Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: SunX against Backpack+0.219%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1021.025% of the position

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now +0.219%, 7d avg +0.123%

Together, before fees+0.127%+$13 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: SunX is 0.096% dearer against Backpack than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4523	0.0100	pay 0.0013% / 1h	34m 27s	$134K	$307K	10x
Short	SunX WLD-USDT	0.4533	0.0100	get 0.0100% / 8h	2h 34m	$23K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.219%Rate

Funding earned: $0
Price spread: +0.219% → +0.123%: $9.56
Slippage, 4 orders: −$84.47
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$92.92
Costs to cover: 1.025%
Break-even: never at this rate

Slippage from Backpack: live order book, 14 min ago; SunX: live order book, 11 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, 14 min ago	0.11 bp	5.5 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	29.94 bp	46.6 bp −$47	doesn't fit	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	−0.0055%	1h	0.4499	−0.538%	$242K	$208K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4504	−0.427%	$154K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4521	−0.046%	$68K	$4.8M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4490	−0.732%	$143K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4496	−0.600%	$65K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0044%	8h	0.4499	−0.533%	$6.7M	$11.9M	50x	as long as short
Polymarket Perps WLD-USD	+0.0047%	1h	0.4497	−0.573%	$38K	$2.4M	10x	as long as short
01 Exchange WLDUSD	+0.0064%	1h	0.4501	−0.482%	$322	$55	5x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4490	−0.732%	$28K	$826K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4502	−0.477%	$225K	$1.1M	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	0.4504	−0.422%	$50K	$541K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4497	−0.582%	$85.6M	$339.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4493	−0.665%	$64.0M	$92.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4488	−0.776%	$33.8M	$153.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4498	−0.555%	$7.3M	$37.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4498	−0.555%	$38.4M	$55.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4490	−0.732%	$29.6M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4496	−0.599%	—	$68.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4523	long leg	$134K	$307K	10x
Variational Omni WLD	+0.0100%	8h	0.4509	−0.316%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4505	−0.392%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4512	−0.244%	$599K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4512	−0.245%	$48K	$240K	50x	as long as short
SunX WLD-USDTshort	+0.0100%	8h	0.4533	+0.219%	$23K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4526	+0.064%	$208	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	−0.069%	$828K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4525	+0.042%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4499	−0.526%	$221K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4492	−0.677%	$30K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4495	−0.625%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4516	−0.157%	$5K	$52K	10x	as long as short
Lighter WLD	+0.0152%	1h	0.4508	−0.343%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	−0.223%	$6K	$185K	5.5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4495	−0.614%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4523	−0.002%	$4.8M	$930K	75x	as long as short
Hyperliquid WLD	+0.0293%	1h	0.4504	−0.429%	$48.7M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0500%	1h	0.4530	+0.152%	$864K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4530	+0.153%	$276K	$1.7M	50x	as long as short