Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.109%

Price spread now: KuCoin against Lighter−0.031%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$530.525% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 7 days−0.047%−$5 · spread now −0.031%, 7d avg −0.121%

Together, before fees−0.229%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.090% dearer against Lighter than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.121%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.7 days. At the pace of the last 7 days (−0.182% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4463	0.0096	pay 0.0012% / 1h	47m 02s	$4.8M	$3.0M	10x
Short	KuCoin WLDUSDTM	0.4462	0.0057	get 0.0057% / 8h	5h 47m	$6.6M	$10.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$8.19
Price spread: −0.031% → −0.121%: $8.97
Slippage, 4 orders: −$40.53
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$51.75
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; KuCoin: 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, 4 min ago	2.02 bp	5.9 bp −$6	25.1 bp −$251	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.12 bp	21.1 bp −$21	44.5 bp −$445	doesn't fit	doesn't fit

WLD on 38 exchanges

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
Kraken Futures PF_WLDUSD	−0.0193%	1h	0.4464	+0.015%	$857K	$2.6M	50x	as long as short
Nado WLD-PERP	−0.0143%	1h	0.4460	−0.071%	$234K	$159K	5x	as long as short
Bybit WLDUSDT	−0.0141%	8h	0.4459	−0.099%	$63.8M	$84.9M	50x	as long as short
Polymarket Perps WLD-USD	−0.0135%	1h	0.4459	−0.101%	$48K	$2.6M	10x	as long as short
Gate WLD_USDT	−0.0092%	8h	0.4458	−0.121%	$7.0M	$31.2M	75x	as long as short
01 Exchange WLDUSD	−0.0064%	1h	0.4460	−0.072%	$319	$55	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4465	+0.036%	$67K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4465	+0.036%	$101K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4458	−0.132%	$65K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	+0.305%	$6K	$185K	5.5x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX WLD-USD	+0.0009%	1h	0.4460	−0.080%	$152K	$31K	10x	as long as short
Phoenix WLD	+0.0053%	1h	0.4456	−0.155%	$4K	$40K	10x	as long as short
KuCoin WLDUSDTMshort	+0.0057%	8h	0.4462	−0.031%	$6.6M	$10.4M	50x
Variational Omni WLD	+0.0080%	8h	0.4450	−0.292%	$2.0M	$1.4M	—	as long as short
Orderly PERP_WLD_USDC	+0.0088%	8h	0.4463	−0.009%	$27K	$334K	10x	as long as short
Lighter WLDlong	+0.0096%	1h	0.4463	long leg	$4.8M	$3.0M	10x
Hyperliquid WLD	+0.0100%	1h	0.4464	+0.007%	$49.5M	$29.1M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4462	−0.028%	$210K	$884K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4464	+0.013%	$58K	$501K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4461	−0.054%	$84.7M	$313.4M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4460	−0.076%	$33.9M	$141.2M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4458	−0.121%	$41.7M	$54.5M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4460	−0.076%	$29.3M	$28.7M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4457	−0.143%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4460	−0.078%	$129K	$275K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4454	−0.206%	$27K	$322K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4459	−0.109%	$592K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4455	−0.188%	$59K	$242K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4468	+0.103%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4463	−0.009%	$232	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4458	−0.121%	$818K	$1.2M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4461	−0.054%	$1.7M	$3.5M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4458	−0.132%	$210K	$659K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4464	+0.008%	$30K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4462	−0.034%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0218% / S −0.0967%	1h	0.4464	+0.018%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4461	−0.054%	$4.8M	$907K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4464	+0.013%	$272K	$968K	50x	as long as short