Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.055%

Price spread now: KuCoin against GMX−0.054%7-day average — · you buy dearer than you sell

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

Long on GMX Short on KuCoin

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 against this trade now: funding costs −$4 a day on $10k at the current rate, and KuCoin is 0.054% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WLD/USD [ETH-USDC]	0.4522	L +0.0219% / S −0.0967%	pay 0.0027% / 1h	46m 03s	$4K	—	100x
Short	KuCoin WLDUSDTM	0.4520	0.0100	get 0.0100% / 8h	7h 46m	$6.6M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$24.98
Price spread: −0.054% → 0.000%: −$5.44
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$54.42
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 2 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	1.11 bp	19.3 bp −$19	49.9 bp −$499	doesn't fit	doesn't fit

GMX: 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 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	−0.0007%	1h	0.4522	−0.016%	$235K	$175K	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4523	+0.012%	$36K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4523	+0.012%	$118K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4523	+0.010%	$65K	—	150x	as long as short
dYdX WLD-USD	+0.0028%	1h	0.4526	+0.073%	$154K	$32K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4522	−0.010%	$27K	$620K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4524	+0.032%	$228K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4526	+0.070%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4521	−0.041%	$86.7M	$333.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4520	−0.054%	$63.9M	$89.3M	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	0.4521	−0.032%	$34.2M	$149.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4522	−0.010%	$7.1M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4522	−0.010%	$42.0M	$55.6M	300x	as long as short
KuCoin WLDUSDTMshort	+0.0100%	8h	0.4520	−0.054%	$6.6M	$11.6M	50x
Bitget WLDUSDT	+0.0100%	8h	0.4522	−0.010%	$29.9M	$30.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4521	−0.032%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4523	+0.014%	$132K	$297K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4523	+0.006%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4520	−0.063%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4526	+0.077%	$601K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4524	+0.034%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4523	+0.012%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4530	+0.167%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4522	−0.010%	$214	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4522	−0.010%	$827K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4522	−0.010%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4520	−0.052%	$208K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4523	+0.019%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.320%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4521	−0.037%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0184%	1h	0.4528	+0.118%	$324	$55	5x	as long as short
Phoenix WLD	+0.0194%	1h	0.4523	+0.019%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]long	L +0.0219% / S −0.0967%	1h	0.4522	long leg	$4K	—	100x
BloFin WLD-USDT	+0.0220%	8h	0.4526	+0.078%	$4.4M	$911K	75x	as long as short
Hyperliquid WLD	+0.0229%	1h	0.4526	+0.072%	$50.1M	$43.1M	10x	as long as short
Lighter WLD	+0.0264%	1h	0.4528	+0.118%	$4.9M	$2.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0303%	1h	0.4524	+0.025%	$870K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4527	+0.100%	$269K	$1.6M	50x	as long as short