Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h −0.114%

Price spread now: Bybit against Lighter−0.136%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.305% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.179%−$18 on $10k

Price spread, last 7 days+0.139%+$14 · spread now −0.136%, 7d avg −0.124%

Together, before fees−0.040%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.124%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4477	0.0096	pay 0.0012% / 1h	53m 39s	$4.8M	$3.0M	10x
Short	Bybit WLDUSDT	0.4471	−0.0108	pay 0.0108% / 8h	5h 53m	$63.7M	$84.7M	50x

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 −0.136%Rate

Funding earned: −$42.93
Price spread: −0.136% → −0.124%: −$1.21
Slippage, 4 orders: −$19.53
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$74.67
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Bybit: live order book, 3 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, 7 min ago	2.11 bp	9.5 bp −$9	29.4 bp −$294	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.12 bp	9.5 bp −$10	18.2 bp −$182	102.7 bp −$10.3K	doesn't fit

WLD on 38 exchanges

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
Deribit WLD_USDC-PERPETUAL	−0.0197%	1h	0.4476	−0.025%	$102K	$1.1M	25x	as long as short
Kraken Futures PF_WLDUSD	−0.0193%	1h	0.4477	+0.002%	$874K	$2.6M	50x	as long as short
Nado WLD-PERP	−0.0120%	1h	0.4475	−0.058%	$235K	$159K	5x	as long as short
Polymarket Perps WLD-USD	−0.0114%	1h	0.4470	−0.154%	$48K	$2.6M	10x	as long as short
Bybit WLDUSDTshort	−0.0108%	8h	0.4471	−0.136%	$63.7M	$84.7M	50x
01 Exchange WLDUSD	−0.0080%	1h	0.4476	−0.018%	$320	$55	5x	as long as short
Gate WLD_USDT	−0.0072%	8h	0.4474	−0.069%	$7.0M	$31.0M	75x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4479	+0.042%	$51K	$4.2M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4475	−0.047%	$65K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	−0.002%	$6K	$185K	5.5x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX WLD-USD	+0.0014%	1h	0.4477	−0.005%	$153K	$31K	10x	as long as short
KuCoin WLDUSDTM	+0.0066%	8h	0.4471	−0.136%	$6.6M	$10.4M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0090%	8h	0.4473	−0.092%	$27K	$342K	10x	as long as short
Variational Omni WLD	+0.0094%	8h	0.4473	−0.084%	$2.1M	$1.4M	—	as long as short
Lighter WLDlong	+0.0096%	1h	0.4477	long leg	$4.8M	$3.0M	10x
Hyperliquid WLD	+0.0100%	1h	0.4476	−0.020%	$49.4M	$28.7M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4476	−0.030%	$210K	$884K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4475	−0.047%	$58K	$498K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4473	−0.091%	$85.1M	$311.5M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4472	−0.114%	$34.1M	$140.4M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4473	−0.092%	$42.5M	$54.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4475	−0.047%	$29.6M	$28.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4474	−0.069%	—	$55.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4476	−0.031%	$126K	$273K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4484	+0.149%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4488	+0.243%	$593K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4488	+0.243%	$59K	$242K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4480	+0.065%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4475	−0.047%	$231	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4473	−0.092%	$820K	$1.2M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4477	−0.002%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4474	−0.080%	$211K	$659K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4476	−0.025%	$30K	$500	3x	as long as short
Phoenix WLD	+0.0123%	1h	0.4492	+0.326%	$4K	$40K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4473	−0.093%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0218% / S −0.0967%	1h	0.4476	−0.027%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4482	+0.109%	$4.8M	$908K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4476	−0.025%	$272K	$974K	50x	as long as short