WLD

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0380%/8h= +41.6% APRnext payment +$0.48 per $10,000 · paid last 24h +0.062%

Price spread now: Coinbase International against Backpack+0.161%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$580.575% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 4 days (all we have)+0.483%+$48 · spread now +0.161%, 7d avg +0.037%

Together, before fees+0.526%+$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 0.124% dearer against Backpack than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.037%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4653	0.0100	pay 0.0013% / 1h	18m 59s	$135K	$293K	10x
Short	Coinbase International WLD-PERP-INTX	0.4661	0.0480	get 0.0060% / 1h	18m 59s	$276K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.161%Rate

Funding earned: $79.8
Price spread: +0.161% → +0.037%: $12.37
Slippage, 4 orders: −$37.53
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $34.64
Costs to cover: 0.575%
Break-even: 4.0 days

Slippage from Backpack: live order book, 44 min ago; Coinbase International: live order book, 5 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, 44 min ago	0.86 bp	6.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	7.50 bp	20.9 bp −$21	24.1 bp −$241	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	−0.0125%	8h	0.4652	−0.032%	$57K	$4.6M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0026%	8h	0.4651	−0.054%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4652	−0.041%	$166K	$26K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4658	+0.093%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0011%	1h	0.4656	+0.064%	$269K	$187K	5x	as long as short
01 Exchange WLDUSD	+0.0064%	1h	0.4654	+0.004%	$333	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0076%	8h	0.4658	+0.097%	$28K	$891K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4658	+0.095%	$175K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4653	−0.020%	$49K	$511K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4653	−0.017%	$88.3M	$326.0M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4650	−0.075%	$66.5M	$88.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4651	−0.054%	$35.1M	$150.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4651	−0.054%	$7.3M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4653	−0.011%	$46.0M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4652	−0.032%	$30.7M	$29.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4652	−0.032%	—	$67.2M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4653	long leg	$135K	$293K	10x
Variational Omni WLD	+0.0100%	8h	0.4658	+0.089%	$2.2M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4660	+0.132%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4667	+0.300%	$622K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4663	+0.204%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4658	+0.105%	$55K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4662	+0.183%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4656	+0.054%	$175	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4653	−0.011%	$853K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4654	+0.011%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4653	−0.005%	$214K	$929K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4656	+0.056%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4657	+0.066%	—	—	20x	as long as short
Lighter WLD	+0.0152%	1h	0.4660	+0.135%	$5.1M	$2.3M	10x	as long as short
Phoenix WLD	+0.0172%	1h	0.4661	+0.150%	$5K	$57K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0180%	1h	0.4658	+0.097%	$120K	$918K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4656	+0.054%	$5.0M	$808K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4658	+0.104%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0476%	1h	0.4660	+0.133%	$51.9M	$42.6M	10x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0480%	1h	0.4661	+0.161%	$276K	$1.7M	50x
Injective WLD/USDC PERP	+0.0677%	1h	0.4616	−0.806%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0889%	1h	0.4659	+0.111%	$902K	$2.9M	50x	as long as short