Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0129%/8h= −14.2% APRpaid last 24h −0.039%

Price spread now: OKX against GMX−0.080%52s7-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 OKX

What this pair did over the last

the charts below follow

Funding, last 3 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 OKX is 0.080% cheaper against GMX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	GMX WLD/USD [ETH-USDC]	0.4566	L +0.0229% / S −0.1268%	pay 0.0029% / 1h	46m 36s	$5K	—	100x
Short	OKX WLD-USDT-SWAP	0.4562	0.0100	get 0.0100% / 8h	4h 46m	$34.2M	$148.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$27.16
Price spread: −0.080% → 0.000%: −$7.95
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$57.11
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: 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 OKX live order book, 2 min ago	1.10 bp	8.2 bp −$8	21.7 bp −$217	185.1 bp −$18.5K	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
Kalshi KXWLDPERP	−0.0107%	8h	0.4565	−0.014%	$62K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0076%	1h	0.4561	−0.112%	$242K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0036%	8h	0.4560	−0.123%	$6.9M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4562	−0.076%	$156K	$33K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4563	−0.058%	$115K	$923K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4565	−0.008%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4558	−0.167%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0016%	1h	0.4563	−0.060%	$326	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0083%	8h	0.4560	−0.123%	$28K	$888K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4567	+0.041%	$4.9M	$2.4M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4563	−0.049%	$189K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4565	−0.024%	$49K	$528K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4563	−0.067%	$86.6M	$327.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4561	−0.101%	$65.0M	$88.8M	50x	as long as short
OKX WLD-USDT-SWAPshort	+0.0100%	8h	0.4562	−0.080%	$34.2M	$148.6M	50x
Gate WLD_USDT	+0.0100%	8h	0.4563	−0.058%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4565	−0.014%	$44.4M	$53.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4561	−0.101%	$30.1M	$30.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4565	−0.014%	—	$67.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4565	−0.014%	$135K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4575	+0.199%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4559	−0.145%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4561	−0.101%	$600K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4559	−0.145%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4561	−0.112%	$51K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4577	+0.249%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4561	−0.101%	$171	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4567	+0.030%	$836K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4564	−0.036%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4563	−0.062%	$220K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4561	−0.095%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4560	−0.118%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4563	−0.051%	$5K	$52K	10x	as long as short
Hyperliquid WLD	+0.0166%	1h	0.4567	+0.032%	$50.1M	$43.2M	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4564	−0.036%	$4.9M	$845K	75x	as long as short
GMX WLD/USD [ETH-USDC]long	L +0.0229% / S −0.1268%	1h	0.4566	long leg	$5K	—	100x
Kraken Futures PF_WLDUSD	+0.0481%	1h	0.4563	−0.064%	$883K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4571	+0.118%	$268K	$1.7M	50x	as long as short