Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: ApeX Omni against Backpack−0.207%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.322%+$32 · spread now −0.207%, 7d avg +0.035%

Together, before fees+0.338%+$34 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.242% cheaper against Backpack than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4538	0.0100	pay 0.0013% / 1h	5m 23s	$135K	$292K	10x
Short	ApeX Omni WLDUSDT	0.4529	0.0100	get 0.0013% / 1h	5m 23s	$48K	$238K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now −0.207%Rate

Funding earned: $0
Price spread: −0.207% → +0.035%: −$24.19
Slippage, 4 orders: −$31.61
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$75.8
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from Backpack: live order book, 38 min ago; ApeX Omni: live order book, 36 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 Backpack live order book, 38 min ago	1.32 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	8.82 bp	18.0 bp −$18	105.3 bp −$1,053	doesn't fit	doesn't fit

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
Nado WLD-PERP	−0.0022%	1h	0.4531	−0.152%	$239K	$169K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4533	−0.116%	$155K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4537	−0.031%	$51K	$4.7M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4531	−0.169%	$66K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4530	−0.185%	$27K	$750K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4533	−0.129%	$227K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4532	−0.131%	$49K	$537K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4530	−0.193%	$86.3M	$334.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4529	−0.207%	$64.6M	$89.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4527	−0.251%	$34.2M	$152.0M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDT	+0.0100%	8h	0.4531	−0.163%	$7.1M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4530	−0.185%	$40.1M	$57.7M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4528	−0.229%	$6.6M	$11.7M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4532	−0.141%	$30.0M	$30.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4531	−0.163%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4538	long leg	$135K	$292K	10x
Variational Omni WLD	+0.0100%	8h	0.4535	−0.081%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4525	−0.285%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4530	−0.184%	$597K	$2.1M	10x	as long as short
ApeX Omni WLDUSDTshort	+0.0100%	1h	0.4529	−0.207%	$48K	$238K	50x
Polymarket Perps WLD-USD	+0.0100%	1h	0.4529	−0.212%	$47K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4542	+0.079%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4535	−0.075%	$215	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4526	−0.273%	$828K	$1.6M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4537	−0.031%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4528	−0.225%	$208K	$1.0M	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4529	−0.202%	$31K	$500	3x	as long as short
Lighter WLD	+0.0128%	1h	0.4537	−0.024%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0132%	1h	0.4581	+0.939%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4528	−0.223%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0136%	1h	0.4531	−0.161%	$324	$55	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4541	+0.068%	$5K	$44K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0191%	1h	0.4539	+0.013%	$151K	$954K	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4529	−0.197%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4541	+0.057%	$4.8M	$916K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4539	+0.013%	$274K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0497%	1h	0.4535	−0.066%	$49.8M	$43.7M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1044%	1h	0.4536	−0.057%	$876K	$2.8M	50x	as long as short