Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h —

Price spread now: Binance against Lighter+0.148%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Binance

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

The price spread pays, funding is against you. Binance is 0.148% dearer against Lighter than usual: you sell high and buy low (spread +0.148% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WDC	445.04	0.0032	pay 0.0004% / 1h	50m 41s	—	—	10x
Short	Binance WDCUSDT	445.70	0.0003	get 0.0003% / 8h	2h 50m	$7.3M	$25.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.148%Rate

Funding earned: −$6.11
Price spread: +0.148% → 0.000%: $14.8
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1.3
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Binance: live order book, 5 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 Lighter no order-book sample	—	—	—	—	—
Sell Binance live order book, 5 min ago	2.59 bp	10.0 bp −$10	32.8 bp −$328	146.0 bp −$14.6K	doesn't fit

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
Bitget WDCUSDT	−0.0144%	8h	445.70	+0.148%	$1.1M	$1.1M	20x	as long as short
BloFin WDC-USDT	−0.0019%	8h	445.72	+0.153%	$143K	$94K	20x	as long as short
Aster WDCUSDT	0.0000%	8h	445.37	+0.075%	$10K	$115K	20x	as long as short
Extended WDC-USD	0.0000%	1h	445.60	+0.126%	$6K	$165K	10x	as long as short
Bybit WDCUSDT	0.0000%	8h	445.55	+0.115%	$1.9M	$865K	25x	as long as short
Gate WDC_USDT	0.0000%	8h	445.60	+0.126%	$1.9M	$2.4M	50x	as long as short
GRVT WDC_USDT_Perp	0.0000%	8h	445.94	+0.202%	$531	$155K	10x	as long as short
Binance WDCUSDTshort	+0.0003%	8h	445.70	+0.148%	$7.3M	$25.2M	20x
QFEX WDC-USD	+0.0018%	1h	445.80	+0.171%	$1.1M	$3.2M	10x	as long as short
Lighter WDClong	+0.0032%	1h	445.04	long leg	—	—	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WDC-USDT-SWAP	+0.0073%	8h	445.84	+0.180%	$2.1M	$4.1M	20x	as long as short
tradeXYZ xyz:WDC	+0.0077%	1h	445.43	+0.088%	$2.4M	$2.1M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	445.33	+0.065%	$273K	$45K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	445.67	+0.142%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	446.10	+0.238%	—	$2.4M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	446.05	+0.227%	$33K	$8K	10x	as long as short
edgeX WDCUSDC	+0.0244%	4h	445.71	+0.150%	$49K	$230K	10x	as long as short