Funding you earn now, next payment 03:00 UTC−0.0054%/8h= −5.9% APRnext payment −$0.07 per $10,000 · paid last 24h +0.033%
Price spread now: Backpack against Deribit+0.091%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$450.450% of the position
Funding, last 7 days+0.163%+$16 on $10k
+Price spread, last 4 days (all we have)−0.901%−$90 · spread now +0.091%, 7d avg −0.014%
=The price spread pays, funding is against you. Backpack is 0.104% dearer against Deribit than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.014%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.163%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit WLD_USDC-PERPETUAL | 0.4640 | 0.0181 | pay 0.0023% / 1h | 44m 20s | $120K | $923K | 25x |
| Short | Backpack WLD_USDC_PERP | 0.4644 | 0.0128 | get 0.0016% / 1h | 44m 20s | $138K | $290K | 10x |
Deribit WLD_USDC-PERPETUAL
Backpack WLD_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- −$11.25
- Price spread: +0.091% → −0.014%
- $10.44
- Slippage, 4 orders
- −$28.05
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$45.85
- Costs to cover
- 0.450%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 20 min ago; Backpack: live order book, 19 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 Deribit live order book, 20 min ago | 6.41 bp | 9.9 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 19 min ago | 0.86 bp | 10.4 bp −$10 | 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 | −0.0143% | 8h | 0.4624 | −0.345% | $58K | $4.5M | 1.7x | as long as short |
| KuCoin WLDUSDTM | −0.0041% | 8h | 0.4620 | −0.431% | $7.1M | $11.6M | 50x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4638 | −0.050% | $165K | $26K | 10x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4625 | −0.327% | $55K | — | 150x | as long as short |
| Orderly PERP_WLD_USDC | +0.0071% | 8h | 0.4624 | −0.345% | $28K | $893K | 10x | as long as short |
| Nado WLD-PERP | +0.0072% | 1h | 0.4627 | −0.291% | $268K | $187K | 5x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4634 | −0.139% | $177K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4635 | −0.113% | $51K | $508K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4623 | −0.367% | $87.8M | $324.7M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4623 | −0.366% | $66.0M | $87.8M | 50x | as long as short |
Kalshi KXWLDPERP
KuCoin WLDUSDTM
dYdX WLD-USD
gTrade (Gains Network) WLD/USD
Orderly PERP_WLD_USDC
Nado WLD-PERP
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4625 | −0.323% | $34.9M | $148.9M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4622 | −0.388% | $7.2M | $36.7M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4622 | −0.388% | $45.5M | $54.2M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4626 | −0.302% | $30.7M | $29.4M | 75x | as long as short |
| BingX WLD-USDC | +0.0100% | 8h | 0.4623 | −0.366% | — | $1.3M | — | as long as short |
| Variational Omni WLD | +0.0100% | 8h | 0.4628 | −0.265% | $2.1M | $1.8M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4611 | −0.629% | $27K | $319K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4615 | −0.538% | $611K | $1.8M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4615 | −0.539% | $51K | $236K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4627 | −0.276% | $54K | $2.0M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4646 | +0.129% | $23K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4639 | −0.022% | $292 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4641 | +0.022% | $848K | $1.9M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4641 | +0.022% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4625 | −0.317% | $214K | $927K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4640 | −0.003% | $31K | $600 | 3x | as long as short |
| Backpack WLD_USDC_PERPshort | +0.0128% | 1h | 0.4644 | +0.091% | $138K | $290K | 10x | |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4626 | −0.308% | — | — | 20x | as long as short |
| 01 Exchange WLDUSD | +0.0160% | 1h | 0.4625 | −0.334% | $331 | $80 | 5x | as long as short |
| Phoenix WLD | +0.0172% | 1h | 0.4626 | −0.306% | $5K | $57K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUALlong | +0.0181% | 1h | 0.4640 | long leg | $120K | $923K | 25x | |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4642 | +0.043% | — | $806K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0230% / S −0.1268% | 1h | 0.4621 | −0.420% | $5K | — | 100x | as long as short |
| Lighter WLD | +0.0456% | 1h | 0.4638 | −0.034% | $5.0M | $2.3M | 10x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0480% | 1h | 0.4626 | −0.302% | $276K | $1.7M | 50x | as long as short |
| Hyperliquid WLD | +0.0539% | 1h | 0.4632 | −0.177% | $51.5M | $42.9M | 10x | as long as short |
| Injective WLD/USDC PERP | +0.0677% | 1h | 0.4650 | +0.216% | $6K | $185K | 5.5x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0892% | 1h | 0.4641 | +0.018% | $904K | $2.9M | 50x | as long as short |
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDC
Variational Omni WLD
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
01 Exchange WLDUSD
Phoenix WLD
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
Lighter WLD
Coinbase International WLD-PERP-INTX
Hyperliquid WLD
Injective WLD/USDC PERP
Kraken Futures PF_WLDUSD