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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: ApeX Omni against Backpack−0.048%7-day average +0.037% · 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−$58as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 3 days (all we have)+0.319%+$32 · spread now −0.048%, 7d avg +0.037%

Together, before fees+0.350%+$35 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: ApeX Omni is 0.085% cheaper against Backpack than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4551	0.0100	pay 0.0013% / 1h	50m 38s	$129K	$269K	10x
Short	ApeX Omni WLDUSDT	0.4549	0.0100	get 0.0013% / 1h	50m 38s	$55K	$227K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.037%: −$8.54
Slippage, 4 orders: −$29.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$58.03
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from Backpack: live order book, 33 min ago; ApeX Omni: live order book, 31 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 Backpack live order book, 33 min ago	0.44 bp	6.4 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 31 min ago	6.60 bp	14.9 bp −$15	94.4 bp −$944	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	−0.0444%	8h	0.4551	−0.004%	$44K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−0.642%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0010%	8h	0.4548	−0.070%	$28K	$915K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4557	+0.129%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4549	−0.048%	$121K	$901K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4547	−0.084%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0006%	8h	0.4555	+0.083%	$7.0M	$10.7M	50x	as long as short
Variational Omni WLD	+0.0035%	8h	0.4542	−0.200%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0089%	1h	0.4545	−0.147%	$272K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4553	+0.049%	$213K	$973K	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	0.4559	+0.164%	$51K	$481K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4558	+0.141%	$85.9M	$293.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4556	+0.105%	$64.9M	$80.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4556	+0.105%	$34.1M	$139.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4552	+0.018%	$7.4M	$34.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4558	+0.149%	$57.9M	$49.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4558	+0.149%	$30.2M	$25.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4556	+0.105%	—	$68.0M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4551	long leg	$129K	$269K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4550	−0.019%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4557	+0.127%	$611K	$1.9M	10x	as long as short
ApeX Omni WLDUSDTshort	+0.0100%	1h	0.4549	−0.048%	$55K	$227K	50x
Polymarket Perps WLD-USD	+0.0100%	1h	0.4547	−0.101%	$46K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4553	+0.040%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4546	−0.114%	$198	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4548	−0.070%	$859K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4547	−0.092%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4547	−0.085%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4548	−0.070%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4556	+0.112%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4544	−0.154%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0187%	1h	0.4552	+0.019%	$922K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4551	−0.004%	$4.8M	$814K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0255% / S −0.2169%	1h	0.4547	−0.088%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0264%	1h	0.4551	−0.007%	$326	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4531	−0.444%	$277K	$1.6M	50x	as long as short
Lighter WLD	+0.0920%	1h	0.4568	+0.380%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLD	+0.1161%	1h	0.4567	+0.338%	$49.0M	$42.4M	10x	as long as short