Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h +0.109%

Price spread now: Lighter against Orderly+0.029%7-day average +0.127% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.223%+$22 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.029%, 7d avg +0.127%

Together, before fees−0.015%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.098% cheaper against Orderly than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.127%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WLD_USDC	0.4488	0.0091	pay 0.0091% / 8h	5h 57m	$27K	$351K	10x
Short	Lighter WLD	0.4489	0.0096	get 0.0012% / 1h	57m 35s	$4.9M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now +0.029%Rate

Funding earned: $1.15
Price spread: +0.029% → +0.127%: −$9.84
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$14.69
Costs to cover: 0.060%
Break-even: 96.2 days

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 3 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	2.11 bp	3.4 bp −$3	25.8 bp −$258	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_WLDUSD	−0.0192%	1h	0.4488	+0.008%	$876K	$2.6M	50x	as long as short
Polymarket Perps WLD-USD	−0.0148%	1h	0.4479	−0.192%	$49K	$2.6M	10x	as long as short
Bybit WLDUSDT	−0.0087%	8h	0.4483	−0.111%	$63.9M	$85.0M	50x	as long as short
Gate WLD_USDT	−0.0071%	8h	0.4485	−0.067%	$7.0M	$30.9M	75x	as long as short
Nado WLD-PERP	−0.0065%	1h	0.4485	−0.056%	$235K	$159K	5x	as long as short
01 Exchange WLDUSD	−0.0032%	1h	0.4487	−0.029%	$321	$55	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4487	−0.030%	$153K	$31K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4488	0.000%	$51K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4489	+0.022%	$102K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4488	−0.010%	$65K	—	150x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	−0.245%	$6K	$185K	5.5x	as long as short
KuCoin WLDUSDTM	+0.0074%	8h	0.4483	−0.111%	$6.6M	$10.4M	50x	as long as short
Orderly PERP_WLD_USDClong	+0.0091%	8h	0.4488	long leg	$27K	$351K	10x
Lighter WLDshort	+0.0096%	1h	0.4489	+0.029%	$4.9M	$3.0M	10x
Hyperliquid WLD	+0.0100%	1h	0.4489	+0.018%	$49.5M	$30.0M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4488	+0.011%	$211K	$884K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4486	−0.045%	$58K	$498K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4484	−0.089%	$85.1M	$312.0M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4484	−0.089%	$34.2M	$141.0M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4485	−0.067%	$42.8M	$54.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4484	−0.089%	$29.7M	$28.6M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4485	−0.067%	—	$55.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4487	−0.013%	$128K	$271K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4481	−0.146%	$2.1M	$1.4M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4484	−0.085%	$27K	$323K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4492	+0.089%	$594K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4488	0.000%	$59K	$242K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4492	+0.089%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4486	−0.045%	$231	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4483	−0.111%	$822K	$1.2M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4489	+0.022%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4483	−0.122%	$212K	$659K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4487	−0.022%	$30K	$500	3x	as long as short
Phoenix WLD	+0.0123%	1h	0.4487	−0.016%	$4K	$40K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4482	−0.136%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4489	+0.028%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4489	+0.022%	$4.8M	$912K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4489	+0.022%	$273K	$978K	50x	as long as short