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 +0.005%

Price spread now: Phemex against Bitget−0.176%56s7-day average +0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as 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−$990.989% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.381%+$38 · spread now −0.176%, 7d avg +0.059%

Together, before fees+0.422%+$42 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 0.235% cheaper against Bitget than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.059%. The two prices were read 56 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	Bitget WLDUSDT	0.4535	0.0100	pay 0.0100% / 8h	1h 03m	$30.0M	$30.9M	75x
Short	Phemex WLDUSDT	0.4527	0.0100	get 0.0100% / 8h	1h 03m	$1.8M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → +0.059%: −$23.55
Slippage, 4 orders: −$74.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$122.41
Costs to cover: 0.989%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago	1.10 bp	11.1 bp −$11	19.3 bp −$193	67.7 bp −$6,768	doesn't fit
Sell Phemex live order book, 5 min ago	1.11 bp	37.2 bp −$37	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	−0.0023%	1h	0.4531	−0.088%	$236K	$170K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4532	−0.075%	$155K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4527	−0.176%	$51K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4524	−0.243%	$150K	$954K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	−0.228%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4535	0.000%	$27K	$742K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4529	−0.130%	$226K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4531	−0.092%	$49K	$537K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4528	−0.157%	$86.5M	$334.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4534	−0.022%	$64.6M	$89.4M	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	0.4535	0.000%	$34.3M	$152.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4530	−0.110%	$7.1M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4530	−0.110%	$40.1M	$57.7M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4532	−0.066%	$6.7M	$11.7M	50x	as long as short
Bitget WLDUSDTlong	+0.0100%	8h	0.4535	long leg	$30.0M	$30.9M	75x
BingX WLD-USDC	+0.0100%	8h	0.4529	−0.132%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4528	−0.146%	$134K	$292K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4535	−0.006%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4530	−0.108%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4531	−0.088%	$597K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4531	−0.088%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4534	−0.018%	$46K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4533	−0.044%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4523	−0.265%	$213	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4527	−0.176%	$828K	$1.6M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4527	−0.176%	$1.8M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4530	−0.117%	$208K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4538	+0.056%	$31K	$500	3x	as long as short
Lighter WLD	+0.0128%	1h	0.4536	+0.031%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0132%	1h	0.4581	+1.014%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4528	−0.160%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0136%	1h	0.4539	+0.088%	$325	$55	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4541	+0.143%	$5K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4527	−0.169%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4535	0.000%	$4.8M	$914K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4530	−0.110%	$273K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0489%	1h	0.4537	+0.035%	$50.2M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1046%	1h	0.4526	−0.193%	$875K	$2.8M	50x	as long as short