Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0972%/8h= +106.4% APRpaid last 24h +0.023%

Price spread now: Lighter against SunX+0.053%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1051.048% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 3 days (all we have)−0.416%−$42 · spread now +0.053%, 7d avg −0.021%

Together, before fees−0.393%+ Points / potential airdropLighter: Season 3 · farm board−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Lighter is 0.074% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.021%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.023% in total (about 1.2% 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	SunX WLD-USDT	0.4545	0.0100	pay 0.0100% / 8h	2h 35m	$23K	$1.5M	50x
Short	Lighter WLD	0.4547	0.1072	get 0.0134% / 1h	35m 21s	$5.1M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.053%Rate

Funding earned: $204.12
Price spread: +0.053% → −0.021%: $7.37
Slippage, 4 orders: −$96.78
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $106.71
Costs to cover: 1.048%
Break-even: 3.3 days

Slippage from SunX: live order book, 9 min ago; Lighter: live order book, 3 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 SunX live order book, 9 min ago	29.67 bp	38.6 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	4.83 bp	10.8 bp −$11	44.5 bp −$445	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
Kalshi KXWLDPERP	−0.0557%	8h	0.4532	−0.286%	$44K	$3.8M	1.7x	as long as short
Variational Omni WLD	−0.0030%	8h	0.4535	−0.213%	$2.1M	$1.6M	—	as long as short
Orderly PERP_WLD_USDC	−0.0026%	8h	0.4542	−0.066%	$28K	$918K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4540	−0.114%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4543	−0.044%	$128K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4541	−0.087%	$56K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0017%	8h	0.4540	−0.110%	$7.0M	$10.7M	50x	as long as short
Nado WLD-PERP	+0.0046%	1h	0.4541	−0.099%	$271K	$168K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4536	−0.205%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0061%	8h	0.4543	−0.044%	$34.0M	$137.6M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0098%	8h	0.4541	−0.088%	$65.1M	$80.1M	50x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4545	−0.011%	$47.0M	$40.7M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4541	−0.095%	$215K	$981K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4540	−0.113%	$50K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4541	−0.089%	$85.8M	$291.6M	75x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4539	−0.132%	$7.4M	$34.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4542	−0.066%	$52.6M	$47.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4539	−0.132%	$30.0M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4541	−0.088%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4531	−0.308%	$128K	$274K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4544	−0.014%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4540	−0.110%	$613K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4543	−0.044%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4541	−0.077%	$54K	$1.7M	10x	as long as short
SunX WLD-USDTlong	+0.0100%	8h	0.4545	long leg	$23K	$1.5M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4542	−0.066%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4539	−0.132%	$856K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4529	−0.352%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4536	−0.187%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4543	−0.046%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4539	−0.136%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4542	−0.076%	$12K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4545	0.000%	$4.9M	$802K	75x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.694%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4533	−0.264%	$280K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0464%	1h	0.4546	+0.024%	$325	$77	5x	as long as short
Lighter WLDshort	+0.1072%	1h	0.4547	+0.053%	$5.1M	$2.0M	10x
Kraken Futures PF_WLDUSD	+0.1098%	1h	0.4544	−0.020%	$922K	$2.6M	50x	as long as short