Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0026%/8h= +2.9% APRnext payment +$0.03 per $10,000 · paid last 24h —

Price spread now: Lighter against Reya+0.023%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.023% dearer against Reya than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLDRUSDPERP	0.4533	0.0134	pay 0.0017% / 1h	21m 22s	—	—	20x
Short	Lighter WLD	0.4534	0.0160	get 0.0020% / 1h	21m 22s	$4.9M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now +0.023%Rate

Funding earned: $5.49
Price spread: +0.023% → 0.000%: $2.33
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.83
Costs to cover: 0.060%
Break-even: 4.7 days

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 7 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	7.13 bp	11.1 bp −$11	29.0 bp −$290	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0022%	1h	0.4531	−0.052%	$235K	$175K	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4525	−0.173%	$38K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4527	−0.129%	$117K	$991K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	−0.171%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4539	+0.136%	$27K	$563K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4536	+0.059%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4529	−0.077%	$56K	$553K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4538	+0.112%	$86.7M	$334.6M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4537	+0.092%	$64.2M	$89.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4539	+0.136%	$34.4M	$150.8M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDT	+0.0100%	8h	0.4537	+0.092%	$7.2M	$34.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4537	+0.092%	$41.8M	$56.8M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4531	−0.041%	$6.6M	$11.7M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4534	+0.026%	$29.9M	$31.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4537	+0.092%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4526	−0.140%	$131K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4470	−1.395%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4519	−0.313%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4524	−0.186%	$596K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4526	−0.151%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4533	+0.003%	$49K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4530	−0.063%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4525	−0.173%	$221	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4521	−0.261%	$829K	$1.4M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4526	−0.151%	$1.7M	$3.5M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4530	−0.055%	$214K	$907K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4540	+0.155%	$31K	$500	3x	as long as short
Hyperliquid WLD	+0.0106%	1h	0.4538	+0.107%	$50.3M	$43.0M	10x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.548%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERPlong	+0.0134%	1h	0.4533	long leg	—	—	20x
Lighter WLDshort	+0.0160%	1h	0.4534	+0.023%	$4.9M	$3.0M	10x
01 Exchange WLDUSD	+0.0160%	1h	0.4534	+0.034%	$324	$55	5x	as long as short
dYdX WLD-USD	+0.0186%	1h	0.4532	−0.013%	$155K	$31K	10x	as long as short
Phoenix WLD	+0.0194%	1h	0.4528	−0.116%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4528	−0.106%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4528	−0.107%	$4.4M	$935K	75x	as long as short
Kraken Futures PF_WLDUSD	+0.0303%	1h	0.4527	−0.127%	$897K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4530	−0.063%	$268K	$1.6M	50x	as long as short