Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0223%/8h= −24.4% APRnext payment −$0.28 per $10,000 · paid last 24h —

Price spread now: Reya against Hyperliquid+0.208%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.208% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.208% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLD	0.4606	0.0357	pay 0.0045% / 1h	54m 40s	$47.9M	$40.3M	10x
Short	Reya WLDRUSDPERP	0.4615	0.0134	get 0.0017% / 1h	54m 40s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.208%Rate

Funding earned: −$46.87
Price spread: +0.208% → 0.000%: $20.8
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$41.07
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 9 min ago; Reya: no order-book sample. 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 Hyperliquid live order book, 9 min ago	0.11 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0340%	8h	0.4618	+0.271%	$31K	$3.7M	1.7x	as long as short
Phoenix WLD	−0.0091%	1h	0.4637	+0.693%	$5K	$52K	10x	as long as short
Variational Omni WLD	−0.0069%	8h	0.4630	+0.542%	$2.1M	$1.7M	—	as long as short
Orderly PERP_WLD_USDC	−0.0029%	8h	0.4619	+0.293%	$28K	$921K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4594	−0.250%	$157K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4621	+0.337%	$156K	$781K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4618	+0.282%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0013%	8h	0.4597	−0.185%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0033%	8h	0.4587	−0.402%	$34.8M	$137.4M	50x	as long as short
Bybit WLDUSDT	+0.0058%	8h	0.4596	−0.206%	$67.6M	$78.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WLD-PERP	+0.0076%	1h	0.4619	+0.304%	$357K	$127K	5x	as long as short
MEXC WLD_USDT	+0.0086%	8h	0.4593	−0.271%	$54.3M	$46.2M	300x	as long as short
Binance WLDUSDT	+0.0087%	8h	0.4596	−0.204%	$87.8M	$288.6M	75x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4607	+0.029%	$211K	$977K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4596	−0.197%	$55K	$475K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4591	−0.315%	$7.5M	$33.9M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4588	−0.380%	$30.3M	$24.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4591	−0.315%	—	$67.9M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4619	+0.284%	$131K	$282K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4629	+0.515%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4633	+0.604%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4632	+0.575%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4617	+0.239%	$57K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4621	+0.337%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4620	+0.315%	$201	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4618	+0.271%	$869K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4620	+0.315%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4594	−0.249%	$134K	$744K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4621	+0.337%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERPshort	+0.0134%	1h	0.4615	+0.208%	—	—	20x
BloFin WLD-USDT	+0.0207%	8h	0.4616	+0.228%	$5.0M	$884K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1831%	1h	0.4618	+0.277%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0240%	1h	0.4628	+0.497%	$331	$77	5x	as long as short
Hyperliquid WLDlong	+0.0357%	1h	0.4606	long leg	$47.9M	$40.3M	10x
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+0.358%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4628	+0.489%	$280K	$1.6M	50x	as long as short
Lighter WLD	+0.0872%	1h	0.4607	+0.043%	$5.1M	$1.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1079%	1h	0.4622	+0.360%	$927K	$2.5M	50x	as long as short