Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.031%

Price spread now: Kalshi against dYdX−0.259%7-day average −0.165% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1251.255% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.664%−$66 · spread now −0.259%, 7d avg −0.165%

Together, before fees−0.771%−$77 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kalshi is 0.094% cheaper against dYdX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.165%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX WLD-USD	0.4531	0.0031	pay 0.0004% / 1h	47m 30s	$154K	$32K	10x
Short	Kalshi KXWLDPERP	0.4519	0	get 0.0000% / 8h	3h 47m	$36K	$4.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now −0.259%Rate

Funding earned: −$6.46
Price spread: −0.259% → −0.165%: −$9.41
Slippage, 4 orders: −$105.48
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$141.35
Costs to cover: 1.255%
Break-even: never at this rate

Slippage from dYdX: live order book, 51 min ago; Kalshi: 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 dYdX live order book, 51 min ago	38.55 bp	43.6 bp −$44	45.5 bp −$455	141.3 bp −$14.1K	574.9 bp −$287.5K
Sell Kalshi live order book, 1 min ago	1.11 bp	6.1 bp −$6	11.9 bp −$119	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	−0.0010%	1h	0.4531	+0.017%	$235K	$175K	5x	as long as short
Kalshi KXWLDPERPshort	0.0000%	8h	0.4519	−0.259%	$36K	$4.6M	1.7x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4529	−0.039%	$65K	—	150x	as long as short
dYdX WLD-USDlong	+0.0031%	1h	0.4531	long leg	$154K	$32K	10x
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4530	−0.016%	$27K	$624K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4530	−0.026%	$228K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4532	+0.033%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4529	−0.036%	$86.9M	$332.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4528	−0.060%	$64.1M	$89.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4527	−0.082%	$34.3M	$150.2M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDT	+0.0100%	8h	0.4531	+0.006%	$7.1M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4529	−0.038%	$42.0M	$55.6M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4527	−0.082%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4529	−0.038%	$29.9M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4531	+0.006%	—	$20.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4531	−0.005%	$132K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4523	−0.176%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4520	−0.246%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4526	−0.106%	$601K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4524	−0.149%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4530	−0.016%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4534	+0.072%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4527	−0.082%	$215	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	−0.237%	$827K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4528	−0.060%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4528	−0.053%	$208K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4530	−0.009%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.502%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4527	−0.087%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0192%	1h	0.4531	+0.006%	$119K	$1.0M	25x	as long as short
01 Exchange WLDUSD	+0.0192%	1h	0.4532	+0.039%	$324	$55	5x	as long as short
Phoenix WLD	+0.0194%	1h	0.4523	−0.164%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4531	+0.010%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4525	−0.126%	$4.4M	$911K	75x	as long as short
Hyperliquid WLD	+0.0253%	1h	0.4533	+0.052%	$50.2M	$43.1M	10x	as long as short
Lighter WLD	+0.0264%	1h	0.4537	+0.138%	$4.9M	$2.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0302%	1h	0.4529	−0.039%	$871K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4531	+0.006%	$269K	$1.6M	50x	as long as short