Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0772%/8h= −84.5% APRpaid last 24h −0.097%

Price spread now: Bybit against Lighter−0.216%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 7 days+0.173%+$17 · spread now −0.216%, 7d avg −0.121%

Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Bybit is 0.096% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.121%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.177% in total (about -9.2% 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	Lighter WLD	0.4667	0.0872	pay 0.0109% / 1h	59m 30s	$5.3M	$2.1M	10x
Short	Bybit WLDUSDT	0.4657	0.0100	get 0.0100% / 8h	5h 59m	$66.7M	$87.8M	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 −0.216%Rate

Funding earned: −$162.12
Price spread: −0.216% → −0.121%: −$9.56
Slippage, 4 orders: −$38.71
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$221.4
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Bybit: 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, 8 min ago	7.79 bp	16.4 bp −$16	37.0 bp −$370	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.07 bp	12.0 bp −$12	23.2 bp −$232	98.3 bp −$9,831	doesn't fit

WLD on 37 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
Injective WLD/USDC PERP	−0.0235%	1h	0.4666	−0.024%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0136%	8h	0.4659	−0.174%	$70K	$4.4M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0037%	8h	0.4657	−0.216%	$7.1M	$11.5M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4655	−0.256%	$166K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4658	−0.195%	$119K	$922K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4657	−0.218%	$56K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0066%	8h	0.4657	−0.216%	$28K	$895K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4670	+0.069%	$5K	$54K	10x	as long as short
Nado WLD-PERP	+0.0091%	1h	0.4654	−0.270%	$270K	$189K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4663	−0.095%	$179K	$1.0M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4658	−0.195%	$51K	$510K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4660	−0.147%	$88.7M	$324.3M	75x	as long as short
Bybit WLDUSDTshort	+0.0100%	8h	0.4657	−0.216%	$66.7M	$87.8M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4656	−0.238%	$35.2M	$150.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4662	−0.109%	$7.3M	$36.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4655	−0.259%	$46.0M	$53.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4658	−0.195%	$31.0M	$29.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4663	−0.088%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4653	−0.309%	$137K	$290K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4667	−0.009%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4669	+0.046%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4675	+0.169%	$617K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4668	+0.019%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4659	−0.169%	$55K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4663	−0.088%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4657	−0.216%	$300	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4651	−0.345%	$850K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4655	−0.259%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4659	−0.165%	$215K	$889K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4662	−0.117%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4655	−0.255%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0192%	1h	0.4661	−0.131%	$333	$80	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4656	−0.231%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0329%	1h	0.4663	−0.090%	$51.9M	$43.4M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4677	+0.212%	$277K	$1.7M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0642%	1h	0.4660	−0.150%	$904K	$2.9M	50x	as long as short
Lighter WLDlong	+0.0872%	1h	0.4667	long leg	$5.3M	$2.1M	10x