WLD

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0596%/8h= −65.3% APRnext payment −$0.75 per $10,000 · paid last 24h −0.041%

Price spread now: Backpack against Hyperliquid−0.106%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now −0.106%, 7d avg −0.087%

Together, before fees−0.196%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.087%, so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.054% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.75 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLD	0.4715	0.0696	pay 0.0087% / 1h	52m 18s	$52.8M	$44.4M	10x
Short	Backpack WLD_USDC_PERP	0.4710	0.0100	get 0.0013% / 1h	52m 18s	$140K	$285K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$125.25
Price spread: −0.106% → −0.087%: −$1.91
Slippage, 4 orders: −$10.81
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$156.97
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Backpack: live order book, 16 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 Hyperliquid live order book, 11 min ago	1.17 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 16 min ago	0.42 bp	7.2 bp −$7	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	−0.2440%	1h	0.4679	−0.770%	$57K	$233K	50x	as long as short
Injective WLD/USDC PERP	−0.0235%	1h	0.4675	−0.855%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0158%	8h	0.4689	−0.558%	$30K	$4.2M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0024%	8h	0.4707	−0.176%	$7.0M	$11.3M	50x	as long as short
Nado WLD-PERP	−0.0009%	1h	0.4708	−0.144%	$273K	$178K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4709	−0.128%	$161K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4708	−0.155%	$132K	$909K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4710	−0.115%	$67K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0053%	8h	0.4708	−0.155%	$29K	$899K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4667	−1.014%	$5K	$54K	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	0.4707	−0.173%	$182K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4712	−0.071%	$55K	$487K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4712	−0.070%	$90.0M	$318.1M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4709	−0.134%	$67.7M	$85.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4707	−0.176%	$35.5M	$152.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4711	−0.091%	$7.5M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4708	−0.155%	$48.3M	$54.5M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4706	−0.197%	$31.4M	$28.4M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4713	−0.049%	—	$67.5M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4710	−0.106%	$140K	$285K	10x
Variational Omni WLD	+0.0100%	8h	0.4647	−1.453%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4676	−0.830%	$28K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4661	−1.151%	$617K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4716	+0.006%	$69K	$1.9M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4713	−0.049%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4707	−0.176%	$227	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4702	−0.282%	$890K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4704	−0.240%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4706	−0.191%	$217K	$879K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4709	−0.134%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4705	−0.223%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4702	−0.282%	$5.1M	$879K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0240% / S −0.1538%	1h	0.4710	−0.103%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0296%	1h	0.4723	+0.168%	$338	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4718	+0.057%	$277K	$1.7M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0636%	1h	0.4708	−0.152%	$934K	$2.8M	50x	as long as short
Lighter WLD	+0.0696%	1h	0.4718	+0.068%	$5.3M	$2.1M	10x	as long as short
Hyperliquid WLDlong	+0.0696%	1h	0.4715	long leg	$52.8M	$44.4M	10x