088	pay 0.0136% / 1h	46m 43s	$5.1M	$2.0M	10x
Short	Bybit WLDUSDT	0.4556	0.0080	get 0.0080% / 8h	2h 46m	$66.9M	$78.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.230%Rate

Funding earned: −$211.6
Price spread: −0.230% → −0.121%: −$10.94
Slippage, 4 orders: −$32.95
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$266.48
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Bybit: live order book, 2 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, 6 min ago	3.80 bp	7.6 bp −$8	33.2 bp −$332	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.10 bp	10.3 bp −$10	25.4 bp −$254	114.3 bp −$11.4K	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	−0.0508%	8h	0.4568	+0.033%	$33K	$3.8M	1.7x	as long as short
Variational Omni WLD	−0.0055%	8h	0.4588	+0.460%	$2.1M	$1.7M	—	as long as short
Orderly PERP_WLD_USDC	−0.0028%	8h	0.4560	−0.142%	$28K	$918K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4559	−0.153%	$156K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4562	−0.099%	$153K	$768K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4561	−0.120%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0016%	8h	0.4557	−0.208%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0047%	8h	0.4553	−0.296%	$34.4M	$136.7M	50x	as long as short
Phoenix WLD	+0.0052%	1h	0.4585	+0.414%	$5K	$52K	10x	as long as short
Nado WLD-PERP	+0.0054%	1h	0.4556	−0.241%	$272K	$168K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDTshort	+0.0080%	8h	0.4556	−0.230%	$66.9M	$78.4M	50x
ApeX Omni WLDUSDT	+0.0084%	1h	0.4590	+0.515%	$55K	$227K	50x	as long as short
MEXC WLD_USDT	+0.0094%	8h	0.4560	−0.142%	$53.1M	$46.7M	300x	as long as short
Binance WLDUSDT	+0.0098%	8h	0.4557	−0.216%	$86.2M	$290.0M	75x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4561	−0.122%	$209K	$977K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4564	−0.054%	$53K	$473K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4558	−0.186%	$7.4M	$34.1M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4558	−0.186%	$30.1M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4557	−0.208%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4560	−0.147%	$128K	$278K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4558	−0.185%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4566	−0.008%	$618K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4558	−0.188%	$55K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4563	−0.077%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4558	−0.186%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4558	−0.186%	$858K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4558	−0.186%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4558	−0.183%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4560	−0.139%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4559	−0.161%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0215%	8h	0.4558	−0.186%	$5.0M	$834K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4560	−0.145%	$12K	—	100x	as long as short
Hyperliquid WLD	+0.0231%	1h	0.4561	−0.114%	$47.3M	$40.5M	10x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.215%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4574	+0.164%	$275K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0648%	1h	0.4565	−0.044%	$327	$77	5x	as long as short
Lighter WLDlong	+0.1088%	1h	0.4567	long leg	$5.1M	$2.0M	10x
Kraken Futures PF_WLDUSD	+0.1094%	1h	0.4561	−0.120%	$917K	$2.5M	50x	as long as short