Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.024%

Price spread now: BloFin against Backpack+0.037%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 3 days (all we have)+0.207%+$21 · spread now +0.037%, 7d avg +0.004%

Together, before fees+0.364%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.033% dearer against Backpack than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4566	0.0100	pay 0.0013% / 1h	17m 03s	$129K	$270K	10x
Short	BloFin WLD-USDT	0.4568	0.0220	get 0.0220% / 8h	1h 17m	$4.9M	$812K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.037%Rate

Funding earned: $25.2
Price spread: +0.037% → +0.004%: $3.34
Slippage, 4 orders: −$19
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$12.45
Costs to cover: 0.410%
Break-even: 10.5 days

Slippage from Backpack: live order book, 1 min ago; BloFin: live order book, 7 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, 1 min ago	0.33 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	2.19 bp	9.7 bp −$10	11.3 bp −$113	28.5 bp −$2,855	97.4 bp −$48.7K

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	−0.0309%	8h	0.4571	+0.103%	$61K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4578	+0.256%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4574	+0.166%	$163K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4566	−0.007%	$107K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4565	−0.025%	$57K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0004%	8h	0.4565	−0.028%	$28K	$913K	10x	as long as short
KuCoin WLDUSDTM	+0.0006%	8h	0.4562	−0.094%	$7.0M	$10.8M	50x	as long as short
Nado WLD-PERP	+0.0052%	1h	0.4571	+0.103%	$275K	$169K	5x	as long as short
Variational Omni WLD	+0.0084%	8h	0.4578	+0.255%	$2.1M	$1.6M	—	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4568	+0.044%	$200K	$999K	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	0.4573	+0.155%	$53K	$481K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4566	−0.014%	$86.3M	$297.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4564	−0.050%	$65.3M	$82.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4562	−0.094%	$34.2M	$140.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4564	−0.050%	$7.4M	$35.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4565	−0.028%	$48.8M	$52.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4564	−0.050%	$30.1M	$25.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4565	−0.028%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4566	long leg	$129K	$270K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4580	+0.309%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4578	+0.258%	$615K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.300%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4571	+0.094%	$47K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4571	+0.103%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4565	−0.028%	$199	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4567	+0.015%	$862K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4566	−0.007%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4566	−0.015%	$240K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4566	−0.005%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4577	+0.241%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4566	+0.002%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0187%	1h	0.4568	+0.039%	$906K	$2.6M	50x	as long as short
BloFin WLD-USDTshort	+0.0220%	8h	0.4568	+0.037%	$4.9M	$812K	75x
01 Exchange WLDUSD	+0.0248%	1h	0.4575	+0.182%	$327	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4565	−0.021%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4575	+0.191%	$270K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0735%	1h	0.4572	+0.114%	$49.7M	$43.1M	10x	as long as short
Lighter WLD	+0.0968%	1h	0.4576	+0.221%	$5.2M	$2.1M	10x	as long as short