Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Phemex against GRVT+0.390%77s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1541.540% of the position

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.168%−$17 · spread now +0.390%, 7d avg +0.050%

Together, before fees−0.148%+ Points / potential airdropGRVT: Active · farm board−$15 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: Phemex is 0.340% dearer against GRVT than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of +0.050%. The two prices were read 77 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	GRVT WLD_USDT_Perp	0.4708	0.0100	pay 0.0100% / 8h	6h 50m	$623K	$1.9M	10x
Short	Phemex WLDUSDT	0.4726	0.0100	get 0.0100% / 8h	6h 50m	$1.9M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against GRVT. 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 GRVTbpFee PhemexbpOrdersPrice spread, now +0.390%Rate

Funding earned: $0
Price spread: +0.390% → +0.050%: $34.04
Slippage, 4 orders: −$132.97
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$119.93
Costs to cover: 1.540%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Phemex: live order book, 3 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 GRVT live order book, 3 min ago	2.12 bp	13.4 bp −$13	21.2 bp −$212	165.2 bp −$16.5K	doesn't fit
Sell Phemex live order book, 3 min ago	11.71 bp	55.1 bp −$55	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
ApeX Omni WLDUSDT	−0.0349%	1h	0.4701	−0.141%	$51K	$243K	50x	as long as short
Injective WLD/USDC PERP	−0.0235%	1h	0.4675	−0.693%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0156%	8h	0.4697	−0.226%	$29K	$4.2M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0025%	8h	0.4725	+0.369%	$7.1M	$11.4M	50x	as long as short
Nado WLD-PERP	−0.0007%	1h	0.4724	+0.358%	$274K	$178K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4719	+0.248%	$161K	$19K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4725	+0.369%	$67K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0053%	8h	0.4725	+0.369%	$29K	$899K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4715	+0.154%	$5K	$54K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4725	+0.369%	$182K	$1.0M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4719	+0.248%	$55K	$487K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4724	+0.348%	$90.4M	$318.6M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4722	+0.305%	$68.0M	$85.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4724	+0.348%	$35.7M	$152.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4726	+0.390%	$7.5M	$36.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4727	+0.411%	$48.3M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4727	+0.411%	$31.6M	$28.4M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4726	+0.390%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4703	−0.101%	$140K	$285K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4706	−0.040%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4688	−0.407%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perplong	+0.0100%	8h	0.4708	long leg	$623K	$1.9M	10x
Polymarket Perps WLD-USD	+0.0100%	1h	0.4730	+0.471%	$69K	$1.9M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4732	+0.518%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4729	+0.454%	$225	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4721	+0.284%	$894K	$1.9M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4726	+0.390%	$1.9M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4726	+0.389%	$218K	$879K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4728	+0.422%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4724	+0.343%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0173%	1h	0.4729	+0.454%	$133K	$909K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4696	−0.247%	$5.0M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0240% / S −0.1538%	1h	0.4726	+0.384%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0328%	1h	0.4732	+0.518%	$339	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4728	+0.433%	$278K	$1.7M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0633%	1h	0.4732	+0.507%	$939K	$2.8M	50x	as long as short
Hyperliquid WLD	+0.0742%	1h	0.4734	+0.558%	$53.0M	$44.5M	10x	as long as short
Lighter WLD	+0.0800%	1h	0.4732	+0.509%	$5.4M	$2.1M	10x	as long as short