Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.021%

Price spread now: Bybit against Backpack+0.041%55s7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.357% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.041%, 7d avg −0.042%

Together, before fees−0.068%−$7 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: Bybit is 0.083% dearer against Backpack than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.042%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4662	0.0100	pay 0.0013% / 1h	11m 19s	$141K	$295K	10x
Short	Bybit WLDUSDT	0.4664	0.0100	get 0.0100% / 8h	6h 11m	$66.4M	$88.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → −0.042%: $8.25
Slippage, 4 orders: −$14.69
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.44
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Backpack: live order book, 57 min ago; Bybit: live order book, 3 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, 57 min ago	0.42 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.08 bp	10.6 bp −$11	19.5 bp −$195	81.3 bp −$8,132	doesn't fit

WLD on 37 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
Injective WLD/USDC PERP	−0.0235%	1h	0.4666	+0.084%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0142%	8h	0.4659	−0.066%	$62K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0046%	8h	0.4661	−0.024%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4661	−0.030%	$166K	$26K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4659	−0.069%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0007%	1h	0.4662	−0.002%	$271K	$189K	5x	as long as short
Gate WLD_USDT	+0.0056%	8h	0.4658	−0.088%	$7.3M	$38.0M	75x	as long as short
Orderly PERP_WLD_USDC	+0.0063%	8h	0.4664	+0.041%	$28K	$896K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4663	+0.015%	$5K	$54K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4662	−0.011%	$179K	$1.0M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4661	−0.024%	$53K	$511K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4664	+0.032%	$88.6M	$326.5M	75x	as long as short
Bybit WLDUSDTshort	+0.0100%	8h	0.4664	+0.041%	$66.4M	$88.1M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4665	+0.062%	$35.1M	$152.9M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4664	+0.041%	$46.0M	$56.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4663	+0.019%	$31.0M	$29.6M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4662	−0.002%	—	$67.6M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4662	long leg	$141K	$295K	10x
Variational Omni WLD	+0.0100%	8h	0.4649	−0.289%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4658	−0.083%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4658	−0.088%	$615K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4659	−0.066%	$51K	$235K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4661	−0.026%	$54K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4666	+0.084%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4665	+0.062%	$225	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4667	+0.105%	$883K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4664	+0.041%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4664	+0.037%	$215K	$889K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4667	+0.094%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4657	−0.105%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0179%	1h	0.4666	+0.084%	$121K	$918K	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4659	−0.065%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0280%	1h	0.4664	+0.051%	$334	$80	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4671	+0.191%	$275K	$1.8M	50x	as long as short
Hyperliquid WLD	+0.0550%	1h	0.4665	+0.056%	$51.9M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0641%	1h	0.4669	+0.140%	$908K	$2.9M	50x	as long as short
Lighter WLD	+0.0864%	1h	0.4674	+0.264%	$5.3M	$2.1M	10x	as long as short