Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0034%/8h= −3.7% APRnext payment −$0.04 per $10,000 · paid last 24h —

Price spread now: Backpack against Reya−0.031%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Backpack

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Backpack is 0.031% cheaper against Reya than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLDRUSDPERP	0.4619	0.0134	pay 0.0017% / 1h	29m 13s	—	—	20x
Short	Backpack WLD_USDC_PERP	0.4617	0.0100	get 0.0013% / 1h	29m 13s	$137K	$297K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$7.11
Price spread: −0.031% → 0.000%: −$3.14
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$26.24
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 29 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 29 min ago	1.21 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit

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 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	−0.0103%	8h	0.4613	−0.124%	$39K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0047%	1h	0.4616	−0.049%	$245K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0017%	8h	0.4618	−0.016%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4617	−0.046%	$157K	$33K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4616	−0.063%	$67K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−1.618%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0091%	8h	0.4616	−0.060%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4616	−0.055%	$5.0M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4608	−0.235%	$211K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4618	−0.023%	$49K	$527K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4610	−0.189%	$87.5M	$328.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4610	−0.189%	$65.6M	$89.1M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4606	−0.276%	$34.6M	$150.8M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4618	−0.016%	$7.2M	$36.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4618	−0.016%	$44.1M	$54.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4617	−0.038%	$30.5M	$30.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4615	−0.081%	—	$67.5M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4617	−0.031%	$137K	$297K	10x
Variational Omni WLD	+0.0100%	8h	0.4589	−0.651%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4588	−0.668%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4600	−0.417%	$606K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4566	−1.142%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4617	−0.042%	$46K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4621	+0.049%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4616	−0.060%	$174	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4612	−0.146%	$843K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4613	−0.124%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4614	−0.097%	$222K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4617	−0.049%	$31K	$600	3x	as long as short
01 Exchange WLDUSD	+0.0120%	1h	0.4618	−0.014%	$330	$80	5x	as long as short
Reya WLDRUSDPERPlong	+0.0134%	1h	0.4619	long leg	—	—	20x
Phoenix WLD	+0.0158%	1h	0.4605	−0.304%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0183%	1h	0.4617	−0.038%	$119K	$927K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4613	−0.124%	$4.9M	$838K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4615	−0.081%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0305%	1h	0.4624	+0.116%	$50.8M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0475%	1h	0.4617	−0.034%	$893K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4613	−0.124%	$270K	$1.7M	50x	as long as short