Funding you earn now, next payment 03:00 UTC+0.0577%/8h= +63.1% APRnext payment +$0.72 per $10,000 · paid last 24h +0.026%
Price spread now: Injective against Backpack−0.708%72s7-day average +0.165% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.048%−$5 on $10k
+Price spread, last 4 days (all we have)+1.375%+$138 · spread now −0.708%, 7d avg +0.165%
=Funding pays, the price is against you. Injective is 0.873% cheaper against Backpack than usual: you would sell low and buy high (spread −0.708% now, against its 7-day average of +0.165%). If the spread goes back, that is −$87 on $10k: about 5.0 days of funding at the current rate (+$17 a day). The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.048% in total (about -2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.72 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 | 0.4649 | 0.0100 | pay 0.0013% / 1h | 19m 42s | $135K | $293K | 10x |
| Short | Injective WLD/USDC PERP | 0.4616 | 0.0677 | get 0.0085% / 1h | 19m 42s | $6K | $185K | 5.5x |
Backpack WLD_USDC_PERP
Injective WLD/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $121.1
- Price spread: −0.708% → +0.165%
- −$87.29
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $23.79
- Costs to cover
- 0.100%
- Break-even
- 5.6 days
Slippage unknown: Backpack: live order book, 44 min ago; Injective: live order book, 9 min ago. Net counts fees only.
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 Injective live order book, 9 min ago | 60.88 bp | doesn't fit | doesn't fit | 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 | −0.0126% | 8h | 0.4661 | +0.260% | $57K | $4.6M | 1.7x | as long as short |
| KuCoin WLDUSDTM | −0.0027% | 8h | 0.4646 | −0.062% | $7.1M | $11.6M | 50x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4655 | +0.133% | $166K | $26K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4652 | +0.067% | $120K | $918K | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4653 | +0.086% | $56K | — | 150x | as long as short |
| Nado WLD-PERP | +0.0012% | 1h | 0.4651 | +0.045% | $269K | $187K | 5x | as long as short |
| 01 Exchange WLDUSD | +0.0064% | 1h | 0.4651 | +0.047% | $333 | $80 | 5x | as long as short |
| Orderly PERP_WLD_USDC | +0.0075% | 8h | 0.4651 | +0.045% | $28K | $892K | 10x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4652 | +0.076% | $175K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4656 | +0.151% | $49K | $511K | 5x | as long as short |
Kalshi KXWLDPERP
KuCoin WLDUSDTM
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
Nado WLD-PERP
01 Exchange WLDUSD
Orderly PERP_WLD_USDC
Aster WLDUSDT
Pacifica WLDShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance WLDUSDT | +0.0100% | 8h | 0.4652 | +0.067% | $88.3M | $326.0M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4651 | +0.045% | $66.5M | $88.1M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4651 | +0.045% | $35.1M | $150.1M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4647 | −0.041% | $7.3M | $37.0M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4649 | +0.002% | $46.0M | $54.6M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4650 | +0.024% | $30.7M | $29.5M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4646 | −0.062% | — | $67.2M | — | as long as short |
| Backpack WLD_USDC_PERPlong | +0.0100% | 1h | 0.4649 | long leg | $135K | $293K | 10x | |
| Variational Omni WLD | +0.0100% | 8h | 0.4658 | +0.188% | $2.2M | $1.7M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4633 | −0.345% | $28K | $318K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4667 | +0.399% | $622K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4664 | +0.325% | $51K | $236K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4652 | +0.067% | $55K | $2.0M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4657 | +0.174% | $23K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4649 | +0.002% | $179 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4653 | +0.088% | $853K | $1.9M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4649 | +0.002% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4646 | −0.056% | $215K | $929K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4650 | +0.024% | $32K | $600 | 3x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4650 | +0.015% | — | — | 20x | as long as short |
| Lighter WLD | +0.0152% | 1h | 0.4658 | +0.202% | $5.1M | $2.3M | 10x | as long as short |
| Phoenix WLD | +0.0172% | 1h | 0.4661 | +0.250% | $5K | $57K | 10x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4661 | +0.260% | $5.0M | $809K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0230% / S −0.1268% | 1h | 0.4652 | +0.057% | $5K | — | 100x | as long as short |
| Hyperliquid WLD | +0.0475% | 1h | 0.4657 | +0.183% | $51.8M | $42.6M | 10x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0480% | 1h | 0.4666 | +0.368% | $276K | $1.7M | 50x | as long as short |
| Injective WLD/USDC PERPshort | +0.0677% | 1h | 0.4616 | −0.708% | $6K | $185K | 5.5x | |
| Kraken Futures PF_WLDUSD | +0.0890% | 1h | 0.4651 | +0.055% | $900K | $2.9M | 50x | as long as short |
Binance WLDUSDT
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDT
Variational Omni WLD
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Reya WLDRUSDPERP
Lighter WLD
Phoenix WLD
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
Hyperliquid WLD
Coinbase International WLD-PERP-INTX
Kraken Futures PF_WLDUSD