Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Backpack against HTX+0.163%7-day average +0.190% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$880.876% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)−0.378%−$38 · spread now +0.163%, 7d avg +0.190%

Together, before fees−0.355%−$35 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 0.027% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.190%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX WLD-USDT	0.4653	0.0100	pay 0.0100% / 8h	5h 20m	$850K	$1.9M	50x
Short	Backpack WLD_USDC_PERP	0.4661	0.0100	get 0.0013% / 1h	20m 25s	$135K	$293K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now +0.163%Rate

Funding earned: $0
Price spread: +0.163% → +0.190%: −$2.66
Slippage, 4 orders: −$65.58
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$90.24
Costs to cover: 0.876%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Backpack: live order book, 43 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 HTX live order book, 3 min ago	7.51 bp	54.7 bp −$55	334.3 bp −$3,343	doesn't fit	doesn't fit
Sell Backpack live order book, 43 min ago	0.86 bp	10.4 bp −$10	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
Kalshi KXWLDPERP	−0.0126%	8h	0.4663	+0.215%	$57K	$4.6M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0027%	8h	0.4650	−0.064%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4655	+0.044%	$166K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4661	+0.172%	$120K	$918K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4653	−0.003%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0012%	1h	0.4651	−0.043%	$269K	$187K	5x	as long as short
01 Exchange WLDUSD	+0.0064%	1h	0.4651	−0.041%	$333	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0075%	8h	0.4660	+0.150%	$28K	$892K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4658	+0.115%	$175K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4656	+0.063%	$49K	$511K	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	0.4653	0.000%	$88.3M	$325.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4650	−0.064%	$66.5M	$88.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4650	−0.064%	$35.1M	$150.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4654	+0.021%	$7.3M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4651	−0.043%	$46.1M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4651	−0.043%	$30.7M	$29.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4652	−0.021%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4661	+0.163%	$135K	$293K	10x
Variational Omni WLD	+0.0100%	8h	0.4658	+0.100%	$2.2M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4633	−0.433%	$28K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4667	+0.311%	$622K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4664	+0.236%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4652	−0.021%	$55K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4666	+0.279%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4660	+0.150%	$178	$5K	10x	as long as short
HTX WLD-USDTlong	+0.0100%	8h	0.4653	long leg	$850K	$1.9M	50x
Phemex WLDUSDT	+0.0100%	8h	0.4660	+0.150%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4648	−0.101%	$215K	$929K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4660	+0.158%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4650	−0.073%	—	—	20x	as long as short
Lighter WLD	+0.0168%	1h	0.4659	+0.140%	$5.1M	$2.3M	10x	as long as short
Phoenix WLD	+0.0172%	1h	0.4661	+0.161%	$5K	$57K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4661	+0.172%	$5.0M	$809K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4652	−0.031%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0472%	1h	0.4658	+0.116%	$51.8M	$42.6M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4666	+0.279%	$276K	$1.7M	50x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4616	−0.795%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0888%	1h	0.4662	+0.193%	$902K	$2.9M	50x	as long as short