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 −0.025%

Price spread now: Bybit against Phemex−0.172%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1291.289% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)−0.567%−$57 · spread now −0.172%, 7d avg −0.036%

Together, before fees−0.672%−$67 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: Bybit is 0.136% cheaper against Phemex than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4642	0.0100	pay 0.0100% / 8h	5h 41m	$1.9M	$3.7M	50x
Short	Bybit WLDUSDT	0.4634	0.0100	get 0.0100% / 8h	5h 41m	$66.2M	$87.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.172%Rate

Funding earned: $0
Price spread: −0.172% → −0.036%: −$13.6
Slippage, 4 orders: −$105.9
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$142.5
Costs to cover: 1.289%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago	17.25 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.08 bp	12.5 bp −$12	24.3 bp −$243	107.1 bp −$10.7K	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	−0.0141%	8h	0.4652	+0.215%	$58K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0038%	8h	0.4621	−0.452%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4625	−0.364%	$165K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4642	0.000%	$120K	$923K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4644	+0.039%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0068%	1h	0.4633	−0.194%	$268K	$187K	5x	as long as short
Orderly PERP_WLD_USDC	+0.0071%	8h	0.4640	−0.043%	$28K	$893K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4629	−0.291%	$176K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4626	−0.345%	$51K	$508K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4634	−0.172%	$88.0M	$325.0M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDTshort	+0.0100%	8h	0.4634	−0.172%	$66.2M	$87.9M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4633	−0.194%	$34.9M	$149.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4627	−0.323%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4627	−0.323%	$45.6M	$54.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4628	−0.302%	$30.7M	$29.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4631	−0.237%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4638	−0.086%	$138K	$290K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4628	−0.308%	$2.1M	$1.8M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4640	−0.039%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4659	+0.358%	$617K	$1.8M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4646	+0.086%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4646	+0.075%	$54K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4651	+0.194%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4642	0.000%	$296	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4644	+0.043%	$848K	$1.9M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4642	long leg	$1.9M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4628	−0.295%	$213K	$927K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4623	−0.401%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4643	+0.021%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4632	−0.209%	$331	$80	5x	as long as short
Phoenix WLD	+0.0172%	1h	0.4626	−0.349%	$5K	$57K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4655	+0.280%	$5.0M	$808K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4644	+0.045%	$5K	—	100x	as long as short
Lighter WLD	+0.0368%	1h	0.4628	−0.306%	$5.0M	$2.3M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4660	+0.388%	$278K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0531%	1h	0.4629	−0.284%	$51.5M	$42.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4650	+0.172%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0892%	1h	0.4642	−0.006%	$904K	$2.9M	50x	as long as short