Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0039%/8h= −4.2% APRpaid last 24h −0.040%

Price spread now: Deribit against Phemex+0.042%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1171.169% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 3 days (all we have)−0.005%$0 · spread now +0.042%, 7d avg +0.026%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4714	0.0039	pay 0.0039% / 8h	7h 11m	$1.9M	$3.7M	50x
Short	Deribit WLD_USDC-PERPETUAL	0.4716	0	get 0.0000% / 1h	11m 04s	$135K	$863K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$8.13
Price spread: +0.042% → +0.026%: $1.59
Slippage, 4 orders: −$97.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$123.45
Costs to cover: 1.169%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Deribit: live order book, 63 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, 3 min ago	13.69 bp	52.3 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 63 min ago	4.36 bp	7.9 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	−0.0159%	8h	0.4726	+0.255%	$22K	$4.0M	1.7x	as long as short
Nado WLD-PERP	−0.0026%	1h	0.4723	+0.180%	$274K	$178K	5x	as long as short
KuCoin WLDUSDTM	−0.0011%	8h	0.4716	+0.042%	$7.1M	$11.1M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4725	+0.227%	$169K	$12K	10x	as long as short
Deribit WLD_USDC-PERPETUALshort	0.0000%	1h	0.4716	+0.042%	$135K	$863K	25x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4718	+0.085%	$56K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4744	+0.636%	$6K	$185K	5.5x	as long as short
Phemex WLDUSDTlong	+0.0039%	8h	0.4714	long leg	$1.9M	$3.7M	50x
Orderly PERP_WLD_USDC	+0.0050%	8h	0.4715	+0.021%	$29K	$900K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4721	+0.153%	$211K	$983K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4727	+0.271%	$55K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4723	+0.191%	$90.4M	$310.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4724	+0.212%	$68.4M	$83.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4725	+0.233%	$35.8M	$149.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4719	+0.106%	$7.6M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4720	+0.127%	$49.4M	$54.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4728	+0.297%	$31.7M	$27.3M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4720	+0.127%	—	$67.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4719	+0.115%	$140K	$277K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4717	+0.058%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4762	+1.027%	$28K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4749	+0.750%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4768	+1.146%	$58K	$232K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4725	+0.233%	$49K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4721	+0.148%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4717	+0.064%	$225	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4719	+0.106%	$898K	$1.9M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4727	+0.280%	$218K	$894K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4718	+0.077%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4721	+0.144%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4749	+0.751%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4720	+0.127%	$5.0M	$877K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0239% / S −0.1538%	1h	0.4718	+0.074%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4727	+0.267%	$338	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0319%	1h	0.4721	+0.147%	$935K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4731	+0.361%	$278K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0875%	1h	0.4728	+0.303%	$53.0M	$44.1M	10x	as long as short
Lighter WLD	+0.1016%	1h	0.4730	+0.342%	$5.3M	$2.0M	10x	as long as short