Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h —

Price spread now: Orderly against Lighter+0.039%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 Orderly

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.039% dearer against Lighter than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WDC	437.66	0.0032	pay 0.0004% / 1h	30m 11s	—	—	10x
Short	Orderly PERP_WDC_USDC_mythos	437.83	0.0100	get 0.0100% / 8h	7h 30m	$9K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.039%Rate

Funding earned: $14.27
Price spread: +0.039% → 0.000%: $3.88
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $12.16
Costs to cover: 0.060%
Break-even: 1.0 days

Slippage unknown: Lighter: no order-book sample; Orderly: 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 Lighter no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Lighter and Orderly: 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	−0.0300%	8h	437.67	+0.002%	$1.1M	$1.1M	20x	as long as short
edgeX WDCUSDC	−0.0195%	4h	438.92	+0.287%	$49K	$230K	10x	as long as short
Aster WDCUSDT	0.0000%	8h	438.43	+0.176%	$10K	$136K	20x	as long as short
Extended WDC-USD	0.0000%	1h	437.42	−0.054%	$2K	$188K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	437.69	+0.007%	$7.2M	$26.0M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	437.78	+0.027%	$1.8M	$717K	25x	as long as short
OKX WDC-USDT-SWAP	0.0000%	8h	437.83	+0.039%	$2.0M	$4.4M	20x	as long as short
Gate WDC_USDT	0.0000%	8h	437.60	−0.014%	$1.9M	$2.4M	50x	as long as short
GRVT WDC_USDT_Perp	0.0000%	8h	439.90	+0.512%	$515	$143K	10x	as long as short
BloFin WDC-USDT	+0.0011%	8h	437.91	+0.057%	$138K	$95K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX WDC-USD	+0.0028%	1h	437.61	−0.011%	$1.1M	$3.0M	10x	as long as short
Lighter WDClong	+0.0032%	1h	437.66	long leg	—	—	10x
tradeXYZ xyz:WDC	+0.0050%	1h	437.52	−0.032%	$2.3M	$2.1M	10x	as long as short
Orderly PERP_WDC_USDC_mythosshort	+0.0100%	8h	437.83	+0.039%	$9K	$2K	10x
KuCoin WDCUSDTM	+0.0100%	8h	438.54	+0.201%	$271K	$96K	20x	as long as short
SunX WDC-USDT	+0.0100%	8h	437.60	−0.014%	—	$2.3M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	439.08	+0.324%	$32K	$9K	20x	as long as short