Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.022%

Price spread now: BingX against Phoenix−0.226%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 BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 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. BingX is 0.226% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.226% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 16 days of funding at the current rate (+$1 a day).

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	51m 13s	$5K	$52K	10x
Short	BingX WLD-USDC	0.4587	0.0100	get 0.0100% / 8h	2h 51m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.226%Rate

Funding earned: $10.14
Price spread: −0.226% → 0.000%: −$22.62
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$29.48
Costs to cover: 0.170%
Break-even: 27.4 days

Slippage unknown: Phoenix: no order-book sample; BingX: live order book, 10 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 BingX live order book, 10 min ago	2.15 bp	12.2 bp −$12	35.7 bp −$357	476.4 bp −$47.6K	821.0 bp −$410.5K

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	−0.0452%	8h	0.4582	−0.335%	$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	−0.0028%	8h	0.4583	−0.313%	$28K	$920K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4582	−0.335%	$156K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4582	−0.335%	$154K	$785K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4588	−0.211%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0014%	8h	0.4585	−0.270%	$7.0M	$10.7M	50x	as long as short
ApeX Omni WLDUSDT	+0.0017%	1h	0.4600	+0.057%	$55K	$226K	50x	as long as short
OKX WLD-USDT-SWAP	+0.0040%	8h	0.4582	−0.335%	$34.6M	$137.5M	50x	as long as short
Phoenix WLDlong	+0.0052%	1h	0.4597	long leg	$5K	$52K	10x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0067%	8h	0.4586	−0.248%	$67.3M	$78.4M	50x	as long as short
Nado WLD-PERP	+0.0082%	1h	0.4586	−0.248%	$274K	$168K	5x	as long as short
MEXC WLD_USDT	+0.0088%	8h	0.4589	−0.183%	$53.7M	$46.5M	300x	as long as short
Binance WLDUSDT	+0.0091%	8h	0.4586	−0.238%	$87.6M	$289.1M	75x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4589	−0.184%	$210K	$977K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4581	−0.362%	$55K	$475K	5x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4586	−0.248%	$7.5M	$34.0M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4582	−0.335%	$30.3M	$24.9M	75x	as long as short
BingX WLD-USDCshort	+0.0100%	8h	0.4587	−0.226%	—	$1.3M	—
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4588	−0.198%	$130K	$281K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4599	+0.037%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4607	+0.208%	$624K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4589	−0.189%	$56K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4587	−0.226%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4581	−0.357%	$198	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4579	−0.400%	$862K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4580	−0.378%	$1.9M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4581	−0.365%	$134K	$744K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4584	−0.291%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4590	−0.169%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0211%	8h	0.4579	−0.400%	$5.0M	$879K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0223% / S −0.1831%	1h	0.4588	−0.203%	$9K	—	100x	as long as short
Hyperliquid WLD	+0.0349%	1h	0.4595	−0.063%	$47.7M	$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	0.4588	−0.204%	$276K	$1.6M	50x	as long as short
01 Exchange WLDUSD	+0.0824%	1h	0.4583	−0.311%	$328	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.1088%	1h	0.4586	−0.258%	$920K	$2.5M	50x	as long as short
Lighter WLD	+0.1104%	1h	0.4593	−0.096%	$5.1M	$2.0M	10x	as long as short