Funding you earn now, next payment 23:00 UTC+0.0607%/8h= +66.5% APRnext payment +$0.76 per $10,000 · paid last 24h −0.003%
Price spread now: Kraken Futures against Phoenix−0.195%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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. Kraken Futures is 0.195% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.195% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 26 hours of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.117% in total) that is about 12 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.117% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.76 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix WLD | 0.4632 | 0.0104 | pay 0.0013% / 1h | 51m 25s | $5K | $53K | 10x |
| Short | Kraken Futures PF_WLDUSD | 0.4623 | 0.0711 | get 0.0089% / 1h | 51m 25s | $921K | $2.6M | 50x |
Phoenix WLD
Kraken Futures PF_WLDUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $127.51
- Price spread: −0.195% → 0.000%
- −$19.51
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $91
- Costs to cover
- 0.170%
- Break-even
- 2.0 days
Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 2 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 Kraken Futures live order book, 2 min ago | 1.08 bp | 12.3 bp −$12 | 21.3 bp −$213 | 1031.6 bp −$103.2K | 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 | −0.0243% | 8h | 0.4627 | −0.119% | $42K | $3.8M | 1.7x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4625 | −0.154% | $165K | $13K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4619 | −0.291% | $109K | $881K | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4637 | +0.097% | $58K | — | 150x | as long as short |
| Orderly PERP_WLD_USDC | +0.0011% | 8h | 0.4637 | +0.097% | $28K | $909K | 10x | as long as short |
| KuCoin WLDUSDTM | +0.0017% | 8h | 0.4631 | −0.032% | $7.1M | $10.9M | 50x | as long as short |
| Nado WLD-PERP | +0.0074% | 1h | 0.4633 | +0.011% | $279K | $169K | 5x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4632 | −0.021% | $196K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4627 | −0.129% | $53K | $481K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4637 | +0.100% | $87.9M | $298.7M | 75x | as long as short |
Kalshi KXWLDPERP
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
Orderly PERP_WLD_USDC
KuCoin WLDUSDTM
Nado WLD-PERP
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit WLDUSDT | +0.0100% | 8h | 0.4637 | +0.097% | $66.4M | $82.4M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4633 | +0.011% | $34.5M | $143.5M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4636 | +0.076% | $7.5M | $35.2M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4636 | +0.076% | $49.9M | $51.5M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4632 | −0.011% | $30.6M | $25.7M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4636 | +0.076% | — | $67.9M | — | as long as short |
| Backpack WLD_USDC_PERP | +0.0100% | 1h | 0.4620 | −0.276% | $130K | $269K | 10x | as long as short |
| Variational Omni WLD | +0.0100% | 8h | 0.4623 | −0.208% | $2.1M | $1.6M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4624 | −0.181% | $27K | $315K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4635 | +0.053% | $626K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4627 | −0.119% | $56K | $228K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4636 | +0.067% | $43K | $1.6M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4626 | −0.140% | $23K | $1.5M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4619 | −0.291% | $205 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4624 | −0.183% | $873K | $1.8M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4619 | −0.291% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4630 | −0.063% | $237K | $859K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4621 | −0.254% | $31K | $5K | 3x | as long as short |
| Phoenix WLDlong | +0.0104% | 1h | 0.4632 | long leg | $5K | $53K | 10x | |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4632 | −0.002% | — | — | 20x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4625 | −0.162% | $4.9M | $824K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0261% / S −0.2221% | 1h | 0.4636 | +0.084% | $9K | — | 100x | as long as short |
| 01 Exchange WLDUSD | +0.0288% | 1h | 0.4639 | +0.142% | $332 | $77 | 5x | as long as short |
| Injective WLD/USDC PERP | +0.0373% | 1h | 0.4612 | −0.443% | $6K | $185K | 5.5x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0440% | 1h | 0.4638 | +0.119% | $276K | $1.7M | 50x | as long as short |
| Hyperliquid WLD | +0.0646% | 1h | 0.4640 | +0.171% | $50.5M | $42.8M | 10x | as long as short |
| Kraken Futures PF_WLDUSDshort | +0.0711% | 1h | 0.4623 | −0.195% | $921K | $2.6M | 50x | |
| Lighter WLD | +0.1632% | 1h | 0.4639 | +0.134% | $5.3M | $2.0M | 10x | as long as short |
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDT
Backpack WLD_USDC_PERP
Variational Omni WLD
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Reya WLDRUSDPERP
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
01 Exchange WLDUSD
Injective WLD/USDC PERP
Coinbase International WLD-PERP-INTX
Hyperliquid WLD
Lighter WLD