Funding you earn now, next payment 21:00 UTC−0.0400%/8h= −43.8% APRnext payment −$0.50 per $10,000 · paid last 24h −0.076%
Price spread now: Deribit against Coinbase International+0.044%7-day average −0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$550.552% of the position
Funding, last 7 days−0.184%−$18 on $10k
+Price spread, last 3 days (all we have)+0.133%+$13 · spread now +0.044%, 7d avg −0.019%
=The price spread pays, funding is against you. Deribit is 0.063% dearer against Coinbase International than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.019%): +$6 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.184% in total) that is about 2.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.184% in total (about -9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. 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 | 0.4521 | 0.0400 | pay 0.0050% / 1h | 2m 40s | $277K | $1.6M | 50x |
| Short | Deribit WLD_USDC-PERPETUAL | 0.4523 | 0 | get 0.0000% / 1h | 2m 40s | $122K | $911K | 25x |
Coinbase International WLD-PERP-INTX
Deribit WLD_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$84
- Price spread: +0.044% → −0.019%
- $6.34
- Slippage, 4 orders
- −$38.23
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$132.89
- Costs to cover
- 0.552%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 1 min ago; Deribit: live order book, 21 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, 1 min ago | 3.32 bp | 23.9 bp −$24 | 30.9 bp −$309 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 21 min ago | 2.19 bp | 9.4 bp −$9 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXWLDPERP | −0.0489% | 8h | 0.4518 | −0.066% | $45K | $3.8M | 1.7x | as long as short |
| Orderly PERP_WLD_USDC | −0.0016% | 8h | 0.4520 | −0.022% | $27K | $916K | 10x | as long as short |
| KuCoin WLDUSDTM | −0.0003% | 8h | 0.4518 | −0.066% | $7.0M | $10.7M | 50x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4522 | +0.016% | $154K | $6K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUALshort | 0.0000% | 1h | 0.4523 | +0.044% | $122K | $911K | 25x | |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4521 | −0.011% | $56K | — | 150x | as long as short |
| Variational Omni WLD | +0.0018% | 8h | 0.4512 | −0.193% | $2.1M | $1.7M | — | as long as short |
| Nado WLD-PERP | +0.0042% | 1h | 0.4514 | −0.155% | $271K | $169K | 5x | as long as short |
| Phoenix WLD | +0.0052% | 1h | 0.4522 | +0.013% | $5K | $52K | 10x | as long as short |
| OKX WLD-USDT-SWAP | +0.0093% | 8h | 0.4520 | −0.022% | $33.8M | $137.8M | 50x | as long as short |
Kalshi KXWLDPERP
Orderly PERP_WLD_USDC
KuCoin WLDUSDTM
dYdX WLD-USD
gTrade (Gains Network) WLD/USD
Variational Omni WLD
Nado WLD-PERP
Phoenix WLD
OKX WLD-USDT-SWAPShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC WLD_USDT | +0.0098% | 8h | 0.4521 | 0.000% | $49.4M | $48.7M | 300x | as long as short |
| Hyperliquid WLD | +0.0100% | 1h | 0.4525 | +0.097% | $46.5M | $41.4M | 10x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4519 | −0.048% | $212K | $976K | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4521 | +0.006% | $51K | $481K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4520 | −0.022% | $84.8M | $293.1M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4520 | −0.022% | $64.4M | $80.5M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4519 | −0.044% | $7.3M | $34.9M | 75x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4518 | −0.066% | $29.9M | $25.1M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4520 | −0.022% | — | $68.1M | — | as long as short |
| Backpack WLD_USDC_PERP | +0.0100% | 1h | 0.4524 | +0.073% | $128K | $270K | 10x | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4509 | −0.264% | $27K | $315K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4510 | −0.238% | $605K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4509 | −0.265% | $54K | $227K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4519 | −0.049% | $51K | $1.7M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4525 | +0.088% | $22K | $1.5M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4521 | 0.000% | $201 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4516 | −0.111% | $852K | $1.8M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4522 | +0.022% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4519 | −0.045% | $132K | $745K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4522 | +0.033% | $31K | $5K | 3x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4518 | −0.060% | — | — | 20x | as long as short |
| BloFin WLD-USDT | +0.0219% | 8h | 0.4518 | −0.066% | $4.8M | $808K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0239% / S −0.1979% | 1h | 0.4520 | −0.020% | $9K | — | 100x | as long as short |
| 01 Exchange WLDUSD | +0.0304% | 1h | 0.4523 | +0.051% | $324 | $77 | 5x | as long as short |
| Injective WLD/USDC PERP | +0.0374% | 1h | 0.4542 | +0.464% | $6K | $185K | 5.5x | as long as short |
| Coinbase International WLD-PERP-INTXlong | +0.0400% | 1h | 0.4521 | long leg | $277K | $1.6M | 50x | |
| Lighter WLD | +0.0944% | 1h | 0.4530 | +0.201% | $5.1M | $2.1M | 10x | as long as short |
| Kraken Futures PF_WLDUSD | +0.1103% | 1h | 0.4523 | +0.048% | $920K | $2.6M | 50x | as long as short |
MEXC WLD_USDT
Hyperliquid WLD
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDT
Gate WLD_USDT
Bitget WLDUSDT
BingX WLD-USDT
Backpack WLD_USDC_PERP
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Reya WLDRUSDPERP
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
01 Exchange WLDUSD
Injective WLD/USDC PERP
Lighter WLD
Kraken Futures PF_WLDUSD