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 −0.028%

Price spread now: Phemex against GMX+0.117%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.117% dearer against GMX than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WLD/USD [ETH-USDC]	0.4589	L +0.0229% / S −0.1268%	pay 0.0029% / 1h	25m 50s	$5K	—	100x
Short	Phemex WLDUSDT	0.4594	0.0100	get 0.0100% / 8h	4h 25m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$27.19
Price spread: +0.117% → 0.000%: $11.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$39.51
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: 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 GMX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	9.77 bp	45.5 bp −$45	doesn't fit	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
Kalshi KXWLDPERP	−0.0101%	8h	0.4590	+0.030%	$39K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0041%	1h	0.4586	−0.063%	$243K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0015%	8h	0.4589	+0.008%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4589	+0.011%	$157K	$33K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4590	+0.027%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−0.973%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0093%	8h	0.4590	+0.030%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4598	+0.197%	$5.0M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4600	+0.250%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4591	+0.051%	$49K	$527K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4590	+0.025%	$87.0M	$328.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4588	−0.014%	$65.3M	$89.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4589	+0.008%	$34.4M	$150.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4587	−0.036%	$7.2M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4588	−0.014%	$43.8M	$54.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4589	+0.008%	$30.3M	$30.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4588	−0.014%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4593	+0.106%	$137K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4590	+0.022%	$2.2M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4588	−0.016%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4600	+0.237%	$606K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4619	+0.662%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4586	−0.053%	$47K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4593	+0.095%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4593	+0.095%	$171	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4583	−0.123%	$838K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4594	+0.117%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4588	−0.007%	$221K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4592	+0.073%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4589	+0.002%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4590	+0.025%	$328	$80	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4605	+0.350%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0186%	1h	0.4592	+0.073%	$119K	$942K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4592	+0.073%	$4.8M	$834K	75x	as long as short
GMX WLD/USD [ETH-USDC]long	L +0.0229% / S −0.1268%	1h	0.4589	long leg	$5K	—	100x
Hyperliquid WLD	+0.0318%	1h	0.4595	+0.139%	$50.5M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0478%	1h	0.4596	+0.153%	$889K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4608	+0.422%	$270K	$1.7M	50x	as long as short