Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.097%

Price spread now: OKX against Lighter−0.194%7-day average −0.128% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.187%−$19 on $10k

Price spread, last 7 days+0.204%+$20 · spread now −0.194%, 7d avg −0.128%

Together, before fees+0.016%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.066% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.128%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4544	0.0128	pay 0.0016% / 1h	18m 33s	$4.9M	$2.9M	10x
Short	OKX WLD-USDT-SWAP	0.4535	0.0100	get 0.0100% / 8h	1h 18m	$34.3M	$153.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.194%Rate

Funding earned: −$5.88
Price spread: −0.194% → −0.128%: −$6.61
Slippage, 4 orders: −$26.86
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$49.35
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; OKX: live order book, 5 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, 9 min ago	6.96 bp	11.9 bp −$12	29.2 bp −$292	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.10 bp	11.2 bp −$11	24.2 bp −$242	336.4 bp −$33.6K	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
Nado WLD-PERP	−0.0003%	1h	0.4540	−0.084%	$239K	$169K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4538	−0.126%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4540	−0.084%	$49K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4539	−0.106%	$151K	$956K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4541	−0.063%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0096%	8h	0.4536	−0.172%	$6.7M	$11.8M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4537	−0.150%	$27K	$762K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4539	−0.115%	$227K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4538	−0.125%	$49K	$538K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4538	−0.128%	$86.5M	$336.8M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4536	−0.172%	$64.6M	$90.5M	50x	as long as short
OKX WLD-USDT-SWAPshort	+0.0100%	8h	0.4535	−0.194%	$34.3M	$153.5M	50x
Gate WLD_USDT	+0.0100%	8h	0.4537	−0.150%	$7.1M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4537	−0.150%	$40.0M	$57.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4537	−0.150%	$29.9M	$31.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4536	−0.172%	—	$69.9M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4539	−0.103%	$135K	$296K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4537	−0.156%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4546	+0.053%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4547	+0.061%	$608K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4541	−0.062%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4538	−0.125%	$47K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4543	−0.018%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4538	−0.128%	$217	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4537	−0.150%	$830K	$1.6M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4538	−0.128%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4534	−0.207%	$210K	$1.0M	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4537	−0.143%	$31K	$500	3x	as long as short
Lighter WLDlong	+0.0128%	1h	0.4544	long leg	$4.9M	$2.9M	10x
Injective WLD/USDC PERP	+0.0132%	1h	0.4581	+0.819%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4537	−0.155%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0152%	1h	0.4538	−0.125%	$325	$55	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4548	+0.086%	$5K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4538	−0.135%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4539	−0.106%	$4.8M	$919K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4545	+0.026%	$274K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0552%	1h	0.4544	−0.002%	$49.9M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1043%	1h	0.4538	−0.123%	$871K	$2.9M	50x	as long as short