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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: Phemex against MEXC+0.066%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$830.831% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now +0.066%, 7d avg +0.019%

Together, before fees+0.210%+$21 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: Phemex is 0.047% dearer against MEXC than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WLD_USDT	0.4540	0.0100	pay 0.0100% / 8h	2h 15m	$39.5M	$56.1M	300x
Short	Phemex WLDUSDT	0.4543	0.0100	get 0.0100% / 8h	2h 15m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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 MEXCbpFee PhemexbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → +0.019%: $4.72
Slippage, 4 orders: −$71.13
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$78.42
Costs to cover: 0.831%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Phemex: live order book, 3 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 MEXC live order book, 4 min ago	1.10 bp	1.1 bp −$1	5.3 bp −$53	20.2 bp −$2,025	74.7 bp −$37.3K
Sell Phemex live order book, 3 min ago	6.60 bp	39.1 bp −$39	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
Nado WLD-PERP	−0.0050%	1h	0.4546	+0.143%	$242K	$209K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4547	+0.148%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4548	+0.176%	$47K	$4.8M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4541	+0.019%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0054%	8h	0.4541	+0.022%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0056%	1h	0.4546	+0.130%	$325	$55	5x	as long as short
Polymarket Perps WLD-USD	+0.0077%	1h	0.4543	+0.062%	$40K	$2.4M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4541	+0.022%	$28K	$793K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4543	+0.075%	$227K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4547	+0.154%	$51K	$539K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4544	+0.082%	$86.6M	$338.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4542	+0.044%	$64.7M	$91.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4542	+0.044%	$34.3M	$154.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4541	+0.022%	$7.2M	$37.6M	75x	as long as short
MEXC WLD_USDTlong	+0.0100%	8h	0.4540	long leg	$39.5M	$56.1M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4542	+0.044%	$30.0M	$31.0M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4541	+0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4547	+0.145%	$135K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4542	+0.039%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4542	+0.041%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4535	−0.111%	$605K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4544	+0.088%	$48K	$240K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4552	+0.264%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4543	+0.066%	$206	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4540	0.000%	$831K	$1.7M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4543	+0.066%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4541	+0.029%	$222K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4540	+0.006%	$31K	$600	3x	as long as short
Lighter WLD	+0.0120%	1h	0.4548	+0.174%	$4.9M	$2.9M	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4540	+0.006%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4534	−0.137%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4544	+0.088%	$6K	$185K	5.5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0190%	1h	0.4543	+0.066%	$145K	$1.0M	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4539	−0.031%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4541	+0.022%	$4.8M	$922K	75x	as long as short
Hyperliquid WLD	+0.0294%	1h	0.4549	+0.207%	$49.3M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0499%	1h	0.4546	+0.133%	$865K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4553	+0.286%	$277K	$1.7M	50x	as long as short