Wolves manager Dave Jones and chief executive Jez Moxey have been discussing a possible deal after Leeds agreed not to ask for their £800k transfer fee.
Duberry would be a straight replacement at Molineux for Paul Butler, who is to join Leeds on a two-year deal after turning down an offer of a new one-year contract from Wolves.
Leeds are also willing to subsidise Duberry's wages to try and push through a deal as he still has two years left on his contract at Elland Road.
They would continue to pay two thirds of his wages if he moves to Molineux.
Duberry would be a straight replacement at Molineux for Paul Butler, who is to join Leeds on a two-year deal after turning down an offer of a new one-year contract from Wolves.
Leeds are also willing to subsidise Duberry's wages to try and push through a deal as he still has two years left on his contract at Elland Road.
They would continue to pay two thirds of his wages if he moves to Molineux.