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 −0.012%

Price spread now: Binance against Backpack−0.011%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now −0.011%, 7d avg −0.021%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4605	0.0100	pay 0.0013% / 1h	1m 20s	$130K	$269K	10x
Short	Binance WLDUSDT	0.4605	0.0100	get 0.0100% / 8h	1h 01m	$87.1M	$297.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.021%: $1.01
Slippage, 4 orders: −$11.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.48
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Backpack: live order book, 17 min ago; Binance: live order book, 12 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, 17 min ago	0.33 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	1.10 bp	7.2 bp −$7	14.1 bp −$141	48.9 bp −$4,890	181.9 bp −$90.9K

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	0.4604	−0.030%	$56K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4578	−0.595%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4605	−0.012%	$164K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4605	−0.009%	$109K	$883K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4605	−0.004%	$57K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0007%	8h	0.4604	−0.030%	$28K	$911K	10x	as long as short
KuCoin WLDUSDTM	+0.0010%	8h	0.4602	−0.074%	$7.0M	$10.8M	50x	as long as short
Nado WLD-PERP	+0.0049%	1h	0.4606	+0.002%	$277K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4606	+0.013%	$195K	$999K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4607	+0.025%	$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 WLDUSDTshort	+0.0100%	8h	0.4605	−0.011%	$87.1M	$297.7M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4604	−0.030%	$65.9M	$82.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4602	−0.074%	$34.5M	$142.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4604	−0.030%	$7.5M	$35.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4605	−0.009%	$49.5M	$52.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4603	−0.052%	$30.4M	$25.6M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4604	−0.030%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4605	long leg	$130K	$269K	10x
Variational Omni WLD	+0.0100%	8h	0.4593	−0.272%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4606	+0.007%	$27K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4606	+0.013%	$619K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4604	−0.030%	$55K	$228K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4606	+0.022%	$41K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4610	+0.100%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4604	−0.030%	$204	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4599	−0.139%	$868K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4602	−0.074%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4604	−0.028%	$238K	$858K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4611	+0.126%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4608	+0.067%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4602	−0.076%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0185%	1h	0.4608	+0.050%	$919K	$2.7M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4607	+0.035%	$4.9M	$821K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4611	+0.113%	$330	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4604	−0.030%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4608	+0.056%	$271K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0666%	1h	0.4610	+0.093%	$50.1M	$43.0M	10x	as long as short
Lighter WLD	+0.1072%	1h	0.4616	+0.237%	$5.2M	$2.1M	10x	as long as short