Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0884%/8h= +96.8% APRpaid last 24h +0.060%

Price spread now: Lighter against Variational Omni+0.224%7-day average +0.138% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 7 days−0.047%−$5 · spread now +0.224%, 7d avg +0.138%

Together, before fees+0.029%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Lighter is 0.086% dearer against Variational Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.138%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.076% in total (about 8.5% 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	Variational Omni WLD	0.4578	0.0084	pay 0.0084% / 8h	1h 19m	$2.1M	$1.6M	—
Short	Lighter WLD	0.4588	0.0968	get 0.0121% / 1h	19m 52s	$5.2M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.224%Rate

Funding earned: $185.56
Price spread: +0.224% → +0.138%: $8.61
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $194.17
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Lighter: live order book, 3 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 4 min ago	4.36 bp	doesn't fit	17.4 bp −$174	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.72 bp	6.7 bp −$7	36.5 bp −$365	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
Kalshi KXWLDPERP	−0.0315%	8h	0.4578	+0.002%	$61K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4623	+0.985%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4579	+0.032%	$163K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4578	+0.002%	$108K	$900K	25x	as long as short
Orderly PERP_WLD_USDC	+0.0002%	8h	0.4576	−0.042%	$28K	$913K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4579	+0.014%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0006%	8h	0.4577	−0.020%	$7.0M	$10.8M	50x	as long as short
Nado WLD-PERP	+0.0051%	1h	0.4577	−0.009%	$276K	$169K	5x	as long as short
Variational Omni WLDlong	+0.0084%	8h	0.4578	long leg	$2.1M	$1.6M	—
Aster WLDUSDT	+0.0100%	8h	0.4578	+0.003%	$200K	$998K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4579	+0.028%	$53K	$481K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4579	+0.023%	$86.6M	$297.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4580	+0.045%	$65.6M	$82.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4577	−0.020%	$34.2M	$141.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4577	−0.020%	$7.4M	$35.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4579	+0.023%	$49.0M	$52.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4575	−0.064%	$30.2M	$25.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4578	+0.002%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4578	+0.002%	$129K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4585	+0.147%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4592	+0.303%	$617K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4588	+0.220%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4579	+0.030%	$47K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4583	+0.111%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4576	−0.042%	$202	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4578	+0.002%	$864K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4577	−0.020%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4577	−0.018%	$240K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4577	−0.009%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4587	+0.203%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4576	−0.033%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0186%	1h	0.4580	+0.055%	$907K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4579	+0.023%	$4.9M	$814K	75x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4583	+0.115%	$328	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4578	−0.003%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4586	+0.176%	$270K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0762%	1h	0.4583	+0.102%	$49.8M	$43.1M	10x	as long as short
Lighter WLDshort	+0.0968%	1h	0.4588	+0.224%	$5.2M	$2.1M	10x