Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.147%

Price spread now: Kalshi against Lighter−0.397%7-day average −0.229% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Lighter Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.399%−$40 on $10k

Price spread, last 7 days+0.329%+$33 · spread now −0.397%, 7d avg −0.229%

Together, before fees−0.070%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kalshi is 0.167% cheaper against Lighter than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.229%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4537	0.0264	pay 0.0033% / 1h	47m 41s	$4.9M	$2.9M	10x
Short	Kalshi KXWLDPERP	0.4519	0	get 0.0000% / 8h	3h 47m	$36K	$4.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.397%Rate

Funding earned: −$55.44
Price spread: −0.397% → −0.229%: −$16.74
Slippage, 4 orders: −$33.83
Fee Lighter: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$116.01
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Kalshi: live order book, 1 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, 5 min ago	1.44 bp	8.1 bp −$8	29.6 bp −$296	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	1.11 bp	6.1 bp −$6	11.9 bp −$119	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
Nado WLD-PERP	−0.0002%	1h	0.4531	−0.121%	$235K	$175K	5x	as long as short
Kalshi KXWLDPERPshort	0.0000%	8h	0.4519	−0.397%	$36K	$4.6M	1.7x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4531	−0.132%	$66K	—	150x	as long as short
dYdX WLD-USD	+0.0031%	1h	0.4531	−0.138%	$154K	$32K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4530	−0.154%	$27K	$624K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4531	−0.142%	$228K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4532	−0.106%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4532	−0.120%	$86.9M	$332.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4531	−0.132%	$64.1M	$89.3M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4531	−0.132%	$34.3M	$150.3M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDT	+0.0100%	8h	0.4531	−0.132%	$7.1M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4532	−0.110%	$42.0M	$55.6M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4530	−0.154%	$6.7M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4531	−0.132%	$29.9M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4531	−0.132%	—	$20.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4531	−0.143%	$132K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4523	−0.314%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4515	−0.488%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4518	−0.412%	$600K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4516	−0.463%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4531	−0.143%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4534	−0.066%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4527	−0.220%	$215	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	−0.375%	$827K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4528	−0.198%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4528	−0.191%	$208K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4530	−0.148%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.639%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4528	−0.203%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0192%	1h	0.4531	−0.132%	$119K	$1.0M	25x	as long as short
01 Exchange WLDUSD	+0.0192%	1h	0.4532	−0.099%	$324	$55	5x	as long as short
Phoenix WLD	+0.0194%	1h	0.4520	−0.375%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4531	−0.128%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4525	−0.264%	$4.4M	$911K	75x	as long as short
Hyperliquid WLD	+0.0260%	1h	0.4536	−0.026%	$50.2M	$43.1M	10x	as long as short
Lighter WLDlong	+0.0264%	1h	0.4537	long leg	$4.9M	$2.9M	10x
Kraken Futures PF_WLDUSD	+0.0302%	1h	0.4529	−0.177%	$871K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4531	−0.132%	$269K	$1.6M	50x	as long as short