Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h —

Price spread now: Reya against Phoenix−0.463%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 Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.463% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.463% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$46 on $10k: about 23 days of funding at the current rate (+$2 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	25m 16s	$5K	$54K	10x
Short	Reya WLDRUSDPERP	0.4693	0.0134	get 0.0017% / 1h	25m 16s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.463%Rate

Funding earned: $13.81
Price spread: −0.463% → 0.000%: −$46.32
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$45.51
Costs to cover: 0.130%
Break-even: 30.1 days

Slippage unknown: Phoenix: no order-book sample; Reya: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—

Phoenix and Reya: 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 37 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
Injective WLD/USDC PERP	−0.0235%	1h	0.4615	−2.113%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0151%	8h	0.4699	−0.331%	$44K	$4.4M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0047%	8h	0.4691	−0.501%	$7.1M	$11.5M	50x	as long as short
Nado WLD-PERP	−0.0008%	1h	0.4694	−0.437%	$273K	$189K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4690	−0.517%	$167K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4695	−0.416%	$130K	$895K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4695	−0.420%	$57K	—	150x	as long as short
Gate WLD_USDT	+0.0042%	8h	0.4694	−0.437%	$7.4M	$37.6M	75x	as long as short
ApeX Omni WLDUSDT	+0.0057%	1h	0.4659	−1.179%	$51K	$237K	50x	as long as short
Orderly PERP_WLD_USDC	+0.0058%	8h	0.4694	−0.437%	$29K	$897K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix WLDlong	+0.0068%	1h	0.4715	long leg	$5K	$54K	10x
Aster WLDUSDT	+0.0100%	8h	0.4702	−0.270%	$181K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4697	−0.376%	$56K	$506K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4695	−0.416%	$89.2M	$324.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4694	−0.437%	$67.5M	$87.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4693	−0.458%	$35.3M	$153.4M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4694	−0.437%	$46.6M	$55.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4694	−0.437%	$31.2M	$29.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4694	−0.437%	—	$67.7M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4711	−0.085%	$139K	$292K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4705	−0.209%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4708	−0.150%	$28K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4709	−0.119%	$625K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4696	−0.395%	$56K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4699	−0.331%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4692	−0.479%	$224	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4692	−0.479%	$888K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4691	−0.501%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4692	−0.485%	$216K	$886K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4696	−0.395%	$32K	$600	3x	as long as short
Reya WLDRUSDPERPshort	+0.0134%	1h	0.4693	−0.463%	—	—	20x
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4694	−0.444%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0264%	1h	0.4695	−0.420%	$336	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4716	+0.030%	$282K	$1.8M	50x	as long as short
Hyperliquid WLD	+0.0578%	1h	0.4700	−0.303%	$52.3M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0637%	1h	0.4695	−0.412%	$917K	$2.9M	50x	as long as short
Lighter WLD	+0.0848%	1h	0.4701	−0.280%	$5.3M	$2.1M	10x	as long as short