Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%
Price spread now: Backpack against Phemex+0.078%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$1091.094% of the position
Funding, last 7 days−0.034%−$3 on $10k
+Price spread, last 3 days (all we have)−0.198%−$20 · spread now +0.078%, 7d avg +0.012%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.067% dearer against Phemex than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex WLDUSDT | 0.4610 | 0.0100 | pay 0.0100% / 8h | 7h 42m | $1.8M | $3.7M | 50x |
| Short | Backpack WLD_USDC_PERP | 0.4614 | 0.0100 | get 0.0013% / 1h | 42m 38s | $137K | $280K | 10x |
Phemex WLDUSDT
Backpack WLD_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: +0.078% → +0.012%
- $6.65
- Slippage, 4 orders
- −$87.43
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$102.78
- Costs to cover
- 1.094%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; Backpack: live order book, 31 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 Phemex live order book, 6 min ago | 13.10 bp | 41.9 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 31 min ago | 1.86 bp | 8.4 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXWLDPERP | −0.0193% | 8h | 0.4610 | 0.000% | $64K | $3.9M | 1.7x | as long as short |
| Nado WLD-PERP | −0.0029% | 1h | 0.4612 | +0.043% | $278K | $169K | 5x | as long as short |
| KuCoin WLDUSDTM | −0.0010% | 8h | 0.4606 | −0.087% | $7.0M | $11.1M | 50x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4616 | +0.126% | $165K | $13K | 10x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4614 | +0.089% | $57K | — | 150x | as long as short |
| Injective WLD/USDC PERP | +0.0038% | 1h | 0.4597 | −0.282% | $6K | $185K | 5.5x | as long as short |
| Orderly PERP_WLD_USDC | +0.0041% | 8h | 0.4616 | +0.130% | $28K | $903K | 10x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4611 | +0.027% | $192K | $984K | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4614 | +0.087% | $54K | $483K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4615 | +0.100% | $87.1M | $303.9M | 75x | as long as short |
Kalshi KXWLDPERP
Nado WLD-PERP
KuCoin WLDUSDTM
dYdX WLD-USD
gTrade (Gains Network) WLD/USD
Injective WLD/USDC PERP
Orderly PERP_WLD_USDC
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit WLDUSDT | +0.0100% | 8h | 0.4614 | +0.087% | $66.2M | $82.6M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4612 | +0.043% | $34.5M | $144.2M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4612 | +0.043% | $7.5M | $35.2M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4614 | +0.087% | $47.0M | $53.3M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4615 | +0.108% | $30.6M | $26.1M | 75x | as long as short |
| BingX WLD-USDC | +0.0100% | 8h | 0.4612 | +0.043% | — | $1.3M | — | as long as short |
| Backpack WLD_USDC_PERPshort | +0.0100% | 1h | 0.4614 | +0.078% | $137K | $280K | 10x | |
| Variational Omni WLD | +0.0100% | 8h | 0.4584 | −0.569% | $2.0M | $1.7M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4585 | −0.552% | $27K | $318K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4601 | −0.205% | $608K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4590 | −0.434% | $54K | $229K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4611 | +0.022% | $49K | $1.6M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4619 | +0.195% | $23K | $1.5M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4615 | +0.108% | $215 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4612 | +0.043% | $858K | $1.8M | 50x | as long as short |
| Phemex WLDUSDTlong | +0.0100% | 8h | 0.4610 | long leg | $1.8M | $3.7M | 50x | |
| Extended WLD-USD | +0.0104% | 1h | 0.4612 | +0.039% | $232K | $847K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4617 | +0.155% | $31K | $600 | 3x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4609 | −0.026% | — | — | 20x | as long as short |
| Phoenix WLD | +0.0157% | 1h | 0.4595 | −0.336% | $5K | $53K | 10x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4609 | −0.022% | $4.9M | $828K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0229% / S −0.1268% | 1h | 0.4614 | +0.094% | $5K | — | 100x | as long as short |
| 01 Exchange WLDUSD | +0.0248% | 1h | 0.4619 | +0.187% | $330 | $77 | 5x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0327% | 1h | 0.4613 | +0.074% | $909K | $2.7M | 50x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0448% | 1h | 0.4616 | +0.130% | $274K | $1.7M | 50x | as long as short |
| Deribit WLD_USDC-PERPETUAL | +0.0616% | 1h | 0.4621 | +0.239% | $124K | $861K | 25x | as long as short |
| Hyperliquid WLD | +0.0723% | 1h | 0.4617 | +0.163% | $51.4M | $43.5M | 10x | as long as short |
| Lighter WLD | +0.0936% | 1h | 0.4622 | +0.262% | $5.2M | $2.0M | 10x | as long as short |
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDC
Variational Omni WLD
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Extended WLD-USD
Aevo WLD-PERP
Reya WLDRUSDPERP
Phoenix WLD
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
01 Exchange WLDUSD
Kraken Futures PF_WLDUSD
Coinbase International WLD-PERP-INTX
Deribit WLD_USDC-PERPETUAL
Hyperliquid WLD
Lighter WLD