Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: SunX against Backpack−0.009%7-day average +0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1011.015% of the position

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.542%+$54 · spread now −0.009%, 7d avg +0.125%

Together, before fees+0.576%+$58 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: SunX is 0.134% cheaper against Backpack than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4556	0.0100	pay 0.0013% / 1h	39m 30s	$128K	$278K	10x
Short	SunX WLD-USDT	0.4556	0.0100	get 0.0100% / 8h	2h 39m	$23K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.125%: −$13.42
Slippage, 4 orders: −$83.45
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$114.87
Costs to cover: 1.015%
Break-even: never at this rate

Slippage from Backpack: live order book, 48 min ago; SunX: live order book, 5 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, 48 min ago	0.11 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	29.67 bp	46.2 bp −$46	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	−0.0586%	8h	0.4550	−0.140%	$26K	$3.8M	1.7x	as long as short
Variational Omni WLD	−0.0037%	8h	0.4543	−0.305%	$2.1M	$1.6M	—	as long as short
Orderly PERP_WLD_USDC	−0.0028%	8h	0.4551	−0.119%	$28K	$918K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4548	−0.190%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4553	−0.075%	$139K	$808K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4540	−0.360%	$56K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0012%	8h	0.4540	−0.360%	$7.1M	$10.7M	50x	as long as short
Phoenix WLD	+0.0052%	1h	0.4543	−0.292%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0056%	8h	0.4542	−0.316%	$34.1M	$137.4M	50x	as long as short
Nado WLD-PERP	+0.0057%	1h	0.4539	−0.371%	$271K	$168K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0094%	8h	0.4542	−0.316%	$65.4M	$79.8M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4549	−0.168%	$208K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4548	−0.177%	$50K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4542	−0.306%	$86.0M	$291.3M	75x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4541	−0.338%	$7.4M	$34.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4543	−0.294%	$52.7M	$47.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4541	−0.338%	$30.1M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4540	−0.360%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4556	long leg	$128K	$278K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4541	−0.337%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4543	−0.293%	$613K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4542	−0.316%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4542	−0.316%	$54K	$1.7M	10x	as long as short
SunX WLD-USDTshort	+0.0100%	8h	0.4556	−0.009%	$23K	$1.5M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4552	−0.097%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4548	−0.184%	$858K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4553	−0.075%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4539	−0.383%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4553	−0.067%	$31K	$5K	3x	as long as short
Hyperliquid WLD	+0.0126%	1h	0.4546	−0.228%	$47.1M	$40.6M	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4542	−0.310%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4551	−0.125%	$12K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4543	−0.294%	$5.0M	$800K	75x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.440%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4558	+0.035%	$285K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0504%	1h	0.4546	−0.239%	$325	$77	5x	as long as short
Lighter WLD	+0.1032%	1h	0.4559	+0.053%	$5.1M	$2.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1095%	1h	0.4555	−0.032%	$927K	$2.6M	50x	as long as short