Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0034%/8h= +3.7% APRnext payment +$0.04 per $10,000 · paid last 24h —

Price spread now: Reya against Backpack+0.056%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Reya is 0.056% dearer against Backpack than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4642	0.0100	pay 0.0013% / 1h	30m 46s	$137K	$293K	10x
Short	Reya WLDRUSDPERP	0.4644	0.0134	get 0.0017% / 1h	30m 46s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.056%Rate

Funding earned: $7.11
Price spread: +0.056% → 0.000%: $5.58
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$3.31
Costs to cover: 0.160%
Break-even: 10.3 days

Slippage unknown: Backpack: live order book, 38 min ago; Reya: no order-book sample. 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, 38 min ago	0.42 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

WLD on 37 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
Injective WLD/USDC PERP	−0.0235%	1h	0.4615	−0.575%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0159%	8h	0.4650	+0.179%	$38K	$4.4M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0047%	8h	0.4637	−0.101%	$7.0M	$11.5M	50x	as long as short
Nado WLD-PERP	−0.0011%	1h	0.4648	+0.146%	$270K	$178K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4649	+0.163%	$159K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4647	+0.114%	$128K	$910K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4646	+0.088%	$56K	—	150x	as long as short
Gate WLD_USDT	+0.0041%	8h	0.4639	−0.058%	$7.3M	$37.4M	75x	as long as short
ApeX Omni WLDUSDT	+0.0047%	1h	0.4642	+0.006%	$51K	$240K	50x	as long as short
Orderly PERP_WLD_USDC	+0.0057%	8h	0.4645	+0.071%	$28K	$897K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix WLD	+0.0068%	1h	0.4631	−0.224%	$5K	$54K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4645	+0.063%	$178K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4647	+0.123%	$57K	$509K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4650	+0.169%	$88.3M	$323.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4650	+0.179%	$66.4M	$86.8M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4650	+0.179%	$35.0M	$151.4M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4649	+0.157%	$46.9M	$55.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4651	+0.200%	$30.9M	$29.0M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4651	+0.200%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4642	long leg	$137K	$293K	10x
Variational Omni WLD	+0.0100%	8h	0.4652	+0.217%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4639	−0.049%	$28K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4634	−0.164%	$608K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4648	+0.129%	$50K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4650	+0.179%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4644	+0.050%	$224	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4644	+0.050%	$879K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4641	−0.015%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4640	−0.041%	$214K	$883K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4647	+0.123%	$32K	$600	3x	as long as short
Reya WLDRUSDPERPshort	+0.0134%	1h	0.4644	+0.056%	—	—	20x
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4643	+0.032%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4652	+0.224%	$333	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4654	+0.265%	$276K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0580%	1h	0.4647	+0.123%	$51.9M	$44.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0644%	1h	0.4647	+0.118%	$908K	$2.8M	50x	as long as short
Lighter WLD	+0.0848%	1h	0.4651	+0.190%	$5.3M	$2.1M	10x	as long as short