Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0444%/8h= −48.6% APRpaid last 24h −0.082%

Price spread now: SunX against Lighter−0.460%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$980.976% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.823%+$82 · spread now −0.460%, 7d avg +0.014%

Together, before fees+0.741%+ Points / potential airdropLighter: Season 3 · farm board+$74 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and SunX is 0.474% cheaper against Lighter than usual: you would sell low and buy high (−$47 if the spread goes back to its 7-day average of +0.014%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.082% in total (about -4.3% 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	0.4589	0.0544	pay 0.0068% / 1h	55m 35s	$5.1M	$2.5M	10x
Short	SunX WLD-USDT	0.4568	0.0100	get 0.0100% / 8h	3h 55m	$23K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.460%Rate

Funding earned: −$93.24
Price spread: −0.460% → +0.014%: −$47.37
Slippage, 4 orders: −$89.58
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$238.18
Costs to cover: 0.976%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; SunX: live order book, 9 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, 7 min ago	3.17 bp	6.0 bp −$6	37.3 bp −$373	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	29.63 bp	46.1 bp −$46	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
Polymarket Perps WLD-USD	−0.0014%	1h	0.4585	−0.083%	$40K	$2.2M	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4581	−0.173%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4564	−0.547%	$54K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4563	−0.569%	$124K	$963K	25x	as long as short
Nado WLD-PERP	+0.0002%	1h	0.4584	−0.111%	$243K	$205K	5x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4565	−0.527%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0015%	8h	0.4563	−0.569%	$6.9M	$11.7M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4563	−0.569%	$28K	$884K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4565	−0.521%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4579	−0.211%	$49K	$525K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4585	−0.089%	$86.9M	$329.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4583	−0.133%	$65.3M	$89.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4586	−0.068%	$34.5M	$151.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4581	−0.177%	$7.3M	$36.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4580	−0.198%	$43.5M	$54.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4578	−0.242%	$30.3M	$30.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4580	−0.198%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4564	−0.540%	$136K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4560	−0.641%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4568	−0.455%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4569	−0.438%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4566	−0.503%	$43K	$238K	50x	as long as short
SunX WLD-USDTshort	+0.0100%	8h	0.4568	−0.460%	$23K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4561	−0.612%	$208	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4567	−0.482%	$835K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4567	−0.482%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4579	−0.215%	$220K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4564	−0.547%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4560	−0.639%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4583	−0.133%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4567	−0.492%	$5K	$51K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4562	−0.591%	$4.9M	$829K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4564	−0.546%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0288%	1h	0.4590	+0.011%	$328	$80	5x	as long as short
Hyperliquid WLD	+0.0320%	1h	0.4571	−0.403%	$50.2M	$43.4M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0520%	1h	0.4563	−0.559%	$881K	$2.8M	50x	as long as short
Lighter WLDlong	+0.0544%	1h	0.4589	long leg	$5.1M	$2.5M	10x
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4569	−0.438%	$268K	$1.6M	50x	as long as short