Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.002%

Price spread now: Phoenix against Bybit+0.467%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.467% dearer against Bybit than usual: you sell high and buy low (spread +0.467% now, against zero (this spread has no 7-day history yet)): +$47 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 50 days. At the pace of the last 7 days (−0.008% in total) that is about 14 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WLDUSDT	0.4540	0.0083	pay 0.0083% / 8h	2h 45m	$65.9M	$79.2M	50x
Short	Phoenix WLD	0.4561	0.0052	get 0.0006% / 1h	45m 12s	$5K	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.467%Rate

Funding earned: −$6.54
Price spread: +0.467% → 0.000%: $46.7
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $22.16
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Phoenix: no order-book sample. Net counts fees only.

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	1.10 bp	11.0 bp −$11	24.9 bp −$249	128.6 bp −$12.9K	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0542%	8h	0.4554	+0.308%	$34K	$3.8M	1.7x	as long as short
Variational Omni WLD	−0.0042%	8h	0.4558	+0.386%	$2.1M	$1.6M	—	as long as short
Orderly PERP_WLD_USDC	−0.0028%	8h	0.4540	0.000%	$28K	$918K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4553	+0.287%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4542	+0.044%	$153K	$790K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4541	+0.014%	$56K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0017%	8h	0.4538	−0.044%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0048%	8h	0.4540	0.000%	$34.1M	$137.1M	50x	as long as short
Phoenix WLDshort	+0.0052%	1h	0.4561	+0.467%	$5K	$52K	10x
Nado WLD-PERP	+0.0060%	1h	0.4545	+0.099%	$271K	$168K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDTlong	+0.0083%	8h	0.4540	long leg	$65.9M	$79.2M	50x
MEXC WLD_USDT	+0.0097%	8h	0.4541	+0.022%	$52.8M	$46.8M	300x	as long as short
Binance WLDUSDT	+0.0099%	8h	0.4540	0.000%	$85.9M	$290.7M	75x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4543	+0.076%	$208K	$975K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4553	+0.283%	$53K	$473K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4540	0.000%	$7.4M	$34.2M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4540	0.000%	$30.1M	$25.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4540	0.000%	—	$68.0M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4541	+0.022%	$128K	$278K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4561	+0.472%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4563	+0.509%	$618K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4560	+0.441%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4544	+0.081%	$54K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4545	+0.110%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4540	0.000%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4539	−0.022%	$854K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4541	+0.022%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4539	−0.032%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4542	+0.044%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4537	−0.058%	—	—	20x	as long as short
Hyperliquid WLD	+0.0183%	1h	0.4544	+0.079%	$47.1M	$40.5M	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4539	−0.020%	$12K	—	100x	as long as short
BloFin WLD-USDT	+0.0219%	8h	0.4540	0.000%	$5.0M	$831K	75x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.806%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4544	+0.088%	$279K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0600%	1h	0.4551	+0.236%	$326	$77	5x	as long as short
Lighter WLD	+0.1088%	1h	0.4551	+0.244%	$5.1M	$2.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1098%	1h	0.4544	+0.080%	$921K	$2.6M	50x	as long as short