Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0191%/8h= −20.9% APRpaid last 24h −0.022%

Price spread now: Phoenix against BingX+0.181%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.181% dearer against BingX than usual: you sell high and buy low (spread +0.181% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.117% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.117% in total (about -6.1% 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	0.4629	0.0100	pay 0.0100% / 8h	2h 56m	—	$1.3M	—
Short	Phoenix WLD	0.4637	−0.0091	pay 0.0011% / 1h	56m 56s	$2K	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$40.12
Price spread: +0.181% → 0.000%: $18.15
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$38.98
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: BingX: live order book, 4 min ago; Phoenix: no order-book sample. 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 BingX live order book, 4 min ago	2.15 bp	16.9 bp −$17	42.6 bp −$426	409.2 bp −$40.9K	664.0 bp −$332.0K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0297%	8h	0.4628	−0.022%	$31K	$3.7M	1.7x	as long as short
Phoenix WLDshort	−0.0091%	1h	0.4637	+0.181%	$2K	$52K	10x
Variational Omni WLD	−0.0081%	8h	0.4652	+0.488%	$2.1M	$1.7M	—	as long as short
Orderly PERP_WLD_USDC	−0.0029%	8h	0.4629	0.000%	$28K	$922K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4630	+0.022%	$158K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4630	+0.022%	$156K	$784K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4631	+0.034%	$58K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0014%	8h	0.4626	−0.065%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0030%	8h	0.4630	+0.022%	$35.0M	$139.0M	50x	as long as short
Bybit WLDUSDT	+0.0049%	8h	0.4631	+0.043%	$68.2M	$78.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0084%	8h	0.4631	+0.043%	$54.9M	$46.0M	300x	as long as short
Binance WLDUSDT	+0.0084%	8h	0.4629	+0.008%	$88.6M	$290.0M	75x	as long as short
Nado WLD-PERP	+0.0100%	1h	0.4628	−0.022%	$358K	$130K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4630	+0.032%	$212K	$984K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4627	−0.043%	$56K	$475K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4627	−0.043%	$7.6M	$33.8M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4629	0.000%	$30.5M	$25.0M	75x	as long as short
BingX WLD-USDClong	+0.0100%	8h	0.4629	long leg	—	$1.3M	—
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4630	+0.017%	$131K	$293K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4638	+0.199%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4635	+0.130%	$624K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4638	+0.194%	$56K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4631	+0.048%	$57K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4633	+0.086%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4628	−0.022%	$201	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4624	−0.108%	$870K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4625	−0.086%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4630	+0.022%	$135K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4629	+0.011%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4631	+0.034%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0204%	8h	0.4627	−0.043%	$5.0M	$876K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1831%	1h	0.4631	+0.035%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0232%	1h	0.4631	+0.050%	$331	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4647	+0.389%	$6K	$90K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4635	+0.130%	$276K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0446%	1h	0.4635	+0.134%	$48.2M	$40.4M	10x	as long as short
Lighter WLD	+0.0520%	1h	0.4640	+0.240%	$5.1M	$1.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1077%	1h	0.4630	+0.025%	$928K	$2.5M	50x	as long as short