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 +0.026%

Price spread now: Phemex against dYdX+0.085%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1931.932% of the position

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now +0.085%, 7d avg −0.009%

Together, before fees+0.364%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.095% dearer against dYdX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX WLD-USD	0.4589	0	get 0.0000% / 1h	25m 23s	$157K	$33K	10x
Short	Phemex WLDUSDT	0.4593	0.0100	get 0.0100% / 8h	4h 25m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.085%Rate

Funding earned: $21
Price spread: +0.085% → −0.009%: $9.48
Slippage, 4 orders: −$171.23
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$162.75
Costs to cover: 1.932%
Break-even: 61.3 days

Slippage from dYdX: live order book, 34 min ago; Phemex: live order book, 3 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, 34 min ago	38.30 bp	56.9 bp −$57	107.5 bp −$1,075	172.4 bp −$17.2K	520.0 bp −$260.0K
Sell Phemex live order book, 3 min ago	9.77 bp	45.5 bp −$45	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	−0.0101%	8h	0.4592	+0.064%	$39K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0041%	1h	0.4595	+0.129%	$243K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0013%	8h	0.4596	+0.151%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USDlong	0.0000%	1h	0.4589	long leg	$157K	$33K	10x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4595	+0.125%	$67K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−0.982%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0093%	8h	0.4596	+0.151%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4597	+0.177%	$5.0M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4599	+0.208%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4591	+0.051%	$49K	$527K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4596	+0.143%	$87.1M	$328.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4595	+0.129%	$65.4M	$89.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4597	+0.173%	$34.4M	$150.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4595	+0.129%	$7.2M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4596	+0.151%	$43.9M	$54.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4596	+0.151%	$30.3M	$30.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4594	+0.107%	—	$67.4M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4593	+0.096%	$137K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4590	+0.012%	$2.2M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4592	+0.069%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4596	+0.151%	$608K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4591	+0.042%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4593	+0.094%	$47K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4599	+0.216%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4597	+0.173%	$176	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4583	−0.133%	$838K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4593	+0.085%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4595	+0.124%	$221K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4597	+0.173%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4596	+0.155%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4596	+0.144%	$329	$80	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4598	+0.188%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0185%	1h	0.4597	+0.173%	$119K	$942K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4594	+0.107%	$4.8M	$835K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4595	+0.120%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0323%	1h	0.4602	+0.281%	$50.6M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0477%	1h	0.4598	+0.192%	$889K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4608	+0.412%	$270K	$1.7M	50x	as long as short