Funding arb · Price arb /

WLD

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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 −0.027%

Price spread now: Variational Omni against Phemex−0.050%7-day average −0.027% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 4 days (all we have)−0.298%−$30 · spread now −0.050%, 7d avg −0.027%

Together, before fees−0.335%+ Points / potential airdropVariational Omni: Active · farm board−$33 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: Variational Omni is 0.023% cheaper against Phemex than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4569	0.0100	pay 0.0100% / 8h	4h 00m	$1.8M	$3.7M	50x
Short	Variational Omni WLD	0.4567	0.0100	get 0.0100% / 8h	4h 00m	$2.1M	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.027%: −$2.31
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.31
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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	7.66 bp	43.8 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	5.48 bp	doesn't fit	14.3 bp −$143	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
Nado WLD-PERP	−0.0047%	1h	0.4566	−0.077%	$242K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4567	−0.052%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4566	−0.066%	$53K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4565	−0.088%	$124K	$963K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4564	−0.115%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0008%	8h	0.4567	−0.044%	$6.9M	$11.7M	50x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4583	+0.306%	$6K	$185K	5.5x	as long as short
Lighter WLD	+0.0096%	1h	0.4572	+0.070%	$4.9M	$2.4M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4563	−0.131%	$28K	$885K	10x	as long as short
Polymarket Perps WLD-USD	+0.0099%	1h	0.4566	−0.074%	$40K	$2.2M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4568	−0.031%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4567	−0.044%	$49K	$527K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4566	−0.066%	$86.6M	$328.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4564	−0.109%	$65.0M	$89.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4566	−0.066%	$34.3M	$150.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4564	−0.109%	$7.2M	$37.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4564	−0.109%	$43.3M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4562	−0.153%	$30.2M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4563	−0.131%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4567	−0.037%	$136K	$299K	10x	as long as short
Variational Omni WLDshort	+0.0100%	8h	0.4567	−0.050%	$2.1M	$1.7M	—
edgeX WLDUSDC	+0.0100%	4h	0.4563	−0.140%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4567	−0.044%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4567	−0.044%	$43K	$238K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4566	−0.066%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4563	−0.131%	$175	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4565	−0.088%	$834K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4569	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4562	−0.159%	$218K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4564	−0.109%	$31K	$600	3x	as long as short
01 Exchange WLDUSD	+0.0128%	1h	0.4567	−0.037%	$327	$80	5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4564	−0.104%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4567	−0.055%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4563	−0.131%	$4.9M	$829K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4563	−0.132%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0334%	1h	0.4572	+0.070%	$50.2M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0481%	1h	0.4566	−0.063%	$881K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4575	+0.131%	$268K	$1.7M	50x	as long as short