Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.086%

Price spread now: SunX against Lighter+0.091%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$960.959% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now +0.091%, 7d avg +0.014%

Together, before fees+0.008%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.077% dearer against Lighter than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.014%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WLD	0.4528	0.0144	pay 0.0018% / 1h	50m 59s	$4.9M	$2.8M	10x
Short	SunX WLD-USDT	0.4532	0.0100	get 0.0100% / 8h	50m 59s	$22K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$9.24
Price spread: +0.091% → +0.014%: $7.7
Slippage, 4 orders: −$87.92
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$97.46
Costs to cover: 0.959%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; SunX: 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, 7 min ago	1.33 bp	5.1 bp −$5	24.6 bp −$246	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	29.76 bp	48.1 bp −$48	doesn't fit	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
Injective WLD/USDC PERP	−0.0309%	1h	0.4524	−0.086%	$6K	$185K	5.5x	as long as short
Nado WLD-PERP	−0.0046%	1h	0.4526	−0.031%	$236K	$167K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4528	−0.006%	$154K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4526	−0.042%	$56K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4523	−0.108%	$140K	$979K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4526	−0.046%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4522	−0.130%	$27K	$726K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4528	−0.004%	$226K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4528	+0.005%	$49K	$534K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4525	−0.067%	$86.7M	$333.5M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4521	−0.152%	$64.3M	$89.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4520	−0.174%	$34.2M	$151.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4523	−0.108%	$7.1M	$35.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4522	−0.130%	$40.2M	$56.0M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4521	−0.152%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4521	−0.152%	$30.0M	$30.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4522	−0.130%	—	$69.7M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4523	−0.108%	$131K	$295K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4508	−0.447%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4520	−0.165%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4533	+0.105%	$598K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4516	−0.263%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4527	−0.015%	$53K	$2.7M	10x	as long as short
SunX WLD-USDTshort	+0.0100%	8h	0.4532	+0.091%	$22K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4522	−0.130%	$218	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4529	+0.024%	$828K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4522	−0.130%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4519	−0.207%	$208K	$945K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4523	−0.110%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4526	−0.037%	—	—	20x	as long as short
Lighter WLDlong	+0.0144%	1h	0.4528	long leg	$4.9M	$2.8M	10x
Phoenix WLD	+0.0177%	1h	0.4524	−0.095%	$5K	$43K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4523	−0.114%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4527	−0.020%	$4.8M	$908K	75x	as long as short
01 Exchange WLDUSD	+0.0240%	1h	0.4528	0.000%	$324	$55	5x	as long as short
Hyperliquid WLD	+0.0438%	1h	0.4528	−0.002%	$50.3M	$43.9M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4531	+0.068%	$272K	$1.6M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0457%	1h	0.4523	−0.118%	$869K	$2.8M	50x	as long as short