Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 13:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.099%

Price spread now: MEXC against Lighter−0.172%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 7 days+0.170%+$17 · spread now −0.172%, 7d avg −0.114%

Together, before fees−0.008%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.058% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.114%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4535	0.0176	pay 0.0022% / 1h	25m 04s	$4.9M	$3.0M	10x
Short	MEXC WLD_USDT	0.4527	0.0100	get 0.0100% / 8h	3h 25m	$43.5M	$55.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$15.96
Price spread: −0.172% → −0.114%: −$5.81
Slippage, 4 orders: −$13.04
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$34.81
Costs to cover: 0.130%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; MEXC: 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	2.33 bp	3.8 bp −$4	20.1 bp −$201	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.10 bp	1.1 bp −$1	3.8 bp −$38	20.7 bp −$2,067	72.3 bp −$36.1K

WLD on 38 exchanges

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	−0.0102%	1h	0.4526	−0.194%	$236K	$132K	5x	as long as short
Gate WLD_USDT	−0.0066%	8h	0.4527	−0.172%	$7.1M	$30.8M	75x	as long as short
KuCoin WLDUSDTM	−0.0056%	8h	0.4527	−0.172%	$6.6M	$10.1M	50x	as long as short
Bybit WLDUSDT	−0.0018%	8h	0.4525	−0.216%	$64.6M	$84.1M	50x	as long as short
Variational Omni WLD	−0.0012%	8h	0.4539	+0.082%	$2.2M	$1.5M	—	as long as short
dYdX WLD-USD	0.0000%	1h	0.4531	−0.094%	$155K	$31K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4530	−0.106%	$29K	$4.1M	1.7x	as long as short
Phoenix WLD	0.0000%	1h	0.4537	+0.060%	$4K	$40K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4527	−0.172%	$106K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4528	−0.159%	$65K	—	150x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WLDUSD	+0.0029%	1h	0.4530	−0.106%	$867K	$2.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0032%	8h	0.4523	−0.260%	$35.0M	$141.6M	50x	as long as short
Injective WLD/USDC PERP	+0.0033%	1h	0.4477	−1.275%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0062%	8h	0.4527	−0.172%	$27K	$3K	10x	as long as short
01 Exchange WLDUSD	+0.0088%	1h	0.4526	−0.205%	$323	$67	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4531	−0.092%	$214K	$906K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4533	−0.037%	$66K	$503K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4526	−0.188%	$86.3M	$310.4M	75x	as long as short
MEXC WLD_USDTshort	+0.0100%	8h	0.4527	−0.172%	$43.5M	$55.1M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4528	−0.150%	$29.7M	$28.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4527	−0.172%	—	$55.5M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4529	−0.137%	$128K	$275K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4530	−0.095%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4540	+0.109%	$603K	$2.3M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4535	+0.004%	$46K	$247K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4527	−0.163%	$41K	$2.5M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4533	−0.040%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4527	−0.172%	$206	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4532	−0.062%	$845K	$1.1M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4527	−0.172%	$1.6M	$3.5M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4524	−0.236%	$213K	$645K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4528	−0.149%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4526	−0.202%	—	—	20x	as long as short
Lighter WLDlong	+0.0176%	1h	0.4535	long leg	$4.9M	$3.0M	10x
BloFin WLD-USDT	+0.0220%	8h	0.4534	−0.018%	$4.8M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1107%	1h	0.4527	−0.169%	$5K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0232%	1h	0.4536	+0.026%	$274K	$985K	50x	as long as short
Hyperliquid WLD	+0.0449%	1h	0.4536	+0.035%	$52.8M	$27.5M	10x	as long as short