Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Backpack against Gate+0.228%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−0.244%−$24 · spread now +0.228%, 7d avg +0.032%

Together, before fees−0.135%−$14 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: Backpack is 0.196% dearer against Gate than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WLD_USDT	0.4560	0.0100	pay 0.0100% / 8h	3h 34m	$7.3M	$36.4M	75x
Short	Backpack WLD_USDC_PERP	0.4570	0.0100	get 0.0013% / 1h	34m 18s	$137K	$302K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.228%Rate

Funding earned: $0
Price spread: +0.228% → +0.032%: $19.57
Slippage, 4 orders: −$22.12
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$27.55
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Backpack: live order book, 19 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 Gate live order book, 5 min ago	1.09 bp	17.1 bp −$17	35.0 bp −$350	50.1 bp −$5,012	122.0 bp −$61.0K
Sell Backpack live order book, 19 min ago	0.43 bp	9.5 bp −$9	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
Nado WLD-PERP	−0.0029%	1h	0.4560	0.000%	$242K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4570	+0.211%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4569	+0.197%	$50K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4561	+0.022%	$124K	$959K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4561	+0.014%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0016%	8h	0.4561	+0.022%	$6.9M	$11.8M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4571	+0.242%	$210K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4571	+0.230%	$49K	$524K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4561	+0.020%	$86.9M	$329.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4559	−0.022%	$65.1M	$90.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4560	0.000%	$34.6M	$151.2M	50x	as long as short
Gate WLD_USDTlong	+0.0100%	8h	0.4560	long leg	$7.3M	$36.4M	75x
MEXC WLD_USDT	+0.0100%	8h	0.4560	0.000%	$43.1M	$54.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4558	−0.044%	$30.2M	$30.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4561	+0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4570	+0.228%	$137K	$302K	10x
Variational Omni WLD	+0.0100%	8h	0.4568	+0.169%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4579	+0.416%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4570	+0.223%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.439%	$43K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4560	−0.007%	$40K	$2.1M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4560	0.000%	$28K	$868K	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4565	+0.110%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4567	+0.154%	$206	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4567	+0.154%	$835K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4569	+0.197%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4558	−0.051%	$217K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4568	+0.181%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4558	−0.038%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.351%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4580	+0.439%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4568	+0.175%	$4.9M	$893K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4560	−0.005%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0320%	1h	0.4566	+0.125%	$327	$55	5x	as long as short
Hyperliquid WLD	+0.0449%	1h	0.4566	+0.138%	$50.2M	$43.4M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0520%	1h	0.4569	+0.195%	$886K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4575	+0.329%	$268K	$1.7M	50x	as long as short
Lighter WLD	+0.0824%	1h	0.4580	+0.441%	$5.1M	$2.6M	10x	as long as short