Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Backpack against Aster−0.009%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now −0.009%, 7d avg +0.013%

Together, before fees−0.145%+ Points / potential airdropAster: Stage 5 · farm board−$14 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 0.021% cheaper against Aster than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster WLDUSDT	0.4606	0.0100	pay 0.0100% / 8h	1h 02m	$195K	$999K	50x
Short	Backpack WLD_USDC_PERP	0.4606	0.0100	get 0.0013% / 1h	2m 45s	$130K	$269K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.013%: −$2.15
Slippage, 4 orders: −$20.85
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$41
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Aster: live order book, 15 min ago; Backpack: live order book, 16 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 Aster live order book, 15 min ago	1.09 bp	13.3 bp −$13	33.6 bp −$336	doesn't fit	doesn't fit
Sell Backpack live order book, 16 min ago	0.33 bp	8.5 bp −$8	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
Kalshi KXWLDPERP	−0.0269%	8h	0.4602	−0.087%	$56K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4578	−0.608%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4611	+0.117%	$165K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4606	0.000%	$109K	$883K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4604	−0.040%	$57K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0007%	8h	0.4605	−0.022%	$28K	$911K	10x	as long as short
KuCoin WLDUSDTM	+0.0009%	8h	0.4602	−0.087%	$7.0M	$10.8M	50x	as long as short
Nado WLD-PERP	+0.0050%	1h	0.4601	−0.098%	$277K	$169K	5x	as long as short
Aster WLDUSDTlong	+0.0100%	8h	0.4606	long leg	$195K	$999K	50x
Pacifica WLD	+0.0100%	1h	0.4611	+0.117%	$53K	$481K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4605	−0.020%	$87.1M	$297.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4604	−0.043%	$66.0M	$82.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4602	−0.087%	$34.5M	$142.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4604	−0.043%	$7.5M	$35.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4605	−0.022%	$49.6M	$52.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4604	−0.043%	$30.4M	$25.6M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4604	−0.043%	—	$67.7M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4606	−0.009%	$130K	$269K	10x
Variational Omni WLD	+0.0100%	8h	0.4593	−0.285%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4601	−0.105%	$27K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4606	0.000%	$619K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4586	−0.434%	$55K	$228K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4603	−0.063%	$41K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4607	+0.022%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4605	−0.022%	$201	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4605	−0.022%	$869K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4604	−0.043%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4604	−0.052%	$238K	$858K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4608	+0.049%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4597	−0.200%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4600	−0.133%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0185%	1h	0.4608	+0.049%	$919K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4607	+0.022%	$4.9M	$821K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4603	−0.054%	$329	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4603	−0.056%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4608	+0.043%	$271K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0669%	1h	0.4610	+0.096%	$50.1M	$43.0M	10x	as long as short
Lighter WLD	+0.1064%	1h	0.4615	+0.189%	$5.2M	$2.1M	10x	as long as short