Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.056%

Price spread now: Bybit against Coinbase International−0.129%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)−0.563%−$56 · spread now −0.129%, 7d avg −0.080%

Together, before fees−0.671%−$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.050% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.080%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.108% in total (about -5.6% 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	Coinbase International WLD-PERP-INTX	0.4635	0.0400	pay 0.0050% / 1h	56m 35s	$276K	$1.6M	50x
Short	Bybit WLDUSDT	0.4629	0.0052	get 0.0052% / 8h	2h 56m	$68.1M	$78.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$73.02
Price spread: −0.129% → −0.080%: −$4.98
Slippage, 4 orders: −$40.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$139.79
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Bybit: 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 Coinbase International live order book, 2 min ago	7.55 bp	20.8 bp −$21	26.0 bp −$260	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.08 bp	9.9 bp −$10	17.9 bp −$179	89.1 bp −$8,905	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	−0.0297%	8h	0.4628	−0.151%	$31K	$3.7M	1.7x	as long as short
Phoenix WLD	−0.0091%	1h	0.4637	+0.052%	$2K	$52K	10x	as long as short
Variational Omni WLD	−0.0081%	8h	0.4652	+0.357%	$2.1M	$1.7M	—	as long as short
Orderly PERP_WLD_USDC	−0.0029%	8h	0.4629	−0.129%	$28K	$922K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4631	−0.087%	$158K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4630	−0.108%	$156K	$784K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4631	−0.095%	$58K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0012%	8h	0.4625	−0.216%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0030%	8h	0.4617	−0.388%	$35.0M	$138.0M	50x	as long as short
Bybit WLDUSDTshort	+0.0052%	8h	0.4629	−0.129%	$68.1M	$78.7M	50x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0084%	8h	0.4629	−0.129%	$54.9M	$46.0M	300x	as long as short
Binance WLDUSDT	+0.0085%	8h	0.4629	−0.128%	$88.6M	$290.1M	75x	as long as short
Nado WLD-PERP	+0.0100%	1h	0.4628	−0.151%	$358K	$130K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4632	−0.069%	$212K	$984K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4630	−0.099%	$56K	$475K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4621	−0.302%	$7.6M	$33.8M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4618	−0.367%	$30.4M	$24.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4621	−0.302%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4630	−0.112%	$131K	$293K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4638	+0.069%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4635	0.000%	$624K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4638	+0.065%	$56K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4631	−0.082%	$57K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4633	−0.043%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4628	−0.151%	$201	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4624	−0.237%	$870K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4625	−0.216%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4620	−0.324%	$135K	$744K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4629	−0.119%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4631	−0.095%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0204%	8h	0.4627	−0.173%	$5.0M	$876K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1831%	1h	0.4631	−0.095%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0240%	1h	0.4622	−0.280%	$331	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4647	+0.259%	$6K	$90K	5.5x	as long as short
Coinbase International WLD-PERP-INTXlong	+0.0400%	1h	0.4635	long leg	$276K	$1.6M	50x
Hyperliquid WLD	+0.0457%	1h	0.4637	+0.035%	$48.2M	$40.4M	10x	as long as short
Lighter WLD	+0.0880%	1h	0.4640	+0.112%	$5.1M	$1.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1077%	1h	0.4630	−0.104%	$928K	$2.5M	50x	as long as short