Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.023%

Price spread now: Variational Omni against Backpack−0.854%7-day average −0.071% · you buy dearer than you sell

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

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.626%+$63 · spread now −0.854%, 7d avg −0.071%

Together, before fees+0.604%+ Points / potential airdropVariational Omni: Active · farm board+$60 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: Variational Omni is 0.783% cheaper against Backpack than usual: you would sell low and buy high, −$78 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4578	0.0100	pay 0.0013% / 1h	31m 27s	$136K	$299K	10x
Short	Variational Omni WLD	0.4539	0.0100	get 0.0100% / 8h	4h 31m	$2.1M	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.854%Rate

Funding earned: $0
Price spread: −0.854% → −0.071%: −$78.26
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$88.26
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 27 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 27 min ago	1.21 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	5.50 bp	doesn't fit	20.9 bp −$209	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	−0.0104%	8h	0.4572	−0.127%	$52K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0050%	1h	0.4591	+0.288%	$243K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0021%	8h	0.4591	+0.288%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4590	+0.259%	$157K	$33K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4591	+0.285%	$67K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−0.738%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0090%	8h	0.4589	+0.245%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4596	+0.406%	$5.0M	$2.4M	10x	as long as short
01 Exchange WLDUSD	+0.0096%	1h	0.4595	+0.382%	$329	$80	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4584	+0.128%	$210K	$1.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4591	+0.291%	$49K	$528K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4591	+0.288%	$87.1M	$327.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4589	+0.245%	$65.3M	$89.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4587	+0.201%	$34.4M	$150.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4592	+0.310%	$7.2M	$36.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4593	+0.332%	$44.2M	$54.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4592	+0.310%	$30.3M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4592	+0.310%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4578	long leg	$136K	$299K	10x
Variational Omni WLDshort	+0.0100%	8h	0.4539	−0.854%	$2.1M	$1.7M	—
edgeX WLDUSDC	+0.0100%	4h	0.4550	−0.607%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4552	−0.564%	$600K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4566	−0.258%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4590	+0.273%	$46K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4581	+0.070%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4577	−0.017%	$176	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4568	−0.214%	$835K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4577	−0.017%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4590	+0.267%	$220K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4577	−0.007%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4591	+0.288%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4555	−0.505%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0187%	1h	0.4577	−0.017%	$118K	$927K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4570	−0.170%	$4.9M	$851K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1106%	1h	0.4591	+0.292%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0280%	1h	0.4598	+0.452%	$50.5M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0479%	1h	0.4580	+0.049%	$886K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4552	−0.564%	$267K	$1.7M	50x	as long as short