Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h 0.000%

Price spread now: Phemex against edgeX−0.618%78s7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1191.189% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.878%+$88 · spread now −0.618%, 7d avg +0.050%

Together, before fees+0.878%+ Points / potential airdropedgeX: Active · farm board+$88 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.667% cheaper against edgeX than usual: you would sell low and buy high (−$67 if the spread goes back to its 7-day average of +0.050%). Swap the legs. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX WLDUSDC	0.4762	0.0100	pay 0.0050% / 4h	3h 11m	$28K	$318K	20x
Short	Phemex WLDUSDT	0.4733	−0.0059	pay 0.0059% / 8h	7h 11m	$1.9M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now −0.618%Rate

Funding earned: −$33.32
Price spread: −0.618% → +0.050%: −$66.72
Slippage, 4 orders: −$97.94
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$218.98
Costs to cover: 1.189%
Break-even: never at this rate

Slippage from edgeX: live order book, 61 min ago; Phemex: live order book, 2 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 edgeX live order book, 61 min ago	4.37 bp	8.9 bp −$9	16.2 bp −$162	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	13.69 bp	48.9 bp −$49	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	−0.0160%	8h	0.4749	−0.282%	$22K	$4.0M	1.7x	as long as short
Phemex WLDUSDTshort	−0.0059%	8h	0.4733	−0.618%	$1.9M	$3.7M	50x
Nado WLD-PERP	−0.0029%	1h	0.4742	−0.429%	$275K	$178K	5x	as long as short
KuCoin WLDUSDTM	−0.0010%	8h	0.4730	−0.681%	$7.1M	$11.1M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4725	−0.792%	$169K	$12K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4738	−0.513%	$136K	$863K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4740	−0.472%	$56K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4744	−0.387%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0049%	8h	0.4737	−0.534%	$29K	$900K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4738	−0.512%	$211K	$983K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4727	−0.749%	$55K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4723	−0.827%	$90.4M	$310.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4722	−0.849%	$68.3M	$83.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4723	−0.828%	$35.9M	$149.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4730	−0.681%	$7.6M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4721	−0.870%	$49.4M	$54.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4730	−0.681%	$31.7M	$27.3M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4730	−0.681%	—	$67.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4735	−0.584%	$140K	$277K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4758	−0.098%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDClong	+0.0100%	4h	0.4762	long leg	$28K	$318K	20x
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4772	+0.196%	$630K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4768	+0.117%	$58K	$232K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4746	−0.355%	$49K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4745	−0.366%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4735	−0.576%	$232	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4741	−0.450%	$901K	$1.9M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4732	−0.639%	$219K	$894K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4738	−0.507%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4739	−0.496%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4760	−0.044%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4751	−0.240%	$5.0M	$883K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0240% / S −0.1538%	1h	0.4739	−0.489%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4744	−0.393%	$339	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0318%	1h	0.4739	−0.488%	$939K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4749	−0.282%	$278K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0877%	1h	0.4738	−0.510%	$53.1M	$44.0M	10x	as long as short
Lighter WLD	+0.1040%	1h	0.4737	−0.538%	$5.4M	$2.0M	10x	as long as short