Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0229%/8h= +25.1% APRpaid last 24h −0.004%

Price spread now: Kraken Futures against Bybit+0.255%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now +0.255%, 7d avg +0.073%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.182% dearer against Bybit than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.073%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.112% in total (about 5.8% 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	0.4571	0.0100	pay 0.0100% / 8h	7h 58m	$65.7M	$82.8M	50x
Short	Kraken Futures PF_WLDUSD	0.4583	0.0329	get 0.0041% / 1h	58m 59s	$903K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.255%Rate

Funding earned: $48.06
Price spread: +0.255% → +0.073%: $18.24
Slippage, 4 orders: −$30.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $14.94
Costs to cover: 0.514%
Break-even: 4.8 days

Slippage from Bybit: live order book, 10 min ago; Kraken Futures: live order book, 5 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, 10 min ago	1.09 bp	10.1 bp −$10	18.8 bp −$188	128.0 bp −$12.8K	doesn't fit
Sell Kraken Futures live order book, 5 min ago	5.46 bp	11.9 bp −$12	18.5 bp −$185	998.6 bp −$99.9K	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	−0.0196%	8h	0.4581	+0.219%	$65K	$3.9M	1.7x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4583	+0.259%	$164K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4580	+0.197%	$122K	$891K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4579	+0.180%	$56K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0004%	8h	0.4575	+0.088%	$7.0M	$11.0M	50x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4585	+0.306%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0039%	8h	0.4577	+0.131%	$28K	$906K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4580	+0.190%	$192K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4580	+0.186%	$54K	$487K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4571	+0.007%	$86.4M	$303.9M	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	0.4571	long leg	$65.7M	$82.8M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4571	0.000%	$34.3M	$143.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4574	+0.066%	$7.5M	$34.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4572	+0.022%	$46.3M	$53.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4572	+0.022%	$30.3M	$26.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4575	+0.088%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4577	+0.127%	$136K	$283K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4578	+0.151%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4577	+0.133%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4585	+0.306%	$608K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.197%	$55K	$228K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4582	+0.243%	$48K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4584	+0.284%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4578	+0.153%	$216	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4582	+0.241%	$853K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4577	+0.131%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4572	+0.013%	$231K	$847K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4580	+0.200%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0104%	1h	0.4586	+0.317%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4579	+0.172%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4581	+0.219%	$4.9M	$822K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4578	+0.150%	$5K	—	100x	as long as short
Kraken Futures PF_WLDUSDshort	+0.0329%	1h	0.4583	+0.255%	$903K	$2.7M	50x
Nado WLD-PERP	+0.0331%	1h	0.4578	+0.164%	$276K	$169K	5x	as long as short
01 Exchange WLDUSD	+0.0384%	1h	0.4583	+0.265%	$328	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4585	+0.306%	$273K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0577%	1h	0.4582	+0.241%	$50.8M	$43.6M	10x	as long as short
Lighter WLD	+0.1184%	1h	0.4590	+0.422%	$5.2M	$2.0M	10x	as long as short