Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Gate against Backpack−0.053%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.053%, 7d avg −0.032%

Together, before fees−0.040%−$4 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: Gate is 0.020% cheaper against Backpack than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4570	0.0100	pay 0.0013% / 1h	34m 29s	$137K	$302K	10x
Short	Gate WLD_USDT	0.4568	0.0100	get 0.0100% / 8h	3h 34m	$7.3M	$36.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → −0.032%: −$2.01
Slippage, 4 orders: −$22.12
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.13
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from Backpack: live order book, 19 min ago; Gate: live order book, 4 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, 19 min ago	0.43 bp	6.5 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.09 bp	14.1 bp −$14	38.0 bp −$380	57.2 bp −$5,718	127.8 bp −$63.9K

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
Nado WLD-PERP	−0.0029%	1h	0.4560	−0.228%	$242K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4570	−0.017%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4569	−0.031%	$50K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4570	−0.009%	$124K	$959K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4571	+0.008%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0016%	8h	0.4567	−0.074%	$6.9M	$11.8M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4575	+0.095%	$210K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4571	+0.002%	$49K	$524K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4563	−0.153%	$87.0M	$329.6M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4562	−0.184%	$65.1M	$90.1M	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	0.4559	−0.249%	$34.6M	$151.1M	50x	as long as short
Gate WLD_USDTshort	+0.0100%	8h	0.4568	−0.053%	$7.3M	$36.4M	75x
MEXC WLD_USDT	+0.0100%	8h	0.4566	−0.096%	$43.2M	$54.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4559	−0.249%	$30.2M	$30.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4566	−0.096%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4570	long leg	$137K	$302K	10x
Variational Omni WLD	+0.0100%	8h	0.4568	−0.059%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4579	+0.187%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4570	−0.005%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.210%	$43K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4560	−0.234%	$40K	$2.1M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4569	−0.031%	$28K	$871K	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4575	+0.101%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4567	−0.074%	$206	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4567	−0.074%	$835K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4569	−0.031%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4564	−0.147%	$217K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4575	+0.101%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4558	−0.266%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.123%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4580	+0.210%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4568	−0.053%	$4.9M	$893K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4569	−0.021%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0320%	1h	0.4566	−0.103%	$327	$55	5x	as long as short
Hyperliquid WLD	+0.0457%	1h	0.4576	+0.120%	$50.3M	$43.4M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0520%	1h	0.4569	−0.033%	$886K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4575	+0.101%	$268K	$1.7M	50x	as long as short
Lighter WLD	+0.0824%	1h	0.4580	+0.212%	$5.1M	$2.6M	10x	as long as short