Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0296%/8h= −32.4% APRpaid last 24h −0.027%

Price spread now: Deribit against BingX+0.201%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.201% dearer against BingX than usual: you sell high and buy low (spread +0.201% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.174% in total) that is about 8.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.174% in total (about -9.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WLD-USDT	0.4478	0.0100	pay 0.0100% / 8h	6h 54m	—	$20.3M	—
Short	Deribit WLD_USDC-PERPETUAL	0.4487	−0.0196	pay 0.0024% / 1h	54m 50s	$126K	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.201%Rate

Funding earned: −$62.06
Price spread: +0.201% → 0.000%: $20.1
Slippage, 4 orders: −$13.24
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.2
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Deribit: live order book, 29 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 BingX live order book, 9 min ago	2.20 bp	7.2 bp −$7	9.4 bp −$94	24.0 bp −$2,400	113.7 bp −$56.8K
Sell Deribit live order book, 29 min ago	4.42 bp	7.9 bp −$8	16.5 bp −$165	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
Deribit WLD_USDC-PERPETUALshort	−0.0196%	1h	0.4487	+0.201%	$126K	$1.0M	25x
ApeX Omni WLDUSDT	−0.0123%	1h	0.4544	+1.474%	$48K	$237K	50x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4501	+0.514%	$64K	$4.6M	1.7x	as long as short
Nado WLD-PERP	+0.0002%	1h	0.4494	+0.368%	$234K	$171K	5x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4556	+1.736%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0033%	1h	0.4508	+0.670%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0072%	1h	0.4502	+0.531%	$322	$55	5x	as long as short
dYdX WLD-USD	+0.0073%	1h	0.4512	+0.748%	$154K	$31K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4474	−0.085%	$4.8M	$3.0M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4489	+0.246%	$27K	$490K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLD	+0.0100%	1h	0.4483	+0.103%	$49.8M	$43.1M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4480	+0.045%	$212K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4513	+0.791%	$56K	$540K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4476	−0.055%	$85.5M	$331.6M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4479	+0.022%	$63.6M	$90.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4475	−0.067%	$34.0M	$147.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4475	−0.067%	$7.0M	$32.2M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4476	−0.045%	$40.0M	$55.9M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4474	−0.089%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4473	−0.112%	$29.6M	$31.1M	75x	as long as short
BingX WLD-USDTlong	+0.0100%	8h	0.4478	long leg	—	$20.3M	—
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4482	+0.083%	$128K	$286K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4532	+1.197%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4541	+1.397%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4550	+1.608%	$602K	$2.2M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4499	+0.469%	$49K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4494	+0.357%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4488	+0.223%	$231	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4492	+0.313%	$823K	$1.3M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4490	+0.268%	$1.7M	$3.5M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4474	−0.097%	$212K	$803K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4495	+0.376%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4495	+0.370%	—	—	20x	as long as short
Phoenix WLD	+0.0194%	1h	0.4545	+1.498%	$4K	$43K	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0203%	1h	0.4490	+0.270%	$888K	$2.7M	50x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4489	+0.248%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4510	+0.715%	$4.4M	$940K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0416%	1h	0.4493	+0.335%	$268K	$1.5M	50x	as long as short