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: Binance against Phemex+0.067%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1011.015% of the position

Long on Phemex Short on Binance

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)−0.249%−$25 · spread now +0.067%, 7d avg −0.013%

Together, before fees−0.358%−$36 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: Binance is 0.080% dearer against Phemex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4486	0.0100	pay 0.0100% / 8h	2h 23m	$1.8M	$3.7M	50x
Short	Binance WLDUSDT	0.4489	0.0100	get 0.0100% / 8h	2h 23m	$85.5M	$338.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → −0.013%: $8.01
Slippage, 4 orders: −$79.47
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$93.46
Costs to cover: 1.015%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Binance: 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 Phemex live order book, 6 min ago	5.59 bp	45.6 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	1.12 bp	9.5 bp −$10	17.1 bp −$171	49.2 bp −$4,923	162.0 bp −$81.0K

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	−0.0054%	1h	0.4481	−0.100%	$241K	$207K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4487	+0.013%	$153K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4484	−0.045%	$69K	$4.8M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4485	−0.022%	$143K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4483	−0.070%	$65K	—	150x	as long as short
Polymarket Perps WLD-USD	+0.0038%	1h	0.4479	−0.152%	$41K	$2.4M	10x	as long as short
01 Exchange WLDUSD	+0.0040%	1h	0.4481	−0.105%	$321	$55	5x	as long as short
KuCoin WLDUSDTM	+0.0047%	8h	0.4482	−0.089%	$6.7M	$11.9M	50x	as long as short
Lighter WLD	+0.0096%	1h	0.4490	+0.082%	$4.9M	$2.9M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4482	−0.089%	$28K	$798K	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	0.4486	+0.010%	$224K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4486	+0.001%	$50K	$542K	5x	as long as short
Binance WLDUSDTshort	+0.0100%	8h	0.4489	+0.067%	$85.5M	$338.1M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4485	−0.022%	$63.8M	$91.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4485	−0.022%	$33.8M	$152.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4486	0.000%	$7.3M	$37.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4486	0.000%	$38.9M	$55.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4487	+0.022%	$29.5M	$30.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4486	0.000%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4488	+0.047%	$133K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4475	−0.251%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4470	−0.351%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4485	−0.027%	$592K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4473	−0.290%	$48K	$240K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4486	0.000%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4484	−0.045%	$204	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4481	−0.111%	$820K	$1.7M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4486	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4480	−0.128%	$219K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4484	−0.038%	$30K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4480	−0.139%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4480	−0.136%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	+0.602%	$6K	$185K	5.5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4482	−0.095%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4488	+0.045%	$4.8M	$920K	75x	as long as short
Hyperliquid WLD	+0.0253%	1h	0.4491	+0.100%	$48.5M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0505%	1h	0.4486	−0.008%	$853K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4497	+0.245%	$273K	$1.6M	50x	as long as short