Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.034%

Price spread now: Nado against Phemex+0.122%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1491.489% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.146%−$15 on $10k

Price spread, last 4 days (all we have)−0.314%−$31 · spread now +0.122%, 7d avg −0.039%

Together, before fees−0.460%+ Points / potential airdropNado: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.161% dearer against Phemex than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of −0.039%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4514	0.0100	pay 0.0100% / 8h	7h 54m	$1.7M	$3.6M	50x
Short	Nado WLD-PERP	0.4519	0.0014	get 0.0002% / 1h	54m 13s	$234K	$175K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.122%Rate

Funding earned: −$18.1
Price spread: +0.122% → −0.039%: $16.13
Slippage, 4 orders: −$129.93
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$150.9
Costs to cover: 1.489%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Nado: live order book, 43 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	17.68 bp	55.3 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 43 min ago	5.42 bp	9.1 bp −$9	28.0 bp −$280	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
dYdX WLD-USD	0.0000%	1h	0.4517	+0.071%	$154K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4517	+0.066%	$40K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4515	+0.022%	$119K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4515	+0.028%	$65K	—	150x	as long as short
Nado WLD-PERPshort	+0.0014%	1h	0.4519	+0.122%	$234K	$175K	5x
Bybit WLDUSDT	+0.0058%	8h	0.4512	−0.044%	$63.8M	$89.4M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4514	0.000%	$27K	$631K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4515	+0.028%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4517	+0.068%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4514	−0.009%	$86.6M	$333.2M	75x	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	0.4513	−0.022%	$34.2M	$149.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4515	+0.022%	$7.1M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4514	0.000%	$41.8M	$55.5M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4511	−0.066%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4514	0.000%	$29.8M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4514	0.000%	—	$20.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4515	+0.029%	$131K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4509	−0.116%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4529	+0.336%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4528	+0.303%	$601K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4521	+0.155%	$48K	$238K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4519	+0.111%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4526	+0.266%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4514	0.000%	$218	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	+0.133%	$827K	$1.5M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4514	long leg	$1.7M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4511	−0.062%	$208K	$878K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4515	+0.022%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	−0.133%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4514	−0.005%	—	—	20x	as long as short
Phoenix WLD	+0.0177%	1h	0.4530	+0.348%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4515	+0.013%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4511	−0.066%	$4.4M	$895K	75x	as long as short
01 Exchange WLDUSD	+0.0224%	1h	0.4518	+0.091%	$323	$55	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0303%	1h	0.4515	+0.029%	$868K	$2.8M	50x	as long as short
Lighter WLD	+0.0328%	1h	0.4519	+0.117%	$4.9M	$2.9M	10x	as long as short
Hyperliquid WLD	+0.0357%	1h	0.4521	+0.166%	$50.2M	$43.0M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4525	+0.244%	$269K	$1.6M	50x	as long as short