Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Backpack against OKX+0.053%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.345% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.165%−$17 · spread now +0.053%, 7d avg +0.054%

Together, before fees−0.085%−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WLD-USDT-SWAP	0.4556	0.0100	pay 0.0100% / 8h	1h 55m	$34.1M	$139.1M	50x
Short	Backpack WLD_USDC_PERP	0.4558	0.0100	get 0.0013% / 1h	55m 05s	$129K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.054%: −$0.11
Slippage, 4 orders: −$14.46
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.57
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 28 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 OKX live order book, 4 min ago	1.11 bp	8.1 bp −$8	20.5 bp −$205	doesn't fit	doesn't fit
Sell Backpack live order book, 28 min ago	0.44 bp	13.6 bp −$14	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
Kalshi KXWLDPERP	−0.0468%	8h	0.4551	−0.110%	$45K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−0.746%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0012%	8h	0.4558	+0.044%	$28K	$915K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4556	+0.002%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4558	+0.044%	$121K	$916K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4558	+0.051%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0005%	8h	0.4556	0.000%	$7.0M	$10.7M	50x	as long as short
Variational Omni WLD	+0.0035%	8h	0.4542	−0.305%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0049%	1h	0.4557	+0.022%	$273K	$169K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4547	−0.206%	$5K	$53K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4556	−0.005%	$213K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4555	−0.012%	$51K	$481K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4557	+0.022%	$85.6M	$293.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4556	0.000%	$64.9M	$80.5M	50x	as long as short
OKX WLD-USDT-SWAPlong	+0.0100%	8h	0.4556	long leg	$34.1M	$139.1M	50x
Gate WLD_USDT	+0.0100%	8h	0.4558	+0.044%	$7.4M	$34.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4557	+0.022%	$59.9M	$49.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4557	+0.022%	$30.2M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4557	+0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4558	+0.053%	$129K	$270K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4519	−0.818%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4545	−0.241%	$609K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4538	−0.395%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4560	+0.081%	$48K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4564	+0.176%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4557	+0.022%	$199	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4558	+0.044%	$860K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4558	+0.044%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4555	−0.027%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4558	+0.044%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4557	+0.015%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0187%	1h	0.4563	+0.162%	$926K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4557	+0.022%	$4.8M	$817K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0250% / S −0.2105%	1h	0.4557	+0.023%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4564	+0.167%	$326	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4531	−0.549%	$277K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0670%	1h	0.4564	+0.180%	$47.7M	$41.9M	10x	as long as short
Lighter WLD	+0.0760%	1h	0.4567	+0.237%	$5.2M	$2.0M	10x	as long as short