Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: Bybit against Lighter+0.100%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 Bybit

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. Bybit is 0.100% dearer against Lighter than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WDC	450.35	0.0032	pay 0.0004% / 1h	21m 42s	—	—	10x
Short	Bybit WDCUSDT	450.80	0	get 0.0000% / 8h	6h 21m	$2.0M	$824K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$6.72
Price spread: +0.100% → 0.000%: $9.99
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$7.73
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Bybit: 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 Bybit live order book, 5 min ago	2.00 bp	22.4 bp −$22	143.9 bp −$1,439	doesn't fit	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 16 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
edgeX WDCUSDC	−0.0984%	4h	450.75	+0.089%	$50K	$229K	10x	as long as short
Aster WDCUSDT	0.0000%	8h	450.48	+0.029%	$11K	$115K	20x	as long as short
Extended WDC-USD	0.0000%	1h	450.78	+0.096%	$4K	$134K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	450.78	+0.095%	$7.5M	$25.0M	20x	as long as short
Bybit WDCUSDTshort	0.0000%	8h	450.80	+0.100%	$2.0M	$824K	25x
Gate WDC_USDT	0.0000%	8h	450.90	+0.122%	$2.0M	$2.6M	50x	as long as short
Bitget WDCUSDT	0.0000%	8h	450.94	+0.131%	$1.2M	$1.1M	20x	as long as short
Lighter WDClong	+0.0032%	1h	450.35	long leg	—	—	10x
OKX WDC-USDT-SWAP	+0.0053%	8h	450.88	+0.118%	$2.2M	$4.0M	20x	as long as short
QFEX WDC-USD	+0.0062%	1h	450.83	+0.107%	$1.1M	$3.7M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:WDC	+0.0072%	1h	450.42	+0.016%	$2.4M	$2.2M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	450.75	+0.089%	$277K	$44K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	450.88	+0.118%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	450.90	+0.122%	—	$2.5M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	450.97	+0.138%	$33K	$8K	10x	as long as short
GRVT WDC_USDT_Perp	+0.0454%	8h	450.67	+0.072%	$771	$161K	10x	as long as short