Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.097%

Price spread now: Coinbase International against Binance+0.245%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.245%, 7d avg +0.066%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Coinbase International is 0.179% dearer against Binance than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.066%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.147% in total (about 7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WLDUSDT	0.4475	0.0100	pay 0.0100% / 8h	5h 54m	$85.1M	$311.7M	75x
Short	Coinbase International WLD-PERP-INTX	0.4486	0.0344	get 0.0043% / 1h	54m 28s	$273K	$976K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.245%Rate

Funding earned: $51.24
Price spread: +0.245% → +0.066%: $17.9
Slippage, 4 orders: −$37.22
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $11.92
Costs to cover: 0.572%
Break-even: 5.4 days

Slippage from Binance: live order book, 12 min ago; Coinbase International: live order book, 7 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 Binance live order book, 12 min ago	1.11 bp	6.8 bp −$7	13.4 bp −$134	55.4 bp −$5,543	222.0 bp −$111.0K
Sell Coinbase International live order book, 7 min ago	5.57 bp	16.5 bp −$17	21.3 bp −$213	doesn't fit	doesn't fit

WLD on 38 exchanges

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
Deribit WLD_USDC-PERPETUAL	−0.0196%	1h	0.4478	+0.067%	$102K	$1.1M	25x	as long as short
Kraken Futures PF_WLDUSD	−0.0193%	1h	0.4479	+0.090%	$874K	$2.6M	50x	as long as short
Nado WLD-PERP	−0.0120%	1h	0.4475	−0.012%	$235K	$159K	5x	as long as short
Polymarket Perps WLD-USD	−0.0114%	1h	0.4470	−0.108%	$48K	$2.6M	10x	as long as short
Bybit WLDUSDT	−0.0099%	8h	0.4473	−0.045%	$63.7M	$84.8M	50x	as long as short
01 Exchange WLDUSD	−0.0080%	1h	0.4476	+0.029%	$320	$55	5x	as long as short
Gate WLD_USDT	−0.0072%	8h	0.4475	0.000%	$7.0M	$31.0M	75x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4481	+0.134%	$51K	$4.2M	1.7x	as long as short
dYdX WLD-USD	+0.0002%	1h	0.4477	+0.042%	$153K	$31K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4488	+0.301%	$65K	—	150x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	+0.044%	$6K	$185K	5.5x	as long as short
KuCoin WLDUSDTM	+0.0069%	8h	0.4475	0.000%	$6.6M	$10.4M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0090%	8h	0.4477	+0.044%	$27K	$345K	10x	as long as short
Variational Omni WLD	+0.0094%	8h	0.4473	−0.037%	$2.1M	$1.4M	—	as long as short
Lighter WLD	+0.0096%	1h	0.4481	+0.131%	$4.8M	$3.0M	10x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4479	+0.098%	$49.4M	$28.7M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4477	+0.044%	$210K	$884K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4478	+0.067%	$58K	$498K	5x	as long as short
Binance WLDUSDTlong	+0.0100%	8h	0.4475	long leg	$85.1M	$311.7M	75x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4472	−0.068%	$34.1M	$140.5M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4477	+0.044%	$42.5M	$54.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4476	+0.022%	$29.6M	$28.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4474	−0.023%	—	$55.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4478	+0.064%	$126K	$273K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4484	+0.195%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4488	+0.290%	$593K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4488	+0.290%	$59K	$242K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4482	+0.156%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4476	+0.022%	$234	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4487	+0.268%	$823K	$1.2M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4480	+0.111%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4473	−0.045%	$211K	$659K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4479	+0.078%	$30K	$500	3x	as long as short
Phoenix WLD	+0.0123%	1h	0.4492	+0.373%	$4K	$40K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4473	−0.047%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0218% / S −0.0967%	1h	0.4478	+0.069%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4482	+0.156%	$4.8M	$908K	75x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0344%	1h	0.4486	+0.245%	$273K	$976K	50x