Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.024%

Price spread now: Backpack against BloFin+0.061%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 3 days (all we have)−0.871%−$87 · spread now +0.061%, 7d avg −0.005%

Together, before fees−1.028%−$103 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.065% dearer against BloFin than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of −0.005%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WLD-USDT	0.4627	0.0204	pay 0.0204% / 8h	2h 56m	$5.0M	$876K	75x
Short	Backpack WLD_USDC_PERP	0.4630	0.0100	get 0.0013% / 1h	56m 15s	$131K	$293K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$21.91
Price spread: +0.061% → −0.005%: $6.51
Slippage, 4 orders: −$19.35
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$56.75
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Backpack: live order book, 32 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 BloFin live order book, 2 min ago	3.24 bp	12.7 bp −$13	21.1 bp −$211	53.7 bp −$5,371	134.3 bp −$67.1K
Sell Backpack live order book, 32 min ago	0.11 bp	6.1 bp −$6	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	−0.0313%	8h	0.4623	−0.086%	$31K	$3.7M	1.7x	as long as short
Phoenix WLD	−0.0091%	1h	0.4637	+0.225%	$2K	$52K	10x	as long as short
Variational Omni WLD	−0.0081%	8h	0.4652	+0.531%	$2.1M	$1.7M	—	as long as short
Orderly PERP_WLD_USDC	−0.0029%	8h	0.4621	−0.130%	$28K	$922K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4631	+0.085%	$158K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4624	−0.065%	$156K	$781K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4619	−0.162%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0012%	8h	0.4617	−0.216%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0032%	8h	0.4619	−0.173%	$34.9M	$138.1M	50x	as long as short
Bybit WLDUSDT	+0.0052%	8h	0.4621	−0.130%	$68.0M	$78.4M	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	0.4619	−0.173%	$54.5M	$46.0M	300x	as long as short
Binance WLDUSDT	+0.0085%	8h	0.4619	−0.166%	$88.4M	$289.1M	75x	as long as short
Nado WLD-PERP	+0.0088%	1h	0.4617	−0.227%	$357K	$130K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4623	−0.083%	$211K	$984K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4630	+0.074%	$56K	$475K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4618	−0.195%	$7.6M	$33.8M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4620	−0.151%	$30.5M	$24.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4619	−0.173%	—	$67.9M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4630	+0.061%	$131K	$293K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4638	+0.242%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4635	+0.173%	$624K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4638	+0.238%	$56K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4620	−0.156%	$57K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4628	+0.022%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4622	−0.108%	$202	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4618	−0.195%	$869K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4622	−0.108%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4621	−0.119%	$135K	$744K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4623	−0.095%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4619	−0.171%	—	—	20x	as long as short
BloFin WLD-USDTlong	+0.0204%	8h	0.4627	long leg	$5.0M	$876K	75x
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1831%	1h	0.4619	−0.164%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0240%	1h	0.4622	−0.108%	$331	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4647	+0.432%	$6K	$90K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4624	−0.065%	$275K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0435%	1h	0.4626	−0.026%	$48.1M	$40.4M	10x	as long as short
Lighter WLD	+0.0880%	1h	0.4632	+0.112%	$5.1M	$1.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1078%	1h	0.4626	−0.024%	$928K	$2.5M	50x	as long as short