Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: dYdX against Bybit+0.120%50s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1911.914% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.120%, 7d avg +0.051%

Together, before fees−0.208%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.069% dearer against Bybit than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of +0.051%): +$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 2.3 days. At the pace of the last 7 days (−0.078% in total) that is about 6.2 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WLDUSDT	0.4579	0.0100	pay 0.0100% / 8h	1h 34m	$65.8M	$81.2M	50x
Short	dYdX WLD-USD	0.4584	0	get 0.0000% / 1h	34m 55s	$164K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$21
Price spread: +0.120% → +0.051%: $6.92
Slippage, 4 orders: −$170.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$205.49
Costs to cover: 1.914%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; dYdX: live order book, 49 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, 4 min ago	1.09 bp	9.0 bp −$9	17.2 bp −$172	102.7 bp −$10.3K	doesn't fit
Sell dYdX live order book, 49 min ago	79.53 bp	84.5 bp −$85	214.1 bp −$2,141	246.2 bp −$24.6K	290.3 bp −$145.2K

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	−0.0369%	8h	0.4584	+0.109%	$44K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4623	+0.961%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0004%	8h	0.4587	+0.175%	$28K	$914K	10x	as long as short
KuCoin WLDUSDTM	−0.0002%	8h	0.4580	+0.022%	$7.0M	$10.7M	50x	as long as short
dYdX WLD-USDshort	0.0000%	1h	0.4584	+0.120%	$164K	$13K	10x
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4588	+0.197%	$107K	$890K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4588	+0.191%	$57K	—	150x	as long as short
Variational Omni WLD	+0.0056%	8h	0.4588	+0.196%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0068%	1h	0.4589	+0.218%	$276K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4582	+0.067%	$215K	$988K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4585	+0.142%	$51K	$480K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4579	+0.002%	$86.8M	$296.1M	75x	as long as short
Bybit WLDUSDTlong	+0.0100%	8h	0.4579	long leg	$65.8M	$81.2M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4578	−0.022%	$34.3M	$140.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4581	+0.044%	$7.5M	$35.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4579	0.000%	$49.1M	$51.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4577	−0.044%	$30.2M	$25.4M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4580	+0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4587	+0.168%	$127K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4589	+0.216%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4590	+0.248%	$626K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4625	+1.005%	$56K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4590	+0.236%	$47K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4593	+0.306%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4584	+0.109%	$204	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4583	+0.087%	$865K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4582	+0.066%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4576	−0.060%	$241K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4587	+0.166%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4603	+0.533%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4588	+0.207%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0186%	1h	0.4588	+0.194%	$913K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4585	+0.131%	$4.9M	$815K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4590	+0.231%	$328	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4587	+0.173%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4596	+0.371%	$271K	$1.6M	50x	as long as short
Lighter WLD	+0.0904%	1h	0.4596	+0.360%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLD	+0.1007%	1h	0.4584	+0.116%	$49.9M	$43.1M	10x	as long as short