Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Pacifica against Backpack+0.284%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.284%, 7d avg +0.011%

Together, before fees−0.064%+ Points / potential airdropPacifica: Active · farm board−$6 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: Pacifica is 0.273% dearer against Backpack than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4602	0.0100	pay 0.0013% / 1h	39m 21s	$128K	$269K	10x
Short	Pacifica WLD	0.4615	0.0100	get 0.0013% / 1h	39m 21s	$52K	$480K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.284%Rate

Funding earned: $0
Price spread: +0.284% → +0.011%: $27.29
Slippage, 4 orders: −$25.66
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$16.37
Costs to cover: 0.437%
Break-even: never at this rate

Slippage from Backpack: live order book, 44 min ago; Pacifica: live order book, 44 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	0.44 bp	6.4 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 44 min ago	2.20 bp	10.1 bp −$10	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	−0.0395%	8h	0.4623	+0.454%	$35K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−1.741%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0005%	8h	0.4621	+0.411%	$28K	$914K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4612	+0.213%	$157K	$6K	10x	as long as short
KuCoin WLDUSDTM	+0.0003%	8h	0.4619	+0.367%	$7.1M	$10.7M	50x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4623	+0.462%	$57K	—	150x	as long as short
Variational Omni WLD	+0.0046%	8h	0.4597	−0.111%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0060%	1h	0.4619	+0.378%	$278K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4620	+0.386%	$217K	$988K	50x	as long as short
Pacifica WLDshort	+0.0100%	1h	0.4615	+0.284%	$52K	$480K	5x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4611	+0.193%	$87.5M	$295.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4622	+0.432%	$66.2M	$81.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4622	+0.432%	$34.5M	$141.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4623	+0.454%	$7.6M	$35.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4623	+0.454%	$49.4M	$51.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4621	+0.411%	$30.5M	$25.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4622	+0.432%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4602	long leg	$128K	$269K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4598	−0.086%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4598	−0.089%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4597	−0.111%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4625	+0.498%	$47K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4623	+0.454%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4618	+0.345%	$203	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4616	+0.302%	$871K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4611	+0.193%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4619	+0.361%	$242K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4621	+0.402%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4595	−0.152%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4622	+0.432%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0183%	1h	0.4623	+0.454%	$108K	$890K	25x	as long as short
Kraken Futures PF_WLDUSD	+0.0184%	1h	0.4620	+0.379%	$927K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4616	+0.302%	$4.9M	$821K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4628	+0.554%	$331	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0261% / S −0.2221%	1h	0.4622	+0.427%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4623	+0.454%	$275K	$1.6M	50x	as long as short
Lighter WLD	+0.0904%	1h	0.4621	+0.415%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLD	+0.1131%	1h	0.4630	+0.600%	$50.5M	$42.9M	10x	as long as short