Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1012%/8h= +110.8% APRpaid last 24h +0.061%

Price spread now: Lighter against Phemex+0.197%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1261.261% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.273%−$27 · spread now +0.197%, 7d avg +0.116%

Together, before fees−0.212%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$30 a day on $10k at the current rate, and Lighter is 0.081% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.116%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment. 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	Phemex WLDUSDT	0.4579	0.0100	pay 0.0100% / 8h	7h 50m	$1.8M	$3.7M	50x
Short	Lighter WLD	0.4588	0.1112	get 0.0139% / 1h	50m 21s	$5.2M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phemex. 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 PhemexbpFee LighterbpOrdersPrice spread, now +0.197%Rate

Funding earned: $212.52
Price spread: +0.197% → +0.116%: $8.09
Slippage, 4 orders: −$114.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $94.49
Costs to cover: 1.261%
Break-even: 3.9 days

Slippage from Phemex: live order book, 3 min ago; Lighter: 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 Phemex live order book, 3 min ago	14.17 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	6.95 bp	10.9 bp −$11	33.7 bp −$337	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	−0.0203%	8h	0.4577	−0.044%	$63K	$3.9M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0003%	8h	0.4585	+0.131%	$7.0M	$11.0M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4578	−0.026%	$163K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4579	0.000%	$123K	$861K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4584	+0.113%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0006%	1h	0.4589	+0.218%	$276K	$169K	5x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4597	+0.393%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0041%	8h	0.4577	−0.044%	$28K	$904K	10x	as long as short
Gate WLD_USDT	+0.0048%	8h	0.4584	+0.109%	$7.5M	$35.1M	75x	as long as short
ApeX Omni WLDUSDT	+0.0070%	1h	0.4594	+0.328%	$54K	$229K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4588	+0.193%	$192K	$984K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4580	+0.021%	$54K	$487K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4585	+0.133%	$86.6M	$303.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4580	+0.022%	$65.6M	$82.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4577	−0.044%	$34.3M	$143.2M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4589	+0.218%	$46.5M	$53.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4580	+0.022%	$30.3M	$26.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4586	+0.153%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4577	−0.035%	$136K	$282K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4581	+0.039%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4590	+0.246%	$27K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4597	+0.393%	$610K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4590	+0.229%	$48K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4587	+0.175%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4581	+0.044%	$217	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4577	−0.044%	$852K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4579	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4577	−0.054%	$231K	$847K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4579	−0.003%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4587	+0.181%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4593	+0.306%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4583	+0.087%	$4.9M	$821K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4584	+0.103%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4592	+0.295%	$329	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0329%	1h	0.4583	+0.082%	$903K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4586	+0.153%	$274K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0729%	1h	0.4596	+0.365%	$51.0M	$43.4M	10x	as long as short
Lighter WLDshort	+0.1112%	1h	0.4588	+0.197%	$5.2M	$2.0M	10x