Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: Phemex against gTrade (Gains Network)+0.166%190s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.166% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 190 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	gTrade (Gains Network) WLD/USD	0.4433	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	29m 16s	$64K	—	150x
Short	Phemex WLDUSDT	0.4440	0.0100	get 0.0100% / 8h	5h 29m	$1.7M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now +0.166%Rate

Funding earned: $20.33
Price spread: +0.166% → 0.000%: $16.65
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $14.98
Costs to cover: 0.220%
Break-even: 1.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	5.64 bp	43.3 bp −$43	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

WLD on 38 exchanges

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
Polymarket Perps WLD-USD	−0.0431%	1h	0.4436	+0.081%	$42K	$2.7M	10x	as long as short
Kraken Futures PF_WLDUSD	−0.0194%	1h	0.4441	+0.197%	$844K	$2.6M	50x	as long as short
01 Exchange WLDUSD	−0.0192%	1h	0.4441	+0.191%	$318	$55	5x	as long as short
Bybit WLDUSDT	−0.0160%	8h	0.4438	+0.121%	$63.1M	$85.1M	50x	as long as short
Nado WLD-PERP	−0.0145%	1h	0.4438	+0.133%	$232K	$158K	5x	as long as short
Gate WLD_USDT	−0.0104%	8h	0.4440	+0.166%	$7.0M	$31.5M	75x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4437	+0.099%	$83K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4442	+0.212%	$100K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USDlong	L +0.0003% / S −0.0003%	1h	0.4433	long leg	$64K	—	150x
dYdX WLD-USD	+0.0006%	1h	0.4438	+0.130%	$152K	$31K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	+1.001%	$6K	$185K	5.5x	as long as short
KuCoin WLDUSDTM	+0.0029%	8h	0.4439	+0.144%	$6.8M	$10.2M	50x	as long as short
Variational Omni WLD	+0.0042%	8h	0.4431	−0.026%	$2.0M	$1.4M	—	as long as short
Phoenix WLD	+0.0053%	1h	0.4439	+0.139%	$4K	$40K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0086%	8h	0.4440	+0.166%	$27K	$295K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4446	+0.300%	$4.8M	$3.0M	10x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4445	+0.270%	$49.5M	$29.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4442	+0.214%	$217K	$899K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4439	+0.144%	$59K	$506K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4440	+0.161%	$84.1M	$314.3M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4437	+0.099%	$33.9M	$140.5M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4441	+0.189%	$40.1M	$55.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4438	+0.121%	$29.0M	$28.6M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4438	+0.121%	—	$55.5M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4441	+0.187%	$125K	$275K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4430	−0.068%	$26K	$323K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4434	+0.031%	$584K	$2.3M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4433	+0.009%	$47K	$248K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4445	+0.279%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4440	+0.166%	$227	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4437	+0.099%	$813K	$1.2M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4440	+0.166%	$1.7M	$3.5M	50x
Extended WLD-USD	+0.0104%	1h	0.4438	+0.123%	$209K	$652K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4442	+0.204%	$30K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4433	+0.018%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0218% / S −0.0967%	1h	0.4442	+0.211%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4441	+0.189%	$4.7M	$906K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4441	+0.189%	$270K	$966K	50x	as long as short