Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Extended against Phemex+0.033%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$940.939% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.296%+$30 on $10k

Price spread, last 3 days (all we have)−0.429%−$43 · spread now +0.033%, 7d avg −0.069%

Together, before fees−0.134%+ Points / potential airdropExtended: Active · farm board−$13 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: Extended is 0.102% dearer against Phemex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4550	0.0100	pay 0.0100% / 8h	2h 31m	$1.8M	$3.8M	50x
Short	Extended WLD-USD	0.4551	0.0104	get 0.0013% / 1h	31m 46s	$133K	$745K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0.84
Price spread: +0.033% → −0.069%: $10.16
Slippage, 4 orders: −$76.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$82.91
Costs to cover: 0.939%
Break-even: 697.9 days

Slippage from Phemex: live order book, 2 min ago; Extended: live order book, 56 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	6.59 bp	42.3 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 56 min ago	2.18 bp	4.7 bp −$5	9.9 bp −$99	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	−0.0515%	8h	0.4551	+0.022%	$44K	$3.8M	1.7x	as long as short
Variational Omni WLD	−0.0030%	8h	0.4535	−0.322%	$2.1M	$1.6M	—	as long as short
Orderly PERP_WLD_USDC	−0.0025%	8h	0.4549	−0.022%	$28K	$917K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4551	+0.028%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4550	0.000%	$128K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4550	+0.011%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0019%	8h	0.4550	0.000%	$7.0M	$10.7M	50x	as long as short
Nado WLD-PERP	+0.0044%	1h	0.4547	−0.066%	$271K	$168K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4536	−0.314%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0062%	8h	0.4547	−0.066%	$34.0M	$137.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLD	+0.0100%	1h	0.4555	+0.099%	$47.1M	$40.7M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4555	+0.102%	$215K	$981K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4551	+0.015%	$51K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4549	−0.016%	$85.7M	$292.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4548	−0.044%	$65.1M	$80.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4552	+0.044%	$7.5M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4549	−0.022%	$52.9M	$47.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4549	−0.022%	$30.1M	$25.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4549	−0.022%	—	$67.9M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4552	+0.051%	$129K	$275K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4538	−0.264%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4547	−0.062%	$614K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4543	−0.154%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4550	−0.011%	$54K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4556	+0.132%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4549	−0.022%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4548	−0.044%	$858K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4550	long leg	$1.8M	$3.8M	50x
Extended WLD-USDshort	+0.0104%	1h	0.4551	+0.033%	$133K	$745K	10x
Aevo WLD-PERP	+0.0104%	1h	0.4550	+0.010%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4548	−0.037%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4549	−0.014%	$12K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4545	−0.110%	$4.9M	$801K	75x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.582%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4556	+0.132%	$280K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0440%	1h	0.4554	+0.081%	$326	$77	5x	as long as short
Lighter WLD	+0.1040%	1h	0.4559	+0.193%	$5.1M	$2.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1096%	1h	0.4552	+0.047%	$922K	$2.6M	50x	as long as short