Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0398%/8h= −43.6% APRpaid last 24h −0.054%

Price spread now: Binance against Kraken Futures−0.104%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now −0.104%, 7d avg −0.048%

Together, before fees−0.294%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Binance is 0.056% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.177% in total (about -9.2% a year). A funding rate is set anew for every payment. 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	Kraken Futures PF_WLDUSD	0.4548	0.0498	pay 0.0062% / 1h	18m 12s	$866K	$2.9M	50x
Short	Binance WLDUSDT	0.4544	0.0100	get 0.0100% / 8h	2h 18m	$86.6M	$338.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.104%Rate

Funding earned: −$83.63
Price spread: −0.104% → −0.048%: −$5.58
Slippage, 4 orders: −$30.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$139.77
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Binance: live order book, 10 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 Kraken Futures live order book, 5 min ago	4.46 bp	18.0 bp −$18	28.7 bp −$287	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	1.12 bp	9.5 bp −$10	17.1 bp −$171	49.2 bp −$4,923	162.0 bp −$81.0K

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
Nado WLD-PERP	−0.0056%	1h	0.4540	−0.174%	$244K	$207K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4533	−0.345%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4530	−0.405%	$53K	$4.8M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4540	−0.184%	$66K	—	150x	as long as short
01 Exchange WLDUSD	+0.0048%	1h	0.4537	−0.260%	$325	$55	5x	as long as short
KuCoin WLDUSDTM	+0.0050%	8h	0.4537	−0.251%	$6.7M	$11.9M	50x	as long as short
Polymarket Perps WLD-USD	+0.0063%	1h	0.4538	−0.234%	$41K	$2.4M	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4549	+0.019%	$4.9M	$2.9M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4541	−0.163%	$28K	$797K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4542	−0.141%	$226K	$1.1M	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	0.4534	−0.311%	$50K	$539K	5x	as long as short
Binance WLDUSDTshort	+0.0100%	8h	0.4544	−0.104%	$86.6M	$338.4M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4543	−0.119%	$64.7M	$91.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4542	−0.141%	$34.3M	$154.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4541	−0.163%	$7.2M	$37.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4543	−0.119%	$39.3M	$56.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4544	−0.097%	$29.9M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4540	−0.185%	—	$70.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4537	−0.245%	$135K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4510	−0.851%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4512	−0.800%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4491	−1.267%	$599K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4482	−1.460%	$48K	$240K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4547	−0.031%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4545	−0.075%	$212	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4539	−0.207%	$831K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4544	−0.097%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4542	−0.145%	$222K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4535	−0.306%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4540	−0.190%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4514	−0.748%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	−0.779%	$6K	$185K	5.5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0190%	1h	0.4544	−0.097%	$145K	$1.0M	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4540	−0.182%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4535	−0.295%	$4.8M	$921K	75x	as long as short
Hyperliquid WLD	+0.0257%	1h	0.4545	−0.071%	$49.1M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSDlong	+0.0498%	1h	0.4548	long leg	$866K	$2.9M	50x
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4548	−0.009%	$277K	$1.7M	50x	as long as short