Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.147%

Price spread now: Kalshi against Lighter−0.196%7-day average −0.229% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Lighter Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.399%−$40 on $10k

Price spread, last 7 days+0.129%+$13 · spread now −0.196%, 7d avg −0.229%

Together, before fees−0.270%+ Points / potential airdropLighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.033% dearer against Lighter than usual: you sell high and buy low (spread −0.196% now, against its 7-day average of −0.229%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4534	0.0160	pay 0.0020% / 1h	21m 34s	$4.9M	$3.0M	10x
Short	Kalshi KXWLDPERP	0.4525	0	get 0.0000% / 8h	3h 21m	$38K	$4.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.196%Rate

Funding earned: −$33.6
Price spread: −0.196% → −0.229%: $3.31
Slippage, 4 orders: −$43.56
Fee Lighter: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$83.85
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Kalshi: live order book, 2 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, 6 min ago	7.13 bp	8.6 bp −$9	32.0 bp −$320	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	1.11 bp	6.1 bp −$6	9.9 bp −$99	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
Nado WLD-PERP	−0.0022%	1h	0.4531	−0.075%	$235K	$175K	5x	as long as short
Kalshi KXWLDPERPshort	0.0000%	8h	0.4525	−0.196%	$38K	$4.6M	1.7x
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4527	−0.152%	$117K	$991K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	−0.194%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4527	−0.152%	$27K	$566K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4531	−0.058%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4529	−0.101%	$56K	$553K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4532	−0.032%	$86.6M	$334.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4531	−0.064%	$64.1M	$89.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4532	−0.042%	$34.4M	$150.5M	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	0.4529	−0.108%	$7.1M	$34.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4530	−0.086%	$41.7M	$56.7M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4526	−0.174%	$6.6M	$11.7M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4532	−0.042%	$29.9M	$31.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4530	−0.086%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4526	−0.163%	$131K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4470	−1.418%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4519	−0.337%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4524	−0.209%	$596K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4526	−0.174%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4523	−0.240%	$49K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4530	−0.086%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4525	−0.196%	$221	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4521	−0.285%	$829K	$1.4M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4526	−0.174%	$1.7M	$3.5M	50x	as long as short
Hyperliquid WLD	+0.0104%	1h	0.4533	−0.009%	$50.2M	$43.0M	10x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4530	−0.078%	$214K	$907K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4527	−0.150%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.571%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4522	−0.256%	—	—	20x	as long as short
Lighter WLDlong	+0.0160%	1h	0.4534	long leg	$4.9M	$3.0M	10x
01 Exchange WLDUSD	+0.0160%	1h	0.4534	+0.011%	$324	$55	5x	as long as short
dYdX WLD-USD	+0.0186%	1h	0.4532	−0.037%	$155K	$31K	10x	as long as short
Phoenix WLD	+0.0194%	1h	0.4493	−0.907%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4528	−0.129%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4528	−0.130%	$4.4M	$935K	75x	as long as short
Kraken Futures PF_WLDUSD	+0.0303%	1h	0.4527	−0.150%	$897K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4530	−0.086%	$268K	$1.6M	50x	as long as short