Funding you earn now, next payment 02:00 UTC−0.0692%/8h= −75.8% APRnext payment −$0.87 per $10,000 · paid last 24h −0.076%
Price spread now: Backpack against Lighter−0.158%7-day average −0.117% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$420.419% of the position
Funding, last 7 days−0.105%−$11 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.158%, 7d avg −0.117%
=Together, before fees−0.163%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Backpack is 0.041% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.117%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.87 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 | Lighter WLD | 0.4678 | 0.0792 | pay 0.0099% / 1h | 21m 49s | $5.3M | $2.1M | 10x |
| Short | Backpack WLD_USDC_PERP | 0.4670 | 0.0100 | get 0.0013% / 1h | 21m 49s | $138K | $294K | 10x |
Lighter WLD
Backpack WLD_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$145.32
- Price spread: −0.158% → −0.117%
- −$4.12
- Slippage, 4 orders
- −$31.88
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$191.32
- Costs to cover
- 0.419%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Backpack: live order book, 46 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 Lighter live order book, 6 min ago | 6.36 bp | 18.4 bp −$18 | 43.9 bp −$439 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 46 min ago | 0.42 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
WLD on 37 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective WLD/USDC PERP | −0.0235% | 1h | 0.4615 | −1.338% | $6K | $185K | 5.5x | as long as short |
| Kalshi KXWLDPERP | −0.0150% | 8h | 0.4680 | +0.051% | $46K | $4.4M | 1.7x | as long as short |
| KuCoin WLDUSDTM | −0.0050% | 8h | 0.4667 | −0.227% | $7.1M | $11.5M | 50x | as long as short |
| Nado WLD-PERP | −0.0003% | 1h | 0.4681 | +0.062% | $272K | $189K | 5x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4667 | −0.236% | $166K | $26K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4673 | −0.098% | $121K | $917K | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4673 | −0.098% | $56K | — | 150x | as long as short |
| Gate WLD_USDT | +0.0040% | 8h | 0.4663 | −0.312% | $7.3M | $37.7M | 75x | as long as short |
| Orderly PERP_WLD_USDC | +0.0059% | 8h | 0.4672 | −0.120% | $28K | $897K | 10x | as long as short |
| Phoenix WLD | +0.0068% | 1h | 0.4715 | +0.791% | $5K | $54K | 10x | as long as short |
Injective WLD/USDC PERP
Kalshi KXWLDPERP
KuCoin WLDUSDTM
Nado WLD-PERP
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
Gate WLD_USDT
Orderly PERP_WLD_USDC
Phoenix WLDShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster WLDUSDT | +0.0100% | 8h | 0.4665 | −0.266% | $179K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4667 | −0.234% | $56K | $506K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4666 | −0.248% | $88.7M | $325.1M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4666 | −0.248% | $66.6M | $87.8M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4668 | −0.205% | $35.2M | $152.7M | 50x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4668 | −0.205% | $46.3M | $55.9M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4665 | −0.269% | $31.0M | $29.4M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4664 | −0.291% | — | $67.7M | — | as long as short |
| Backpack WLD_USDC_PERPshort | +0.0100% | 1h | 0.4670 | −0.158% | $138K | $294K | 10x | |
| Variational Omni WLD | +0.0100% | 8h | 0.4705 | +0.580% | $2.1M | $1.7M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4708 | +0.639% | $28K | $316K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4686 | +0.180% | $622K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4695 | +0.372% | $51K | $235K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4684 | +0.141% | $55K | $2.1M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4697 | +0.415% | $23K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4668 | −0.205% | $226 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4668 | −0.205% | $884K | $1.9M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4669 | −0.184% | $1.9M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4658 | −0.424% | $215K | $886K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4672 | −0.109% | $32K | $600 | 3x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4681 | +0.067% | — | — | 20x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0230% / S −0.1268% | 1h | 0.4673 | −0.109% | $5K | — | 100x | as long as short |
| 01 Exchange WLDUSD | +0.0264% | 1h | 0.4683 | +0.109% | $335 | $77 | 5x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0456% | 1h | 0.4684 | +0.137% | $279K | $1.7M | 50x | as long as short |
| Hyperliquid WLD | +0.0561% | 1h | 0.4674 | −0.086% | $52.0M | $44.1M | 10x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0640% | 1h | 0.4673 | −0.096% | $911K | $2.9M | 50x | as long as short |
| Lighter WLDlong | +0.0792% | 1h | 0.4678 | long leg | $5.3M | $2.1M | 10x |
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDT
OKX WLD-USDT-SWAP
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDT
Variational Omni WLD
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
Reya WLDRUSDPERP
GMX WLD/USD [ETH-USDC]
01 Exchange WLDUSD
Coinbase International WLD-PERP-INTX
Hyperliquid WLD
Kraken Futures PF_WLDUSD