Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.017%

Price spread now: Deribit against Binance−0.045%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.904%+$90 · spread now −0.045%, 7d avg +0.038%

Together, before fees+0.805%+$81 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 Deribit is 0.083% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WLDUSDT	0.4489	0.0100	pay 0.0100% / 8h	7h 33m	$85.9M	$333.1M	75x
Short	Deribit WLD_USDC-PERPETUAL	0.4487	0	get 0.0000% / 1h	33m 03s	$116K	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$21
Price spread: −0.045% → +0.038%: −$8.26
Slippage, 4 orders: −$19.15
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$65.41
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Deribit: live order book, 1 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, 11 min ago	1.11 bp	6.3 bp −$6	11.9 bp −$119	56.1 bp −$5,608	243.2 bp −$121.6K
Sell Deribit live order book, 1 min ago	5.57 bp	9.1 bp −$9	15.1 bp −$151	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	−0.0007%	1h	0.4487	−0.045%	$233K	$175K	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4485	−0.089%	$42K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUALshort	0.0000%	1h	0.4487	−0.045%	$116K	$1.0M	25x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4489	−0.003%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4486	−0.067%	$27K	$589K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4493	+0.096%	$226K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4489	0.000%	$54K	$542K	5x	as long as short
Binance WLDUSDTlong	+0.0100%	8h	0.4489	long leg	$85.9M	$333.1M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4486	−0.067%	$63.4M	$89.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4488	−0.022%	$34.0M	$148.5M	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	0.4487	−0.045%	$7.1M	$34.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4490	+0.022%	$41.5M	$56.2M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4485	−0.089%	$6.6M	$11.7M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4487	−0.045%	$29.6M	$30.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4487	−0.045%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4489	−0.011%	$129K	$297K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4503	+0.306%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4504	+0.329%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4504	+0.334%	$600K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4512	+0.512%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4489	−0.011%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4493	+0.089%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4488	−0.022%	$215	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4485	−0.089%	$822K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4490	+0.022%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4482	−0.148%	$207K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4509	+0.443%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	+0.423%	$6K	$185K	5.5x	as long as short
Hyperliquid WLD	+0.0131%	1h	0.4493	+0.096%	$49.8M	$43.1M	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4497	+0.174%	—	—	20x	as long as short
dYdX WLD-USD	+0.0165%	1h	0.4489	−0.006%	$153K	$31K	10x	as long as short
01 Exchange WLDUSD	+0.0176%	1h	0.4487	−0.038%	$321	$55	5x	as long as short
Lighter WLD	+0.0184%	1h	0.4494	+0.118%	$4.9M	$2.9M	10x	as long as short
Phoenix WLD	+0.0194%	1h	0.4514	+0.548%	$4K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4485	−0.099%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4488	−0.022%	$4.3M	$903K	75x	as long as short
Kraken Futures PF_WLDUSD	+0.0305%	1h	0.4490	+0.021%	$862K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4492	+0.067%	$266K	$1.6M	50x	as long as short