Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0602%/8h= −65.9% APRpaid last 24h −0.131%

Price spread now: Kalshi against Coinbase International−0.305%7-day average −0.193% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$710.715% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now −0.305%, 7d avg −0.193%

Together, before fees−0.171%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Kalshi is 0.112% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.193%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.344% in total (about -17.9% 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	0.4583	0.0496	pay 0.0062% / 1h	43m 27s	$269K	$1.7M	50x
Short	Kalshi KXWLDPERP	0.4569	−0.0106	pay 0.0106% / 8h	43m 27s	$62K	$4.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.305%Rate

Funding earned: −$126.42
Price spread: −0.305% → −0.193%: −$11.2
Slippage, 4 orders: −$51.5
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$209.12
Costs to cover: 0.715%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Kalshi: 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 Coinbase International live order book, 5 min ago	7.66 bp	25.5 bp −$26	32.4 bp −$324	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	1.10 bp	23.6 bp −$24	29.5 bp −$295	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 KXWLDPERPshort	−0.0106%	8h	0.4569	−0.305%	$62K	$4.6M	1.7x
Nado WLD-PERP	−0.0069%	1h	0.4563	−0.425%	$242K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0034%	8h	0.4563	−0.436%	$6.9M	$11.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4571	−0.269%	$156K	$33K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4572	−0.240%	$118K	$927K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4560	−0.506%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4558	−0.545%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0032%	1h	0.4562	−0.449%	$326	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0084%	8h	0.4571	−0.262%	$28K	$888K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4574	−0.199%	$4.9M	$2.4M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4570	−0.276%	$190K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4572	−0.243%	$49K	$528K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4564	−0.420%	$86.5M	$327.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4561	−0.480%	$65.0M	$88.8M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4560	−0.502%	$34.2M	$148.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4568	−0.327%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4560	−0.502%	$44.3M	$53.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4560	−0.502%	$30.1M	$30.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4566	−0.371%	—	$67.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4573	−0.214%	$135K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4562	−0.466%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4564	−0.412%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4565	−0.393%	$603K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4565	−0.393%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4561	−0.489%	$47K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4578	−0.109%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4572	−0.240%	$175	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4577	−0.131%	$837K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4573	−0.218%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4564	−0.408%	$220K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4570	−0.279%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4558	−0.541%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4569	−0.297%	$5K	$52K	10x	as long as short
Hyperliquid WLD	+0.0179%	1h	0.4566	−0.367%	$50.1M	$43.2M	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4564	−0.415%	$4.9M	$845K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4573	−0.216%	$5K	—	100x	as long as short
Kraken Futures PF_WLDUSD	+0.0480%	1h	0.4573	−0.213%	$885K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTXlong	+0.0496%	1h	0.4583	long leg	$269K	$1.7M	50x