Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: MEXC against Phoenix−0.083%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 MEXC

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. MEXC is 0.083% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.083% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 8.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.016% in total) that is about 36 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix WLD	0.4715	0.0068	pay 0.0009% / 1h	48m 50s	$5K	$54K	10x
Short	MEXC WLD_USDT	0.4711	0.0100	get 0.0100% / 8h	6h 48m	$48.2M	$54.6M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.083%Rate

Funding earned: $6.7
Price spread: −0.083% → 0.000%: −$8.27
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$8.57
Costs to cover: 0.070%
Break-even: 15.9 days

Slippage unknown: Phoenix: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	2.14 bp	6.4 bp −$6	10.9 bp −$109	38.5 bp −$3,853	81.2 bp −$40.6K

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
ApeX Omni WLDUSDT	−0.0236%	1h	0.4707	−0.168%	$51K	$243K	50x	as long as short
Injective WLD/USDC PERP	−0.0235%	1h	0.4675	−0.846%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0154%	8h	0.4717	+0.045%	$30K	$4.2M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0035%	8h	0.4709	−0.125%	$7.1M	$11.4M	50x	as long as short
Nado WLD-PERP	−0.0012%	1h	0.4720	+0.119%	$274K	$178K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4718	+0.060%	$161K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4718	+0.066%	$133K	$909K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0002%	1h	0.4718	+0.065%	$69K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0053%	8h	0.4718	+0.066%	$29K	$899K	10x	as long as short
Phoenix WLDlong	+0.0068%	1h	0.4715	long leg	$5K	$54K	10x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4726	+0.235%	$183K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4720	+0.108%	$56K	$493K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4712	−0.064%	$90.1M	$319.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4711	−0.083%	$67.8M	$85.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4710	−0.104%	$35.7M	$152.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4714	−0.019%	$7.5M	$36.7M	75x	as long as short
MEXC WLD_USDTshort	+0.0100%	8h	0.4711	−0.083%	$48.2M	$54.6M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4706	−0.189%	$31.5M	$28.4M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4712	−0.062%	—	$67.5M	—	as long as short
Variational Omni WLD	+0.0100%	8h	0.4706	−0.194%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4688	−0.561%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4708	−0.154%	$623K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4718	+0.066%	$67K	$1.9M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4724	+0.193%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4719	+0.087%	$227	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4721	+0.129%	$894K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4720	+0.108%	$1.9M	$3.7M	50x	as long as short
Backpack WLD_USDC_PERP	+0.0102%	1h	0.4720	+0.117%	$140K	$285K	10x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4716	+0.020%	$218K	$879K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4718	+0.073%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4716	+0.013%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4719	+0.087%	$5.0M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0240% / S −0.1538%	1h	0.4716	+0.023%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0336%	1h	0.4722	+0.151%	$338	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4727	+0.257%	$277K	$1.8M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0634%	1h	0.4719	+0.093%	$937K	$2.8M	50x	as long as short
Hyperliquid WLD	+0.0724%	1h	0.4726	+0.233%	$52.9M	$44.5M	10x	as long as short
Lighter WLD	+0.0832%	1h	0.4730	+0.325%	$5.4M	$2.1M	10x	as long as short