Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.034%

Price spread now: GRVT against Deribit−0.110%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)−0.354%−$35 · spread now −0.110%, 7d avg −0.056%

Together, before fees−0.167%+ Points / potential airdropGRVT: Active · farm board−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.053% cheaper against Deribit than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of −0.056%). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WLD_USDC-PERPETUAL	0.4566	0	get 0.0000% / 1h	2m 27s	$124K	$963K	25x
Short	GRVT WLD_USDT_Perp	0.4561	0.0100	get 0.0100% / 8h	4h 02m	$603K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now −0.110%Rate

Funding earned: $21
Price spread: −0.110% → −0.056%: −$5.32
Slippage, 4 orders: −$29.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$29.81
Costs to cover: 0.455%
Break-even: 16.9 days

Slippage from Deribit: live order book, 56 min ago; GRVT: live order book, 1 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, 56 min ago	3.28 bp	13.3 bp −$13	22.4 bp −$224	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	1.10 bp	11.9 bp −$12	25.9 bp −$259	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
Nado WLD-PERP	−0.0046%	1h	0.4563	−0.055%	$242K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4562	−0.095%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4563	−0.066%	$53K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUALlong	0.0000%	1h	0.4566	long leg	$124K	$963K	25x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4566	−0.005%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0005%	8h	0.4562	−0.088%	$6.9M	$11.7M	50x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4583	+0.372%	$6K	$185K	5.5x	as long as short
Lighter WLD	+0.0096%	1h	0.4567	+0.020%	$4.9M	$2.4M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4565	−0.022%	$28K	$885K	10x	as long as short
Polymarket Perps WLD-USD	+0.0099%	1h	0.4562	−0.088%	$40K	$2.2M	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	0.4564	−0.044%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4562	−0.085%	$49K	$527K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4563	−0.057%	$86.5M	$328.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4563	−0.066%	$65.0M	$89.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4563	−0.066%	$34.3M	$149.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4564	−0.044%	$7.2M	$37.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4561	−0.110%	$43.3M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4561	−0.110%	$30.2M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4562	−0.088%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4566	−0.011%	$136K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4556	−0.226%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4553	−0.283%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perpshort	+0.0100%	8h	0.4561	−0.110%	$603K	$1.9M	10x
ApeX Omni WLDUSDT	+0.0100%	1h	0.4556	−0.219%	$43K	$238K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4570	+0.088%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4565	−0.022%	$174	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4565	−0.022%	$834K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4567	+0.022%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4562	−0.083%	$218K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4565	−0.018%	$31K	$600	3x	as long as short
01 Exchange WLDUSD	+0.0128%	1h	0.4567	+0.015%	$327	$80	5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4562	−0.093%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4568	+0.042%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4562	−0.088%	$4.9M	$829K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4565	−0.017%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0333%	1h	0.4567	+0.018%	$50.1M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0480%	1h	0.4568	+0.038%	$882K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4561	−0.110%	$267K	$1.6M	50x	as long as short