Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Backpack against KuCoin+0.090%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$590.586% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.090%, 7d avg +0.039%

Together, before fees+0.005%+$1 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 0.052% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WLDUSDTM	0.4538	0.0100	pay 0.0100% / 8h	45m 32s	$6.6M	$11.6M	50x
Short	Backpack WLD_USDC_PERP	0.4542	0.0100	get 0.0013% / 1h	45m 32s	$132K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → +0.039%: $5.16
Slippage, 4 orders: −$36.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$53.44
Costs to cover: 0.586%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Backpack: live order book, 58 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 KuCoin live order book, 3 min ago	1.10 bp	24.7 bp −$25	45.7 bp −$457	doesn't fit	doesn't fit
Sell Backpack live order book, 58 min ago	1.32 bp	8.1 bp −$8	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
Injective WLD/USDC PERP	−0.0309%	1h	0.4524	−0.309%	$6K	$185K	5.5x	as long as short
Nado WLD-PERP	−0.0060%	1h	0.4538	+0.011%	$237K	$167K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4541	+0.057%	$155K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4545	+0.154%	$42K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4543	+0.110%	$141K	$982K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4541	+0.061%	$66K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4543	+0.110%	$27K	$723K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4541	+0.071%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4540	+0.054%	$49K	$532K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4539	+0.024%	$87.0M	$333.5M	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	0.4537	−0.022%	$64.5M	$89.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4539	+0.022%	$34.3M	$152.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4539	+0.022%	$7.2M	$35.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4541	+0.066%	$41.5M	$56.2M	300x	as long as short
KuCoin WLDUSDTMlong	+0.0100%	8h	0.4538	long leg	$6.6M	$11.6M	50x
Bitget WLDUSDT	+0.0100%	8h	0.4539	+0.022%	$30.1M	$30.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4540	+0.044%	—	$69.7M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4542	+0.090%	$132K	$298K	10x
Variational Omni WLD	+0.0100%	8h	0.4547	+0.190%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4556	+0.386%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4547	+0.198%	$607K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4536	−0.044%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4546	+0.176%	$50K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4552	+0.309%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4544	+0.132%	$217	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4544	+0.132%	$831K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4542	+0.088%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4538	−0.006%	$210K	$945K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4545	+0.143%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4545	+0.148%	—	—	20x	as long as short
Lighter WLD	+0.0160%	1h	0.4546	+0.183%	$4.9M	$2.9M	10x	as long as short
Phoenix WLD	+0.0177%	1h	0.4551	+0.284%	$5K	$43K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4546	+0.174%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4546	+0.176%	$4.8M	$909K	75x	as long as short
01 Exchange WLDUSD	+0.0232%	1h	0.4543	+0.115%	$325	$55	5x	as long as short
Hyperliquid WLD	+0.0432%	1h	0.4546	+0.178%	$50.5M	$43.9M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4550	+0.264%	$273K	$1.6M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0454%	1h	0.4545	+0.160%	$869K	$2.8M	50x	as long as short