Funding you earn now, next payment 23:00 UTC+0.0884%/8h= +96.8% APRnext payment +$1.10 per $10,000 · paid last 24h +0.037%
Price spread now: Lighter against Backpack−0.009%7-day average +0.111% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$410.406% of the position
Funding, last 7 days+0.068%+$7 on $10k
+Price spread, last 4 days (all we have)+0.286%+$29 · spread now −0.009%, 7d avg +0.111%
=Together, before fees+0.354%+ Points / potential airdropLighter: Season 3 · farm board+$35 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.120% cheaper against Backpack than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.111%). If the spread goes back, that is −$12 on $10k: about 11 hours of funding at the current rate (+$27 a day). At the pace of the last 7 days (+0.068% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.068% in total (about 3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.10 per $10,000. 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 | Backpack WLD_USDC_PERP | 0.4591 | 0.0100 | pay 0.0013% / 1h | 26m 22s | $127K | $269K | 10x |
| Short | Lighter WLD | 0.4590 | 0.0984 | get 0.0123% / 1h | 26m 22s | $5.2M | $2.1M | 10x |
Backpack WLD_USDC_PERP
Lighter WLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $185.64
- Price spread: −0.009% → +0.111%
- −$11.98
- Slippage, 4 orders
- −$30.61
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $133.06
- Costs to cover
- 0.406%
- Break-even
- 2.0 days
Slippage from Backpack: live order book, 57 min ago; Lighter: live order book, 6 min ago.
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 Backpack live order book, 57 min ago | 0.44 bp | 6.4 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 6 min ago | 5.46 bp | 10.9 bp −$11 | 38.9 bp −$389 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXWLDPERP | −0.0340% | 8h | 0.4581 | −0.211% | $61K | $3.8M | 1.7x | as long as short |
| Injective WLD/USDC PERP | −0.0079% | 1h | 0.4623 | +0.704% | $6K | $185K | 5.5x | as long as short |
| Orderly PERP_WLD_USDC | −0.0001% | 8h | 0.4582 | −0.190% | $28K | $913K | 10x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4582 | −0.185% | $163K | $13K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4590 | −0.015% | $108K | $900K | 25x | as long as short |
| KuCoin WLDUSDTM | +0.0002% | 8h | 0.4582 | −0.190% | $7.0M | $10.8M | 50x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4583 | −0.163% | $57K | — | 150x | as long as short |
| Nado WLD-PERP | +0.0054% | 1h | 0.4578 | −0.266% | $276K | $169K | 5x | as long as short |
| Variational Omni WLD | +0.0063% | 8h | 0.4562 | −0.627% | $2.1M | $1.6M | — | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4582 | −0.195% | $203K | $986K | 50x | as long as short |
Kalshi KXWLDPERP
Injective WLD/USDC PERP
Orderly PERP_WLD_USDC
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
KuCoin WLDUSDTM
gTrade (Gains Network) WLD/USD
Nado WLD-PERP
Variational Omni WLD
Aster WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica WLD | +0.0100% | 1h | 0.4587 | −0.071% | $53K | $481K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4582 | −0.186% | $86.6M | $297.3M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4583 | −0.168% | $65.6M | $81.9M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4582 | −0.190% | $34.3M | $141.6M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4582 | −0.190% | $7.5M | $35.3M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4583 | −0.168% | $48.8M | $51.8M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4582 | −0.190% | $30.2M | $25.5M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4583 | −0.168% | — | $67.8M | — | as long as short |
| Backpack WLD_USDC_PERPlong | +0.0100% | 1h | 0.4591 | long leg | $127K | $269K | 10x | |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4567 | −0.508% | $27K | $314K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4579 | −0.245% | $615K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4573 | −0.386% | $55K | $227K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4585 | −0.126% | $47K | $1.6M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4596 | +0.115% | $23K | $1.5M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4590 | −0.015% | $204 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4586 | −0.102% | $866K | $1.8M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4590 | −0.015% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4579 | −0.261% | $239K | $855K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4592 | +0.022% | $31K | $5K | 3x | as long as short |
| Phoenix WLD | +0.0124% | 1h | 0.4562 | −0.623% | $5K | $53K | 10x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4582 | −0.181% | — | — | 20x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0186% | 1h | 0.4594 | +0.072% | $911K | $2.6M | 50x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4591 | +0.007% | $4.9M | $816K | 75x | as long as short |
| 01 Exchange WLDUSD | +0.0248% | 1h | 0.4586 | −0.111% | $328 | $77 | 5x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0260% / S −0.2221% | 1h | 0.4583 | −0.162% | $9K | — | 100x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0424% | 1h | 0.4579 | −0.255% | $270K | $1.6M | 50x | as long as short |
| Hyperliquid WLD | +0.0836% | 1h | 0.4588 | −0.052% | $49.9M | $43.2M | 10x | as long as short |
| Lighter WLDshort | +0.0984% | 1h | 0.4590 | −0.009% | $5.2M | $2.1M | 10x |
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDT
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Phoenix WLD
Reya WLDRUSDPERP
Kraken Futures PF_WLDUSD
BloFin WLD-USDT
01 Exchange WLDUSD
GMX WLD/USD [ETH-USDC]
Coinbase International WLD-PERP-INTX
Hyperliquid WLD