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 +0.005%

Price spread now: Phemex against BingX+0.066%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1161.161% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.650%+$65 · spread now +0.066%, 7d avg +0.020%

Together, before fees+0.663%+$66 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 0.046% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WLD-USDC	0.4566	0.0100	pay 0.0100% / 8h	4h 00m	—	$1.3M	—
Short	Phemex WLDUSDT	0.4569	0.0100	get 0.0100% / 8h	4h 00m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → +0.020%: $4.55
Slippage, 4 orders: −$94.15
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$111.59
Costs to cover: 1.161%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Phemex: live order book, 3 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	2.20 bp	15.5 bp −$16	62.3 bp −$623	511.8 bp −$51.2K	804.3 bp −$402.2K
Sell Phemex live order book, 3 min ago	7.66 bp	40.2 bp −$40	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
Nado WLD-PERP	−0.0047%	1h	0.4569	+0.066%	$242K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4565	−0.030%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4566	0.000%	$53K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4565	−0.022%	$124K	$963K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4564	−0.049%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0008%	8h	0.4566	0.000%	$6.9M	$11.7M	50x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4583	+0.372%	$6K	$185K	5.5x	as long as short
Lighter WLD	+0.0096%	1h	0.4572	+0.125%	$4.9M	$2.4M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4563	−0.066%	$28K	$885K	10x	as long as short
Polymarket Perps WLD-USD	+0.0099%	1h	0.4566	−0.009%	$40K	$2.2M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4567	+0.029%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4567	+0.021%	$49K	$527K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4567	+0.019%	$86.6M	$329.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4566	0.000%	$65.0M	$89.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4566	0.000%	$34.3M	$150.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4567	+0.022%	$7.2M	$37.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4568	+0.044%	$43.4M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4565	−0.022%	$30.2M	$30.2M	75x	as long as short
BingX WLD-USDClong	+0.0100%	8h	0.4566	long leg	—	$1.3M	—
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4567	+0.028%	$136K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4567	+0.015%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4563	−0.074%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4567	+0.022%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4567	+0.022%	$43K	$238K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4566	0.000%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4563	−0.066%	$175	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4565	−0.022%	$834K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4569	+0.066%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4565	−0.027%	$218K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4564	−0.044%	$31K	$600	3x	as long as short
01 Exchange WLDUSD	+0.0128%	1h	0.4572	+0.138%	$327	$80	5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4564	−0.038%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4567	+0.011%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4563	−0.066%	$4.9M	$829K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4563	−0.067%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0333%	1h	0.4573	+0.151%	$50.2M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0481%	1h	0.4566	+0.003%	$881K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4575	+0.197%	$268K	$1.7M	50x	as long as short