Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0700%/8h= +76.6% APRpaid last 24h +0.108%

Price spread now: Lighter against Variational Omni+0.180%7-day average +0.143% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.122%+$12 on $10k

Price spread, last 7 days−0.234%−$23 · spread now +0.180%, 7d avg +0.143%

Together, before fees−0.112%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Lighter is 0.036% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.143%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.122% in total (about 12.6% 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	Variational Omni WLD	0.4568	0.0100	pay 0.0100% / 8h	3h 31m	$2.1M	$1.6M	—
Short	Lighter WLD	0.4576	0.0800	get 0.0100% / 1h	31m 48s	$5.2M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.180%Rate

Funding earned: $147
Price spread: +0.180% → +0.143%: $3.61
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $150.61
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 6 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 Variational Omni RFQ quote, 2 min ago	5.49 bp	doesn't fit	18.7 bp −$187	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	4.36 bp	7.6 bp −$8	26.5 bp −$265	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	−0.0031%	1h	0.4562	−0.125%	$242K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4564	−0.077%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4563	−0.103%	$51K	$4.7M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4567	−0.011%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0019%	8h	0.4561	−0.147%	$6.9M	$11.8M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4570	+0.049%	$210K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4563	−0.100%	$49K	$524K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4565	−0.062%	$87.1M	$329.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4561	−0.147%	$65.2M	$90.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4566	−0.037%	$34.5M	$151.3M	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	0.4564	−0.081%	$7.3M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4564	−0.081%	$42.7M	$54.5M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4566	−0.037%	$30.2M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4566	−0.037%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4566	−0.042%	$137K	$302K	10x	as long as short
Variational Omni WLDlong	+0.0100%	8h	0.4568	long leg	$2.1M	$1.6M	—
edgeX WLDUSDC	+0.0100%	4h	0.4569	+0.034%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4571	+0.072%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.269%	$43K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4563	−0.101%	$40K	$2.1M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4567	−0.015%	$28K	$868K	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4568	+0.007%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4566	−0.037%	$205	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4554	−0.300%	$832K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4566	−0.037%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4562	−0.132%	$217K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4568	+0.018%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4564	−0.088%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.182%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4561	−0.136%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0188%	1h	0.4569	+0.028%	$124K	$959K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4559	−0.190%	$4.9M	$891K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4567	−0.014%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0304%	1h	0.4566	−0.028%	$327	$55	5x	as long as short
Hyperliquid WLD	+0.0433%	1h	0.4572	+0.094%	$50.3M	$43.4M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0520%	1h	0.4568	+0.008%	$891K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4570	+0.050%	$267K	$1.7M	50x	as long as short
Lighter WLDshort	+0.0800%	1h	0.4576	+0.180%	$5.2M	$2.6M	10x