Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.010%

Price spread now: Binance against Phoenix−0.046%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.046% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 4.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.001% in total) that is about 21 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix WLD	0.4597	0.0052	pay 0.0006% / 1h	53m 03s	$5K	$52K	10x
Short	Binance WLDUSDT	0.4595	0.0088	get 0.0088% / 8h	2h 53m	$87.8M	$288.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.046%Rate

Funding earned: $7.53
Price spread: −0.046% → 0.000%: −$4.56
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$14.03
Costs to cover: 0.170%
Break-even: 20.0 days

Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 6 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	1.08 bp	7.3 bp −$7	16.2 bp −$162	52.2 bp −$5,220	184.4 bp −$92.2K

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0406%	8h	0.4601	+0.078%	$31K	$3.7M	1.7x	as long as short
Variational Omni WLD	−0.0069%	8h	0.4630	+0.719%	$2.1M	$1.7M	—	as long as short
Orderly PERP_WLD_USDC	−0.0029%	8h	0.4594	−0.074%	$28K	$921K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4601	+0.067%	$157K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4595	−0.052%	$154K	$785K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4599	+0.027%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0012%	8h	0.4592	−0.117%	$7.0M	$10.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0036%	8h	0.4592	−0.117%	$34.7M	$137.6M	50x	as long as short
Phoenix WLDlong	+0.0052%	1h	0.4597	long leg	$5K	$52K	10x
Bybit WLDUSDT	+0.0061%	8h	0.4594	−0.074%	$67.5M	$78.5M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WLD-PERP	+0.0079%	1h	0.4602	+0.111%	$275K	$168K	5x	as long as short
MEXC WLD_USDT	+0.0086%	8h	0.4595	−0.052%	$54.1M	$46.3M	300x	as long as short
Binance WLDUSDTshort	+0.0088%	8h	0.4595	−0.046%	$87.8M	$288.8M	75x
Aster WLDUSDT	+0.0100%	8h	0.4601	+0.069%	$210K	$977K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4598	+0.009%	$55K	$475K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4592	−0.117%	$7.5M	$33.9M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4592	−0.117%	$30.3M	$24.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4595	−0.052%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4596	−0.026%	$130K	$281K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4620	+0.482%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4607	+0.208%	$624K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4632	+0.753%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4603	+0.124%	$56K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4599	+0.035%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4594	−0.074%	$199	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4596	−0.030%	$865K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4594	−0.074%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4592	−0.116%	$134K	$744K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4596	−0.031%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4600	+0.048%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0208%	8h	0.4593	−0.096%	$5.0M	$881K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1831%	1h	0.4597	−0.005%	$9K	—	100x	as long as short
Hyperliquid WLD	+0.0357%	1h	0.4600	+0.048%	$47.8M	$40.4M	10x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+0.535%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4605	+0.165%	$277K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0784%	1h	0.4628	+0.674%	$331	$77	5x	as long as short
Lighter WLD	+0.0904%	1h	0.4605	+0.161%	$5.1M	$1.9M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1085%	1h	0.4597	−0.009%	$922K	$2.5M	50x	as long as short