Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h —

Price spread now: Lighter against Bybit−0.034%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.034% cheaper against Bybit than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WDCUSDT	447.00	0	get 0.0000% / 8h	3h 24m	$1.9M	$858K	25x
Short	Lighter WDC	446.85	0.0032	get 0.0004% / 1h	24m 55s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.034%Rate

Funding earned: $6.72
Price spread: −0.034% → 0.000%: −$3.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.64
Costs to cover: 0.110%
Break-even: 15.0 days

Slippage unknown: Bybit: live order book, 2 min ago; Lighter: no order-book sample. 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 Bybit live order book, 2 min ago	1.68 bp	63.1 bp −$63	140.6 bp −$1,406	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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.

WDC on 17 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
Aster WDCUSDT	0.0000%	8h	447.19	+0.043%	$10K	$115K	20x	as long as short
Bybit WDCUSDTlong	0.0000%	8h	447.00	long leg	$1.9M	$858K	25x
Gate WDC_USDT	0.0000%	8h	447.10	+0.022%	$1.9M	$2.4M	50x	as long as short
Bitget WDCUSDT	0.0000%	8h	447.21	+0.047%	$1.1M	$1.1M	20x	as long as short
Binance WDCUSDT	+0.0023%	8h	447.08	+0.018%	$7.3M	$24.9M	20x	as long as short
Extended WDC-USD	+0.0024%	1h	446.99	−0.002%	$3K	$175K	10x	as long as short
Lighter WDCshort	+0.0032%	1h	446.85	−0.034%	—	—	10x
GRVT WDC_USDT_Perp	+0.0032%	8h	447.80	+0.178%	$519	$156K	10x	as long as short
QFEX WDC-USD	+0.0037%	1h	447.10	+0.022%	$1.1M	$3.3M	10x	as long as short
tradeXYZ xyz:WDC	+0.0050%	1h	446.85	−0.034%	$2.4M	$2.1M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin WDC-USDT	+0.0052%	8h	447.37	+0.083%	$143K	$94K	20x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	447.06	+0.013%	$274K	$45K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	447.06	+0.013%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	447.10	+0.022%	—	$2.4M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	447.43	+0.096%	$33K	$8K	10x	as long as short
OKX WDC-USDT-SWAP	+0.0112%	8h	447.09	+0.020%	$2.1M	$4.0M	20x	as long as short
edgeX WDCUSDC	+0.0264%	4h	447.56	+0.125%	$49K	$229K	10x	as long as short