Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Phemex against Extended−0.033%7-day average +0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$940.939% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 3 days (all we have)+0.429%+$43 · spread now −0.033%, 7d avg +0.069%

Together, before fees+0.134%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.102% cheaper against Extended than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WLD-USD	0.4551	0.0104	pay 0.0013% / 1h	31m 52s	$133K	$745K	10x
Short	Phemex WLDUSDT	0.4550	0.0100	get 0.0100% / 8h	2h 31m	$1.8M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$0.84
Price spread: −0.033% → +0.069%: −$10.16
Slippage, 4 orders: −$76.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$104.91
Costs to cover: 0.939%
Break-even: never at this rate

Slippage from Extended: live order book, 56 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 Extended live order book, 56 min ago	2.18 bp	4.7 bp −$5	12.4 bp −$124	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	6.59 bp	42.2 bp −$42	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	−0.0515%	8h	0.4551	−0.011%	$44K	$3.8M	1.7x	as long as short
Variational Omni WLD	−0.0030%	8h	0.4535	−0.355%	$2.1M	$1.6M	—	as long as short
Orderly PERP_WLD_USDC	−0.0025%	8h	0.4549	−0.055%	$28K	$917K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4551	−0.005%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4550	−0.033%	$128K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4550	−0.022%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0019%	8h	0.4548	−0.077%	$7.0M	$10.7M	50x	as long as short
Nado WLD-PERP	+0.0044%	1h	0.4547	−0.099%	$271K	$168K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4536	−0.347%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0062%	8h	0.4549	−0.055%	$34.0M	$138.0M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLD	+0.0100%	1h	0.4555	+0.070%	$47.1M	$40.7M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4553	+0.037%	$215K	$981K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4552	+0.022%	$51K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4552	+0.013%	$85.7M	$292.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4549	−0.055%	$65.1M	$80.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4552	+0.011%	$7.5M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4552	+0.011%	$52.9M	$47.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4550	−0.033%	$30.1M	$25.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4552	+0.011%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4552	+0.018%	$129K	$275K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4538	−0.297%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4547	−0.095%	$614K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4543	−0.187%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4550	−0.044%	$54K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4556	+0.099%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4549	−0.055%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4548	−0.077%	$858K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4550	−0.033%	$1.8M	$3.8M	50x
Extended WLD-USDlong	+0.0104%	1h	0.4551	long leg	$133K	$745K	10x
Aevo WLD-PERP	+0.0104%	1h	0.4550	−0.023%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4548	−0.070%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4549	−0.047%	$12K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4545	−0.143%	$4.9M	$801K	75x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.549%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4556	+0.099%	$280K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0440%	1h	0.4554	+0.048%	$326	$77	5x	as long as short
Lighter WLD	+0.1048%	1h	0.4560	+0.193%	$5.1M	$2.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1096%	1h	0.4552	+0.014%	$922K	$2.6M	50x	as long as short