Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.001%

Price spread now: BingX against Backpack−0.090%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.090% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4644	0.0128	pay 0.0016% / 1h	45m 12s	$138K	$290K	10x
Short	BingX WLD-USDT	0.4640	0.0100	get 0.0100% / 8h	5h 45m	—	$67.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$5.8
Price spread: −0.090% → 0.000%: −$9.04
Slippage, 4 orders: −$12.64
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.49
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Backpack: live order book, 18 min ago; BingX: live order book, 9 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, 18 min ago	0.86 bp	6.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	1.08 bp	7.9 bp −$8	12.5 bp −$125	25.7 bp −$2,566	97.2 bp −$48.6K

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	−0.0143%	8h	0.4624	−0.435%	$58K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0040%	8h	0.4636	−0.177%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4634	−0.226%	$165K	$26K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4637	−0.161%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0065%	1h	0.4638	−0.133%	$268K	$187K	5x	as long as short
Orderly PERP_WLD_USDC	+0.0071%	8h	0.4639	−0.112%	$28K	$893K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4639	−0.113%	$178K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4635	−0.207%	$51K	$508K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4641	−0.069%	$88.1M	$324.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4639	−0.112%	$66.3M	$87.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4640	−0.090%	$35.0M	$149.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4639	−0.112%	$7.3M	$36.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4641	−0.069%	$45.6M	$54.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4639	−0.112%	$30.7M	$29.4M	75x	as long as short
BingX WLD-USDTshort	+0.0100%	8h	0.4640	−0.090%	—	$67.1M	—
Variational Omni WLD	+0.0100%	8h	0.4628	−0.355%	$2.1M	$1.8M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4611	−0.719%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4615	−0.628%	$611K	$1.8M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4615	−0.629%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4640	−0.088%	$54K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4646	+0.039%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4639	−0.112%	$292	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4641	−0.069%	$848K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4641	−0.069%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4636	−0.175%	$213K	$927K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4640	−0.094%	$31K	$600	3x	as long as short
Backpack WLD_USDC_PERPlong	+0.0128%	1h	0.4644	long leg	$138K	$290K	10x
Reya WLDRUSDPERP	+0.0134%	1h	0.4639	−0.113%	—	—	20x	as long as short
Phoenix WLD	+0.0172%	1h	0.4626	−0.396%	$5K	$57K	10x	as long as short
01 Exchange WLDUSD	+0.0176%	1h	0.4640	−0.095%	$332	$80	5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0181%	1h	0.4640	−0.090%	$120K	$923K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4642	−0.047%	—	$806K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4636	−0.178%	$5K	—	100x	as long as short
Lighter WLD	+0.0464%	1h	0.4647	+0.071%	$5.1M	$2.3M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4626	−0.392%	$276K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0554%	1h	0.4648	+0.080%	$51.7M	$42.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4650	+0.125%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0892%	1h	0.4641	−0.072%	$904K	$2.9M	50x	as long as short