Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Backpack against ApeX Omni−0.341%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.341%, 7d avg −0.036%

Together, before fees+0.055%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.306% cheaper against ApeX Omni than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni WLDUSDT	0.4544	0.0100	pay 0.0013% / 1h	13m 18s	$48K	$241K	50x
Short	Backpack WLD_USDC_PERP	0.4528	0.0100	get 0.0013% / 1h	13m 18s	$134K	$305K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.341%Rate

Funding earned: $0
Price spread: −0.341% → −0.036%: −$30.56
Slippage, 4 orders: −$24.65
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$75.21
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 38 min ago; Backpack: live order book, 40 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 ApeX Omni live order book, 38 min ago	6.52 bp	14.5 bp −$15	113.7 bp −$1,137	doesn't fit	doesn't fit
Sell Backpack live order book, 40 min ago	0.43 bp	9.5 bp −$9	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
Nado WLD-PERP	−0.0025%	1h	0.4527	−0.374%	$240K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4528	−0.359%	$154K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4538	−0.132%	$66K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4528	−0.352%	$118K	$988K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4528	−0.357%	$65K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0032%	8h	0.4526	−0.396%	$6.8M	$11.8M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4527	−0.374%	$28K	$868K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4530	−0.302%	$212K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4528	−0.362%	$50K	$526K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4527	−0.374%	$86.3M	$331.6M	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	0.4526	−0.396%	$64.4M	$90.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4527	−0.374%	$34.2M	$151.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4527	−0.374%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4529	−0.330%	$40.6M	$55.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4525	−0.418%	$29.8M	$30.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4528	−0.352%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4528	−0.341%	$134K	$305K	10x
Variational Omni WLD	+0.0100%	8h	0.4533	−0.249%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4538	−0.130%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4539	−0.110%	$602K	$2.0M	10x	as long as short
ApeX Omni WLDUSDTlong	+0.0100%	1h	0.4544	long leg	$48K	$241K	50x
Polymarket Perps WLD-USD	+0.0100%	1h	0.4526	−0.407%	$41K	$2.2M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4532	−0.264%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4526	−0.396%	$207	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4529	−0.330%	$828K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4528	−0.352%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4523	−0.458%	$214K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4527	−0.374%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4526	−0.390%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4538	−0.132%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4532	−0.255%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4524	−0.440%	$4.8M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4528	−0.360%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0280%	1h	0.4526	−0.394%	$324	$55	5x	as long as short
Hyperliquid WLD	+0.0338%	1h	0.4532	−0.271%	$49.4M	$43.7M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0524%	1h	0.4528	−0.353%	$869K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4532	−0.264%	$263K	$1.6M	50x	as long as short
Lighter WLD	+0.0800%	1h	0.4531	−0.284%	$4.9M	$2.9M	10x	as long as short