Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0401%/8h= −43.9% APRpaid last 24h −0.037%

Price spread now: BingX against Kraken Futures+0.003%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$710.710% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.803%−$80 · spread now +0.003%, 7d avg −0.055%

Together, before fees−0.874%−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.058% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.003% now, against its 7-day average of −0.055%): +$6 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.071% in total) that is about 5.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% 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	0.4522	0.0501	pay 0.0063% / 1h	56m 37s	$866K	$2.9M	50x
Short	BingX WLD-USDC	0.4522	0.0100	get 0.0100% / 8h	2h 56m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$84.24
Price spread: +0.003% → −0.055%: $5.8
Slippage, 4 orders: −$51.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$149.46
Costs to cover: 0.710%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; BingX: live order book, 4 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, 2 min ago	1.11 bp	14.7 bp −$15	28.4 bp −$284	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	2.23 bp	20.2 bp −$20	75.2 bp −$752	496.4 bp −$49.6K	775.7 bp −$387.9K

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	−0.0077%	1h	0.4512	−0.207%	$239K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4521	−0.028%	$154K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4515	−0.152%	$72K	$4.8M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4517	−0.110%	$65K	—	150x	as long as short
01 Exchange WLDUSD	+0.0024%	1h	0.4512	−0.210%	$323	$55	5x	as long as short
KuCoin WLDUSDTM	+0.0035%	8h	0.4523	+0.025%	$6.8M	$11.8M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4519	−0.064%	$28K	$861K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4514	−0.171%	$225K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4521	−0.017%	$47K	$533K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4522	+0.003%	$85.9M	$336.0M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4522	+0.003%	$64.2M	$91.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4521	−0.020%	$34.1M	$153.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4523	+0.025%	$7.2M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4523	+0.025%	$39.1M	$55.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4520	−0.042%	$29.7M	$30.7M	75x	as long as short
BingX WLD-USDCshort	+0.0100%	8h	0.4522	+0.003%	—	$1.3M	—
Variational Omni WLD	+0.0100%	8h	0.4481	−0.910%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4480	−0.933%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4488	−0.740%	$595K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4494	−0.617%	$48K	$240K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4513	−0.199%	$55K	$2.4M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4509	−0.285%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4520	−0.042%	$208	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4518	−0.086%	$825K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4524	+0.047%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4523	+0.020%	$221K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4519	−0.067%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4517	−0.119%	—	—	20x	as long as short
Backpack WLD_USDC_PERP	+0.0139%	1h	0.4528	+0.133%	$134K	$305K	10x	as long as short
Phoenix WLD	+0.0157%	1h	0.4490	−0.712%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4538	+0.356%	$6K	$185K	5.5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0193%	1h	0.4521	−0.020%	$131K	$1.0M	25x	as long as short
Lighter WLD	+0.0208%	1h	0.4524	+0.053%	$4.9M	$2.9M	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4517	−0.101%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4521	−0.020%	$4.8M	$928K	75x	as long as short
Hyperliquid WLD	+0.0272%	1h	0.4524	+0.038%	$49.0M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSDlong	+0.0501%	1h	0.4522	long leg	$866K	$2.9M	50x
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4525	+0.069%	$266K	$1.7M	50x	as long as short