Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%

Price spread now: MEXC against Phemex+0.244%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)−0.911%−$91 · spread now +0.244%, 7d avg −0.021%

Together, before fees−0.998%−$100 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: MEXC is 0.265% dearer against Phemex than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4511	0.0100	pay 0.0100% / 8h	7h 49m	$1.7M	$3.6M	50x
Short	MEXC WLD_USDT	0.4522	0.0100	get 0.0100% / 8h	7h 49m	$41.9M	$55.5M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.244%Rate

Funding earned: $0
Price spread: +0.244% → −0.021%: $26.52
Slippage, 4 orders: −$74.66
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$60.14
Costs to cover: 0.867%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	7.75 bp	41.5 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.11 bp	1.1 bp −$1	4.4 bp −$44	21.0 bp −$2,102	75.6 bp −$37.8K

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
dYdX WLD-USD	0.0000%	1h	0.4521	+0.216%	$154K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4514	+0.067%	$36K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4510	−0.022%	$119K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	+0.310%	$65K	—	150x	as long as short
Nado WLD-PERP	+0.0005%	1h	0.4514	+0.067%	$234K	$175K	5x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4510	−0.022%	$27K	$627K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4519	+0.174%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4521	+0.213%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4520	+0.208%	$86.7M	$332.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4520	+0.200%	$63.9M	$89.3M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4523	+0.266%	$34.2M	$150.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4520	+0.200%	$7.1M	$34.5M	75x	as long as short
MEXC WLD_USDTshort	+0.0100%	8h	0.4522	+0.244%	$41.9M	$55.5M	300x
KuCoin WLDUSDTM	+0.0100%	8h	0.4518	+0.155%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4523	+0.266%	$29.9M	$31.0M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4521	+0.222%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4512	+0.024%	$131K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4523	+0.261%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4515	+0.086%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4518	+0.162%	$600K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4516	+0.111%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4516	+0.111%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4522	+0.244%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4509	−0.044%	$215	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4511	0.000%	$825K	$1.5M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4511	long leg	$1.7M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4522	+0.241%	$208K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4510	−0.022%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.067%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4510	−0.016%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0192%	1h	0.4525	+0.304%	$324	$55	5x	as long as short
Phoenix WLD	+0.0194%	1h	0.4520	+0.200%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4511	−0.008%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4525	+0.310%	$4.4M	$911K	75x	as long as short
Lighter WLD	+0.0264%	1h	0.4524	+0.288%	$4.9M	$2.9M	10x	as long as short
Hyperliquid WLD	+0.0277%	1h	0.4522	+0.244%	$50.1M	$43.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0304%	1h	0.4512	+0.028%	$868K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4527	+0.355%	$269K	$1.6M	50x	as long as short