Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: Phemex against Binance−0.013%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1061.065% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now −0.013%, 7d avg +0.017%

Together, before fees+0.280%+$28 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: Phemex is 0.030% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WLDUSDT	0.4628	0.0100	pay 0.0100% / 8h	7h 39m	$87.6M	$303.9M	75x
Short	Phemex WLDUSDT	0.4627	0.0100	get 0.0100% / 8h	7h 39m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.017%: −$3.01
Slippage, 4 orders: −$84.47
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$109.48
Costs to cover: 1.065%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	1.08 bp	9.0 bp −$9	16.4 bp −$164	58.3 bp −$5,826	212.5 bp −$106.2K
Sell Phemex live order book, 4 min ago	7.59 bp	51.2 bp −$51	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	−0.0188%	8h	0.4617	−0.230%	$64K	$3.9M	1.7x	as long as short
Nado WLD-PERP	−0.0027%	1h	0.4627	−0.003%	$279K	$169K	5x	as long as short
KuCoin WLDUSDTM	−0.0014%	8h	0.4623	−0.100%	$7.0M	$11.1M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4631	+0.080%	$165K	$13K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4625	−0.054%	$57K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4597	−0.662%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0041%	8h	0.4627	−0.013%	$28K	$903K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4634	+0.142%	$193K	$984K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4633	+0.116%	$54K	$482K	5x	as long as short
Binance WLDUSDTlong	+0.0100%	8h	0.4628	long leg	$87.6M	$303.9M	75x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4626	−0.035%	$66.5M	$82.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4625	−0.057%	$34.7M	$144.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4631	+0.073%	$7.6M	$35.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4626	−0.035%	$47.1M	$53.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4625	−0.057%	$30.7M	$26.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4629	+0.030%	—	$67.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4633	+0.114%	$138K	$280K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4618	−0.213%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4618	−0.207%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4612	−0.334%	$609K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4622	−0.121%	$54K	$229K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4627	−0.005%	$56K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4631	+0.073%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4626	−0.035%	$221	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4618	−0.208%	$859K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4627	−0.013%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4627	−0.023%	$234K	$847K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4626	−0.028%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4624	−0.083%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4615	−0.266%	$5K	$53K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0182%	1h	0.4629	+0.030%	$124K	$863K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4618	−0.208%	$4.9M	$829K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4626	−0.042%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4632	+0.099%	$331	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0326%	1h	0.4629	+0.034%	$912K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4622	−0.121%	$274K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0728%	1h	0.4634	+0.140%	$51.6M	$43.4M	10x	as long as short
Lighter WLD	+0.0944%	1h	0.4641	+0.280%	$5.3M	$2.0M	10x	as long as short