Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1054%/8h= +115.4% APRpaid last 24h +0.022%

Price spread now: Hyperliquid against BingX+0.172%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days−0.160%−$16 · spread now +0.172%, 7d avg +0.078%

Together, before fees−0.147%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Hyperliquid is 0.094% dearer against BingX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.078%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.013% in total (about 0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WLD-USDC	0.4597	0.0100	pay 0.0100% / 8h	1h 40m	—	$1.3M	—
Short	Hyperliquid WLD	0.4605	0.1154	get 0.0144% / 1h	40m 59s	$50.2M	$43.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.172%Rate

Funding earned: $221.36
Price spread: +0.172% → +0.078%: $9.38
Slippage, 4 orders: −$18.31
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $193.43
Costs to cover: 0.373%
Break-even: 0.9 days

Slippage from BingX: live order book, 5 min ago; Hyperliquid: live order book, 12 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 BingX live order book, 5 min ago	2.18 bp	12.6 bp −$13	39.8 bp −$398	488.3 bp −$48.8K	739.2 bp −$369.6K
Sell Hyperliquid live order book, 12 min ago	0.11 bp	4.6 bp −$5	4.6 bp −$46	4.6 bp −$461	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	−0.0401%	8h	0.4600	+0.065%	$44K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−1.631%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0005%	8h	0.4596	−0.022%	$28K	$914K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4602	+0.109%	$157K	$6K	10x	as long as short
KuCoin WLDUSDTM	0.0000%	8h	0.4596	−0.022%	$7.0M	$10.7M	50x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4597	0.000%	$107K	$890K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4596	−0.018%	$57K	—	150x	as long as short
Variational Omni WLD	+0.0051%	8h	0.4581	−0.347%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0067%	1h	0.4596	−0.033%	$277K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4597	+0.007%	$216K	$974K	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	0.4602	+0.109%	$52K	$480K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4596	−0.012%	$86.9M	$294.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4595	−0.044%	$65.8M	$80.9M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4595	−0.044%	$34.4M	$140.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4596	−0.022%	$7.5M	$35.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4597	0.000%	$49.1M	$51.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4596	−0.022%	$30.3M	$25.3M	75x	as long as short
BingX WLD-USDClong	+0.0100%	8h	0.4597	long leg	—	$1.3M	—
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4598	+0.030%	$128K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4592	−0.101%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4594	−0.065%	$626K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4597	0.000%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4596	−0.022%	$47K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4603	+0.131%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4597	0.000%	$200	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4596	−0.022%	$867K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4597	0.000%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4596	−0.031%	$241K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4593	−0.085%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4595	−0.041%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4594	−0.074%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0185%	1h	0.4603	+0.131%	$924K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4599	+0.044%	$4.9M	$817K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4605	+0.168%	$329	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4597	−0.003%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4602	+0.109%	$275K	$1.6M	50x	as long as short
Lighter WLD	+0.0976%	1h	0.4608	+0.235%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLDshort	+0.1154%	1h	0.4605	+0.172%	$50.2M	$43.2M	10x