Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: dYdX against SunX−0.189%7-day average −0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$277as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2572.572% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 3 days (all we have)−0.191%−$19 · spread now −0.189%, 7d avg −0.123%

Together, before fees−0.392%−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.066% cheaper against SunX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.123%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WLD-USDT	0.4611	0.0100	pay 0.0100% / 8h	1h 38m	$23K	$1.5M	50x
Short	dYdX WLD-USD	0.4602	0	get 0.0000% / 1h	38m 09s	$164K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now −0.189%Rate

Funding earned: −$21
Price spread: −0.189% → −0.123%: −$6.64
Slippage, 4 orders: −$239.15
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$284.8
Costs to cover: 2.572%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; dYdX: live order book, 46 min ago.

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 SunX live order book, 7 min ago	29.34 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 46 min ago	79.53 bp	84.5 bp −$85	214.1 bp −$2,141	246.2 bp −$24.6K	290.3 bp −$145.2K

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	−0.0384%	8h	0.4600	−0.239%	$34K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−1.930%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0005%	8h	0.4604	−0.152%	$28K	$914K	10x	as long as short
dYdX WLD-USDshort	0.0000%	1h	0.4602	−0.189%	$164K	$13K	10x
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4604	−0.152%	$108K	$890K	25x	as long as short
KuCoin WLDUSDTM	+0.0001%	8h	0.4599	−0.260%	$7.0M	$10.7M	50x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4605	−0.126%	$57K	—	150x	as long as short
Variational Omni WLD	+0.0046%	8h	0.4597	−0.304%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0064%	1h	0.4599	−0.249%	$277K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4608	−0.066%	$217K	$988K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4603	−0.173%	$52K	$480K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4597	−0.304%	$87.2M	$295.6M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4596	−0.325%	$66.1M	$81.3M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4593	−0.390%	$34.4M	$141.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4606	−0.108%	$7.5M	$35.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4597	−0.304%	$49.5M	$51.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4594	−0.369%	$30.3M	$25.4M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4598	−0.282%	—	$67.9M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4597	−0.293%	$128K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4598	−0.279%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4598	−0.282%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4597	−0.304%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4601	−0.217%	$47K	$1.7M	10x	as long as short
SunX WLD-USDTlong	+0.0100%	8h	0.4611	long leg	$23K	$1.5M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4598	−0.282%	$205	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4596	−0.325%	$867K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4597	−0.304%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4603	−0.181%	$242K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4597	−0.304%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4595	−0.345%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4599	−0.250%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0185%	1h	0.4601	−0.211%	$923K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4616	+0.108%	$4.9M	$821K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4604	−0.160%	$329	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4606	−0.114%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4604	−0.152%	$274K	$1.6M	50x	as long as short
Lighter WLD	+0.0904%	1h	0.4608	−0.056%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLD	+0.1104%	1h	0.4606	−0.113%	$50.3M	$43.0M	10x	as long as short