Spread before costs (cost unknown: a leg has no order-book sample)+0.574%
7d average—if it closes, per $10,000$57funding while held, a day+$5.60
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix WLD | 0.4393 | −0.0091 | get 0.0011% / 1h | 15m 40s | $2K | $60K | 10x |
| Short | Lighter WLD | 0.4418 | 0.0096 | get 0.0012% / 1h | 15m 40s | $4.8M | $1.2M | 10x |
Phoenix WLD
Lighter WLDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $57.36
- Funding while held
- $5.6
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $55.96
- Spread needed to break even
- 0.070%
Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0187%
- Per $10,000 a day
- +$5.60
- Average in range /8h
- —
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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 4 min ago | 4.09 bp | 13.0 bp −$13 | 44.1 bp −$441 | doesn't fit | doesn't fit |
Phoenix: 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 price on every exchange
against the cheapest. Click to use as the short leg.edgeX0.4384cheapestApeX Omni0.4385+0.025%
ApeX OmniPhoenix0.4393+0.210%
Variational Omni0.4408+0.544%OKX0.4410+0.595%Nado0.4410+0.606%Bybit0.4411+0.618%Bitget0.4411+0.618%BingX0.4411+0.618%Extended0.4412+0.640%MEXC0.4412+0.641%Pacifica0.4413+0.659%Binance0.4413+0.660%Hyperliquid0.4414+0.682%Gate0.4414+0.686%KuCoin0.4414+0.686%Phemex0.4414+0.686%BloFin0.4414+0.686%SunX0.4415+0.709%Aster0.4415+0.716%Polymarket Perps0.4415+0.721%Kalshi0.4416+0.732%SoDEX0.4416+0.732%01 Exchange0.4416+0.736%Reya0.4416+0.738%dYdX0.4417+0.750%Aevo0.4418+0.766%Backpack0.4418+0.768%Orderly0.4418+0.778%Coinbase International0.4418+0.778%HTX0.4418+0.778%
Variational Omni
OKX
Nado
Bybit
Bitget
BingX
Extended
MEXC
Pacifica
Binance
Hyperliquid
Gate
KuCoin
Phemex
BloFin
SunX
Aster
Polymarket Perps
SoDEX
Reya
dYdX
Aevo
Backpack
Orderly
Coinbase International
HTXLighter0.4418+0.784%
Deribit0.4420+0.823%Kraken Futures0.4422+0.879%gTrade (Gains Network)0.4423+0.897%GMX0.4424+0.911%Injective0.4426+0.960%
Deribit
Kraken Futures
gTrade (Gains Network)
GMX
InjectiveWLD on 37 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| edgeX WLDUSDC | −0.209% | +0.0100% | 4h | $26K | $315K | 20x | as long as short |
| ApeX Omni WLDUSDT | −0.184% | +0.0100% | 1h | $63K | $220K | 50x | as long as short |
| Phoenix WLDlong | 0.000% | −0.0091% | 1h | $2K | $60K | 10x | |
| Variational Omni WLD | +0.333% | −0.0199% | 8h | $2.0M | $1.6M | — | as long as short |
| OKX WLD-USDT-SWAP | +0.385% | −0.0013% | 8h | $34.5M | $130.9M | 50x | as long as short |
| Nado WLD-PERP | +0.396% | −0.0051% | 1h | $345K | $205K | 5x | as long as short |
| Bybit WLDUSDT | +0.407% | −0.0252% | 8h | $63.3M | $73.6M | 50x | as long as short |
| Bitget WLDUSDT | +0.407% | +0.0055% | 8h | $28.9M | $25.1M | 75x | as long as short |
| BingX WLD-USDC | +0.407% | +0.0051% | 8h | — | $1.3M | — | as long as short |
| Extended WLD-USD | +0.429% | +0.0016% | 1h | $134K | $574K | 10x | as long as short |
Show all 37 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| MEXC WLD_USDT | +0.430% | −0.0053% | 8h | $42.8M | $46.6M | 300x | as long as short |
| Pacifica WLD | +0.449% | +0.0100% | 1h | $58K | $495K | 5x | as long as short |
| Binance WLDUSDT | +0.450% | −0.0050% | 8h | $80.6M | $271.5M | 75x | as long as short |
| Hyperliquid WLD | +0.471% | +0.0100% | 1h | $45.0M | $38.5M | 10x | as long as short |
| Gate WLD_USDT | +0.476% | −0.0175% | 8h | $7.3M | $33.5M | 75x | as long as short |
| KuCoin WLDUSDTM | +0.476% | −0.0026% | 8h | $7.0M | $11.4M | 50x | as long as short |
| Phemex WLDUSDT | +0.476% | +0.0018% | 8h | $1.9M | $3.8M | 50x | as long as short |
| BloFin WLD-USDT | +0.476% | +0.0067% | 8h | $4.9M | $1.1M | 75x | as long as short |
| SunX WLD-USDT | +0.499% | +0.0100% | 8h | $22K | $1.4M | 50x | as long as short |
| Aster WLDUSDT | +0.505% | +0.0100% | 8h | $230K | $961K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.510% | +0.0100% | 1h | $48K | $1.7M | 10x | as long as short |
| Kalshi KXWLDPERP | +0.521% | −0.0129% | 8h | $94K | $3.4M | 1.7x | as long as short |
| SoDEX WLD-USD | +0.521% | +0.0100% | 1h | $192 | $5K | 10x | as long as short |
| 01 Exchange WLDUSD | +0.526% | +0.0016% | 1h | $316 | $77 | 5x | as long as short |
| Reya WLDRUSDPERP | +0.528% | +0.0134% | 1h | — | — | 20x | as long as short |
| dYdX WLD-USD | +0.540% | +0.0040% | 1h | $152K | $5K | 10x | as long as short |
| Aevo WLD-PERP | +0.556% | +0.0072% | 1h | $30K | $5K | 3x | as long as short |
| Backpack WLD_USDC_PERP | +0.558% | +0.0100% | 1h | $132K | $315K | 10x | as long as short |
| Orderly PERP_WLD_USDC | +0.567% | −0.0051% | 8h | $27K | $941K | 10x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.567% | +0.0216% | 1h | $265K | $1.6M | 50x | as long as short |
| HTX WLD-USDT | +0.567% | +0.0100% | 8h | $820K | $1.6M | 50x | as long as short |
| Lighter WLDshort | +0.574% | +0.0096% | 1h | $4.8M | $1.2M | 10x | |
| Deribit WLD_USDC-PERPETUAL | +0.612% | 0.0000% | 1h | $113K | $773K | 25x | as long as short |
| Kraken Futures PF_WLDUSD | +0.668% | +0.0008% | 1h | $894K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) WLD/USD | +0.686% | L +0.0003% / S −0.0003% | 1h | $57K | — | 150x | as long as short |
| GMX WLD/USD [ETH-USDC] | +0.700% | L +0.0186% / S −0.1014% | 1h | $5K | — | 100x | as long as short |
| Injective WLD/USDC PERP | +0.749% | +0.0353% | 1h | $6K | $194 | 5.5x | as long as short |