Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Backpack against Binance+0.338%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)−0.408%−$41 · spread now +0.338%, 7d avg +0.019%

Together, before fees−0.332%−$33 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: Backpack is 0.320% dearer against Binance than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WLDUSDT	0.4648	0.0100	pay 0.0100% / 8h	6h 10m	$88.4M	$326.6M	75x
Short	Backpack WLD_USDC_PERP	0.4664	0.0100	get 0.0013% / 1h	10m 24s	$141K	$295K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.338%Rate

Funding earned: $0
Price spread: +0.338% → +0.019%: $31.96
Slippage, 4 orders: −$12.41
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$0.45
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Backpack: live order book, 58 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 Binance live order book, 3 min ago	1.07 bp	8.5 bp −$8	17.2 bp −$172	58.1 bp −$5,810	210.6 bp −$105.3K
Sell Backpack live order book, 58 min ago	0.42 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit

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	0.4666	+0.386%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0142%	8h	0.4659	+0.235%	$62K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0045%	8h	0.4649	+0.020%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4652	+0.086%	$166K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4642	−0.131%	$120K	$918K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4645	−0.069%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0008%	1h	0.4652	+0.084%	$270K	$189K	5x	as long as short
Gate WLD_USDT	+0.0060%	8h	0.4653	+0.106%	$7.3M	$38.0M	75x	as long as short
Orderly PERP_WLD_USDC	+0.0064%	8h	0.4642	−0.131%	$28K	$896K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4663	+0.317%	$5K	$54K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4655	+0.156%	$178K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4652	+0.084%	$53K	$511K	5x	as long as short
Binance WLDUSDTlong	+0.0100%	8h	0.4648	long leg	$88.4M	$326.6M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4642	−0.131%	$66.1M	$88.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4643	−0.109%	$35.0M	$152.0M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4653	+0.106%	$45.9M	$56.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4641	−0.152%	$30.8M	$29.6M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4643	−0.109%	—	$67.6M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4664	+0.338%	$141K	$295K	10x
Variational Omni WLD	+0.0100%	8h	0.4659	+0.228%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4658	+0.219%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4658	+0.213%	$615K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4659	+0.235%	$51K	$235K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4654	+0.123%	$54K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4648	−0.002%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4643	−0.109%	$221	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4667	+0.407%	$883K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4664	+0.343%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4641	−0.156%	$214K	$889K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4643	−0.118%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4651	+0.057%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4651	+0.057%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0280%	1h	0.4657	+0.203%	$333	$80	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4648	−0.002%	$273K	$1.8M	50x	as long as short
Hyperliquid WLD	+0.0549%	1h	0.4658	+0.220%	$51.8M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0644%	1h	0.4647	−0.017%	$904K	$2.9M	50x	as long as short
Lighter WLD	+0.0864%	1h	0.4661	+0.284%	$5.3M	$2.1M	10x	as long as short