Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: MEXC against Backpack−0.071%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.071%, 7d avg −0.034%

Together, before fees+0.004%$0 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: MEXC is 0.038% cheaper against Backpack than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4617	0.0100	pay 0.0013% / 1h	30m 04s	$137K	$297K	10x
Short	MEXC WLD_USDT	0.4614	0.0100	get 0.0100% / 8h	4h 30m	$44.0M	$54.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.034%: −$3.8
Slippage, 4 orders: −$11.48
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$25.27
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Backpack: live order book, 28 min ago; MEXC: 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, 28 min ago	1.21 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.10 bp	1.8 bp −$2	7.1 bp −$71	25.6 bp −$2,564	76.5 bp −$38.2K

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	−0.0103%	8h	0.4603	−0.310%	$39K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0048%	1h	0.4601	−0.364%	$244K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0019%	8h	0.4614	−0.071%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4604	−0.284%	$157K	$33K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4604	−0.292%	$67K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−1.588%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0090%	8h	0.4605	−0.266%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4609	−0.188%	$5.0M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4598	−0.428%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4604	−0.289%	$49K	$528K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4613	−0.093%	$87.5M	$328.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4612	−0.115%	$65.6M	$89.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4613	−0.093%	$34.5M	$151.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4615	−0.050%	$7.2M	$36.9M	75x	as long as short
MEXC WLD_USDTshort	+0.0100%	8h	0.4614	−0.071%	$44.0M	$54.2M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4615	−0.050%	$30.5M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4616	−0.028%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4617	long leg	$137K	$297K	10x
Variational Omni WLD	+0.0100%	8h	0.4589	−0.619%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4550	−1.457%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4552	−1.414%	$600K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4566	−1.111%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4601	−0.355%	$46K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4612	−0.115%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4605	−0.266%	$177	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4605	−0.266%	$842K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4611	−0.136%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4613	−0.092%	$221K	$981K	10x	as long as short
01 Exchange WLDUSD	+0.0104%	1h	0.4608	−0.206%	$330	$80	5x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4608	−0.211%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4601	−0.353%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4555	−1.356%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4589	−0.613%	$4.9M	$833K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4603	−0.305%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0299%	1h	0.4623	+0.121%	$50.8M	$43.3M	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0402%	1h	0.4607	−0.223%	$119K	$927K	25x	as long as short
Kraken Futures PF_WLDUSD	+0.0476%	1h	0.4610	−0.165%	$892K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4613	−0.093%	$270K	$1.7M	50x	as long as short