Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: Phemex against Binance−0.211%52s7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1191.186% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.445%+$45 · spread now −0.211%, 7d avg +0.016%

Together, before fees+0.554%+$55 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: Phemex is 0.226% cheaper against Binance than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.016%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WLDUSDT	0.4550	0.0100	pay 0.0100% / 8h	3h 20m	$86.7M	$330.9M	75x
Short	Phemex WLDUSDT	0.4540	0.0100	get 0.0100% / 8h	3h 20m	$1.8M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.211%Rate

Funding earned: $0
Price spread: −0.211% → +0.016%: −$22.64
Slippage, 4 orders: −$96.63
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$141.26
Costs to cover: 1.186%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Phemex: live order book, 3 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, 8 min ago	1.10 bp	6.3 bp −$6	15.5 bp −$155	61.3 bp −$6,131	235.1 bp −$117.6K
Sell Phemex live order book, 3 min ago	14.32 bp	50.8 bp −$51	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	−0.0028%	1h	0.4549	−0.013%	$241K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4550	+0.002%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4541	−0.189%	$81K	$4.7M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4552	+0.049%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0031%	8h	0.4550	+0.009%	$6.9M	$11.7M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4542	−0.167%	$28K	$868K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4548	−0.037%	$209K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4549	−0.007%	$49K	$524K	5x	as long as short
Binance WLDUSDTlong	+0.0100%	8h	0.4550	long leg	$86.7M	$330.9M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4550	+0.009%	$64.7M	$90.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4548	−0.035%	$34.3M	$151.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4552	+0.053%	$7.3M	$36.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4550	+0.009%	$40.3M	$55.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4550	+0.009%	$30.0M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4550	+0.009%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4541	−0.193%	$134K	$304K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4540	−0.217%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4532	−0.389%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4542	−0.160%	$601K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4533	−0.365%	$43K	$238K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4548	−0.024%	$39K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4547	−0.057%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4541	−0.189%	$207	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4539	−0.233%	$830K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4540	−0.211%	$1.8M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4551	+0.026%	$216K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4542	−0.167%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4549	−0.018%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.581%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4526	−0.518%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0190%	1h	0.4543	−0.145%	$122K	$981K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4537	−0.277%	$4.9M	$881K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4551	+0.035%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0288%	1h	0.4556	+0.141%	$326	$55	5x	as long as short
Hyperliquid WLD	+0.0366%	1h	0.4556	+0.137%	$50.0M	$43.4M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0522%	1h	0.4546	−0.087%	$882K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4546	−0.079%	$267K	$1.6M	50x	as long as short
Lighter WLD	+0.0824%	1h	0.4555	+0.121%	$5.2M	$2.6M	10x	as long as short