Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.082%

Price spread now: Phemex against Lighter−0.101%7-day average −0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$920.917% of the position

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.263%+$26 · spread now −0.101%, 7d avg −0.118%

Together, before fees+0.181%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4558	0.0096	pay 0.0012% / 1h	40m 06s	$4.9M	$2.4M	10x
Short	Phemex WLDUSDT	0.4553	0.0100	get 0.0100% / 8h	4h 40m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.101%Rate

Funding earned: $0.84
Price spread: −0.101% → −0.118%: $1.7
Slippage, 4 orders: −$79.68
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$89.14
Costs to cover: 0.917%
Break-even: 749.9 days

Slippage from Lighter: live order book, 13 min ago; Phemex: live order book, 4 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, 13 min ago	3.93 bp	4.1 bp −$4	31.1 bp −$311	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.19 bp	37.7 bp −$38	doesn't fit	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	−0.0105%	8h	0.4570	+0.272%	$57K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0062%	1h	0.4561	+0.075%	$242K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0032%	8h	0.4554	−0.079%	$6.9M	$11.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4567	+0.199%	$156K	$33K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4557	−0.013%	$118K	$927K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4556	−0.038%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4558	+0.009%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0056%	1h	0.4567	+0.195%	$327	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0086%	8h	0.4555	−0.057%	$28K	$888K	10x	as long as short
Lighter WLDlong	+0.0096%	1h	0.4558	long leg	$4.9M	$2.4M	10x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4562	+0.103%	$199K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4569	+0.261%	$49K	$528K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4550	−0.175%	$86.3M	$327.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4550	−0.167%	$64.9M	$88.9M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4552	−0.123%	$34.2M	$148.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4552	−0.123%	$7.2M	$36.8M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4552	−0.123%	$44.2M	$53.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4551	−0.145%	$30.1M	$30.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4553	−0.101%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4554	−0.081%	$135K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4554	−0.087%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4565	+0.164%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4565	+0.162%	$603K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4565	+0.162%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4559	+0.037%	$48K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4565	+0.162%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4554	−0.079%	$174	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4558	+0.009%	$834K	$1.9M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4553	−0.101%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4554	−0.083%	$218K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4557	−0.008%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4559	+0.035%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4569	+0.259%	$5K	$52K	10x	as long as short
Hyperliquid WLD	+0.0176%	1h	0.4557	−0.007%	$50.0M	$43.2M	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4562	+0.097%	$4.9M	$850K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4558	+0.008%	$5K	—	100x	as long as short
Kraken Futures PF_WLDUSD	+0.0481%	1h	0.4559	+0.029%	$882K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4575	+0.382%	$269K	$1.7M	50x	as long as short