Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.033%

Price spread now: Phemex against Nado−0.033%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1061.055% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.146%+$15 on $10k

Price spread, last 4 days (all we have)+0.245%+$25 · spread now −0.033%, 7d avg +0.039%

Together, before fees+0.391%+ Points / potential airdropNado: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.073% cheaper against Nado than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.039%). If the spread goes back, that is −$7 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WLD-PERP	0.4508	0.0024	pay 0.0003% / 1h	33m 43s	$237K	$170K	5x
Short	Phemex WLDUSDT	0.4507	0.0100	get 0.0100% / 8h	1h 33m	$1.8M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now −0.033%Rate

Funding earned: $15.88
Price spread: −0.033% → +0.039%: −$7.26
Slippage, 4 orders: −$86.51
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$96.9
Costs to cover: 1.055%
Break-even: 49.7 days

Slippage from Nado: live order book, 9 min ago; Phemex: live order book, 5 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 Nado live order book, 9 min ago	7.28 bp	12.6 bp −$13	33.1 bp −$331	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	9.96 bp	38.7 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
dYdX WLD-USD	0.0000%	1h	0.4513	+0.104%	$154K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4507	−0.033%	$55K	$4.8M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4505	−0.078%	$150K	$996K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4505	−0.078%	$65K	—	150x	as long as short
Nado WLD-PERPlong	+0.0024%	1h	0.4508	long leg	$237K	$170K	5x
KuCoin WLDUSDTM	+0.0082%	8h	0.4508	−0.011%	$6.7M	$11.9M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4505	−0.078%	$27K	$786K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4515	+0.141%	$226K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4516	+0.165%	$50K	$541K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4515	+0.133%	$86.1M	$340.2M	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	0.4515	+0.144%	$64.5M	$91.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4520	+0.255%	$34.1M	$153.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4508	−0.011%	$7.1M	$36.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4520	+0.255%	$40.4M	$57.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4520	+0.255%	$29.8M	$31.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4520	+0.255%	—	$70.0M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4509	+0.020%	$134K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4514	+0.116%	$2.0M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4520	+0.265%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4521	+0.280%	$596K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4522	+0.299%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4505	−0.087%	$47K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4511	+0.055%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4505	−0.078%	$212	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4511	+0.055%	$825K	$1.7M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4507	−0.033%	$1.8M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4519	+0.231%	$208K	$1.0M	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4506	−0.047%	$31K	$500	3x	as long as short
Lighter WLD	+0.0128%	1h	0.4521	+0.288%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0132%	1h	0.4581	+1.608%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4505	−0.071%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4510	+0.029%	$323	$55	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4526	+0.390%	$5K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4510	+0.027%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4506	−0.055%	$4.8M	$926K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4509	+0.011%	$272K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0598%	1h	0.4516	+0.164%	$49.4M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1050%	1h	0.4507	−0.033%	$865K	$2.9M	50x	as long as short