Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.017%

Price spread now: KuCoin against Backpack−0.071%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$610.615% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.071%, 7d avg −0.039%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and KuCoin is 0.032% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4488	0.0100	pay 0.0013% / 1h	59m 02s	$128K	$273K	10x
Short	KuCoin WLDUSDTM	0.4485	0.0077	get 0.0077% / 8h	5h 59m	$6.6M	$10.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$4.83
Price spread: −0.071% → −0.039%: −$3.21
Slippage, 4 orders: −$39.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$69.53
Costs to cover: 0.615%
Break-even: never at this rate

Slippage from Backpack: live order book, 52 min ago; KuCoin: 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, 52 min ago	2.45 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.12 bp	23.6 bp −$24	44.6 bp −$446	doesn't fit	doesn't fit

WLD on 38 exchanges

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
Polymarket Perps WLD-USD	−0.0299%	1h	0.4482	−0.129%	$49K	$2.6M	10x	as long as short
Kraken Futures PF_WLDUSD	−0.0192%	1h	0.4491	+0.055%	$876K	$2.6M	50x	as long as short
Bybit WLDUSDT	−0.0081%	8h	0.4487	−0.027%	$64.0M	$85.2M	50x	as long as short
Gate WLD_USDT	−0.0063%	8h	0.4486	−0.049%	$7.0M	$30.9M	75x	as long as short
01 Exchange WLDUSD	0.0000%	1h	0.4488	−0.002%	$321	$55	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4491	+0.062%	$53K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4489	+0.018%	$102K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4485	−0.081%	$65K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	−0.250%	$6K	$185K	5.5x	as long as short
Nado WLD-PERP	+0.0010%	1h	0.4489	+0.018%	$236K	$159K	5x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin WLDUSDTMshort	+0.0077%	8h	0.4485	−0.071%	$6.6M	$10.4M	50x
Orderly PERP_WLD_USDC	+0.0091%	8h	0.4488	−0.004%	$27K	$353K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4494	+0.123%	$4.9M	$3.0M	10x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4491	+0.067%	$49.6M	$30.0M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4490	+0.039%	$211K	$884K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4491	+0.062%	$58K	$498K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4488	−0.004%	$85.2M	$313.3M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4485	−0.071%	$34.2M	$141.4M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4488	−0.004%	$42.8M	$54.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4486	−0.049%	$29.7M	$28.7M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4485	−0.071%	—	$55.7M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4488	long leg	$128K	$273K	10x
Variational Omni WLD	+0.0100%	8h	0.4481	−0.150%	$2.1M	$1.4M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4484	−0.089%	$27K	$323K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4499	+0.249%	$594K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4485	−0.071%	$59K	$242K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4495	+0.152%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4488	−0.004%	$234	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4483	−0.116%	$822K	$1.2M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4489	+0.018%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4487	−0.026%	$212K	$659K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4489	+0.018%	$30K	$500	3x	as long as short
Phoenix WLD	+0.0123%	1h	0.4487	−0.020%	$4K	$40K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4486	−0.051%	—	—	20x	as long as short
dYdX WLD-USD	+0.0136%	1h	0.4491	+0.073%	$153K	$31K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4489	+0.023%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4489	+0.018%	$4.8M	$912K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4492	+0.085%	$273K	$980K	50x	as long as short