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 +0.024%

Price spread now: Phemex against Phoenix−0.274%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 Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$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. Phemex is 0.274% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.274% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$27 on $10k: about 29 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	0.4715	0.0068	pay 0.0009% / 1h	50m 29s	$5K	$54K	10x
Short	Phemex WLDUSDT	0.4702	0.0100	get 0.0100% / 8h	6h 50m	$1.9M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.274%Rate

Funding earned: $6.7
Price spread: −0.274% → 0.000%: −$27.36
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$39.66
Costs to cover: 0.190%
Break-even: 48.4 days

Slippage unknown: Phoenix: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	11.71 bp	55.1 bp −$55	doesn't fit	doesn't fit	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
ApeX Omni WLDUSDT	−0.0349%	1h	0.4701	−0.295%	$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	−0.0156%	8h	0.4697	−0.380%	$29K	$4.2M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0025%	8h	0.4715	+0.002%	$7.0M	$11.4M	50x	as long as short
Nado WLD-PERP	−0.0007%	1h	0.4724	+0.204%	$274K	$178K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4719	+0.093%	$161K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4700	−0.316%	$132K	$909K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4700	−0.317%	$67K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0053%	8h	0.4700	−0.316%	$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	0.4719	+0.090%	$182K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4719	+0.094%	$55K	$487K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4726	+0.230%	$90.4M	$318.6M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4727	+0.257%	$68.0M	$85.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4727	+0.257%	$35.7M	$153.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4724	+0.193%	$7.5M	$36.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4722	+0.151%	$48.2M	$54.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4726	+0.235%	$31.6M	$28.4M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4723	+0.172%	—	$67.5M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4703	−0.255%	$140K	$285K	10x	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	0.4730	+0.316%	$69K	$1.9M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4714	−0.019%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4703	−0.252%	$226	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4702	−0.274%	$890K	$1.9M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4702	−0.274%	$1.9M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4723	+0.171%	$218K	$879K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4702	−0.284%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4724	+0.188%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4696	−0.401%	$5.0M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0239% / S −0.1538%	1h	0.4702	−0.283%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0328%	1h	0.4732	+0.363%	$339	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4706	−0.189%	$277K	$1.7M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0636%	1h	0.4706	−0.181%	$934K	$2.8M	50x	as long as short
Hyperliquid WLD	+0.0742%	1h	0.4734	+0.403%	$53.0M	$44.5M	10x	as long as short
Lighter WLD	+0.0800%	1h	0.4732	+0.354%	$5.4M	$2.1M	10x	as long as short