Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h +0.092%

Price spread now: Coinbase International against Bybit+0.111%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$620.617% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.111%, 7d avg +0.086%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.025% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.086%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.134% in total (about 7.0% 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	Bybit WLDUSDT	0.4520	0.0100	pay 0.0100% / 8h	3h 12m	$64.2M	$90.2M	50x
Short	Coinbase International WLD-PERP-INTX	0.4525	0.0560	get 0.0070% / 1h	12m 00s	$263K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.111%Rate

Funding earned: $96.6
Price spread: +0.111% → +0.086%: $2.45
Slippage, 4 orders: −$40.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $37.35
Costs to cover: 0.617%
Break-even: 4.3 days

Slippage from Bybit: live order book, 2 min ago; Coinbase International: live order book, 2 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 Bybit live order book, 2 min ago	1.11 bp	9.5 bp −$9	20.0 bp −$200	138.6 bp −$13.9K	doesn't fit
Sell Coinbase International live order book, 2 min ago	5.52 bp	17.8 bp −$18	21.3 bp −$213	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	−0.0025%	1h	0.4521	+0.033%	$240K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4525	+0.104%	$154K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4520	0.000%	$65K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4521	+0.022%	$118K	$986K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4521	+0.017%	$65K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0031%	8h	0.4518	−0.044%	$6.8M	$11.8M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4520	0.000%	$28K	$868K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4523	+0.074%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4526	+0.136%	$50K	$526K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4521	+0.022%	$86.2M	$331.8M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDTlong	+0.0100%	8h	0.4520	long leg	$64.2M	$90.2M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4522	+0.044%	$34.1M	$151.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4519	−0.022%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4518	−0.044%	$40.1M	$55.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4519	−0.022%	$29.8M	$30.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4520	0.000%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4521	+0.018%	$134K	$304K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4533	+0.281%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4538	+0.400%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4539	+0.420%	$602K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4544	+0.531%	$48K	$241K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4518	−0.051%	$54K	$2.2M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4522	+0.044%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4520	0.000%	$203	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4518	−0.044%	$826K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4520	0.000%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4519	−0.029%	$214K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4522	+0.038%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4517	−0.060%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4538	+0.398%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4532	+0.274%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4524	+0.088%	$4.8M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4521	+0.027%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0272%	1h	0.4521	+0.015%	$323	$55	5x	as long as short
Hyperliquid WLD	+0.0328%	1h	0.4526	+0.122%	$49.4M	$43.7M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0525%	1h	0.4521	+0.023%	$868K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0560%	1h	0.4525	+0.111%	$263K	$1.6M	50x
Lighter WLD	+0.0752%	1h	0.4525	+0.108%	$4.9M	$2.9M	10x	as long as short