Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Phemex against Bitget0.000%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1181.177% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)+0.788%+$79 · spread now 0.000%, 7d avg +0.059%

Together, before fees+0.827%+$83 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 0.059% cheaper against Bitget than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WLDUSDT	0.4508	0.0100	pay 0.0100% / 8h	7h 40m	$29.8M	$30.9M	75x
Short	Phemex WLDUSDT	0.4508	0.0100	get 0.0100% / 8h	7h 40m	$1.7M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.059%: −$5.87
Slippage, 4 orders: −$93.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$123.57
Costs to cover: 1.177%
Break-even: never at this rate

Slippage from Bitget: 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 Bitget live order book, 4 min ago	1.11 bp	8.3 bp −$8	19.4 bp −$194	71.3 bp −$7,129	doesn't fit
Sell Phemex live order book, 4 min ago	6.65 bp	40.4 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	−0.0016%	1h	0.4502	−0.122%	$234K	$175K	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4507	−0.022%	$36K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4506	−0.044%	$118K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4505	−0.071%	$65K	—	150x	as long as short
dYdX WLD-USD	+0.0051%	1h	0.4508	−0.006%	$154K	$32K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4504	−0.089%	$27K	$606K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4508	+0.010%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4508	0.000%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4507	−0.022%	$86.3M	$333.1M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4504	−0.089%	$63.7M	$89.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4505	−0.067%	$34.1M	$149.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4506	−0.044%	$7.1M	$34.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4507	−0.022%	$41.9M	$55.8M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4503	−0.111%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDTlong	+0.0100%	8h	0.4508	long leg	$29.8M	$30.9M	75x
BingX WLD-USDT	+0.0100%	8h	0.4506	−0.044%	—	$20.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4507	−0.016%	$131K	$297K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4501	−0.161%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4519	+0.239%	$27K	$322K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4515	+0.155%	$599K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4518	+0.222%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4505	−0.078%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4512	+0.089%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4506	−0.044%	$214	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4501	−0.155%	$823K	$1.5M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4508	0.000%	$1.7M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4502	−0.137%	$207K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4505	−0.060%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	0.000%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4498	−0.215%	—	—	20x	as long as short
Hyperliquid WLD	+0.0152%	1h	0.4511	+0.071%	$50.0M	$43.1M	10x	as long as short
01 Exchange WLDUSD	+0.0168%	1h	0.4505	−0.064%	$322	$55	5x	as long as short
Phoenix WLD	+0.0194%	1h	0.4514	+0.135%	$4K	$44K	10x	as long as short
Lighter WLD	+0.0208%	1h	0.4512	+0.098%	$4.9M	$2.9M	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4512	+0.079%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4502	−0.133%	$4.4M	$906K	75x	as long as short
Kraken Futures PF_WLDUSD	+0.0304%	1h	0.4510	+0.039%	$867K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4510	+0.044%	$267K	$1.6M	50x	as long as short