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 +0.004%

Price spread now: Gate against Phoenix−0.152%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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 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. Gate is 0.152% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.152% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 10 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	0.4542	0.0052	pay 0.0006% / 1h	15m 02s	$5K	$52K	10x
Short	Gate WLD_USDT	0.4535	0.0100	get 0.0100% / 8h	2h 15m	$7.4M	$34.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.152%Rate

Funding earned: $10.14
Price spread: −0.152% → 0.000%: −$15.19
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.05
Costs to cover: 0.220%
Break-even: 25.7 days

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 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 Phoenix no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	1.10 bp	15.2 bp −$15	33.5 bp −$335	51.8 bp −$5,177	doesn't fit

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	−0.0470%	8h	0.4539	−0.064%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDC	−0.0019%	8h	0.4536	−0.130%	$28K	$917K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4535	−0.158%	$155K	$6K	10x	as long as short
KuCoin WLDUSDTM	0.0000%	8h	0.4533	−0.196%	$7.0M	$10.7M	50x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4540	−0.042%	$123K	$911K	25x	as long as short
Variational Omni WLD	+0.0001%	8h	0.4531	−0.233%	$2.1M	$1.6M	—	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4536	−0.120%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0035%	1h	0.4531	−0.251%	$270K	$168K	5x	as long as short
Phoenix WLDlong	+0.0052%	1h	0.4542	long leg	$5K	$52K	10x
OKX WLD-USDT-SWAP	+0.0078%	8h	0.4534	−0.174%	$33.8M	$137.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0087%	8h	0.4535	−0.142%	$85.2M	$292.9M	75x	as long as short
MEXC WLD_USDT	+0.0090%	8h	0.4538	−0.086%	$53.3M	$47.8M	300x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4540	−0.040%	$46.5M	$41.2M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4538	−0.095%	$215K	$982K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4532	−0.218%	$51K	$482K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4536	−0.130%	$64.7M	$80.3M	50x	as long as short
Gate WLD_USDTshort	+0.0100%	8h	0.4535	−0.152%	$7.4M	$34.8M	75x
Bitget WLDUSDT	+0.0100%	8h	0.4536	−0.130%	$30.1M	$25.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4536	−0.130%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4539	−0.068%	$129K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4539	−0.062%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4539	−0.064%	$609K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4540	−0.042%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4530	−0.266%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4536	−0.130%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4536	−0.130%	$198	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4535	−0.152%	$855K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4538	−0.086%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4535	−0.154%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4539	−0.066%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4529	−0.278%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0207%	8h	0.4535	−0.152%	$4.9M	$806K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0216% / S −0.1712%	1h	0.4537	−0.114%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0328%	1h	0.4534	−0.181%	$324	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4542	+0.002%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4540	−0.042%	$279K	$1.6M	50x	as long as short
Lighter WLD	+0.0968%	1h	0.4548	+0.128%	$5.1M	$2.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1099%	1h	0.4540	−0.036%	$923K	$2.6M	50x	as long as short