Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.026%

Price spread now: Backpack against BloFin+0.002%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 4 days (all we have)−0.171%−$17 · spread now +0.002%, 7d avg +0.008%

Together, before fees−0.333%−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WLD-USDT	0.4523	0.0220	pay 0.0220% / 8h	2h 34m	$4.8M	$930K	75x
Short	Backpack WLD_USDC_PERP	0.4523	0.0100	get 0.0013% / 1h	34m 35s	$134K	$307K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$25.2
Price spread: +0.002% → +0.008%: −$0.63
Slippage, 4 orders: −$17
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$64.83
Costs to cover: 0.390%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Backpack: live order book, 14 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 BloFin live order book, 4 min ago	3.34 bp	11.4 bp −$11	14.9 bp −$149	34.4 bp −$3,444	121.6 bp −$60.8K
Sell Backpack live order book, 14 min ago	0.11 bp	11.6 bp −$12	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	−0.0055%	1h	0.4499	−0.536%	$242K	$208K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4504	−0.425%	$154K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4521	−0.044%	$68K	$4.8M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	+0.043%	$65K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0044%	8h	0.4500	−0.509%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0064%	1h	0.4501	−0.480%	$322	$55	5x	as long as short
Polymarket Perps WLD-USD	+0.0068%	1h	0.4524	+0.022%	$41K	$2.4M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4527	+0.088%	$28K	$826K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4505	−0.394%	$225K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4504	−0.420%	$50K	$541K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4503	−0.452%	$85.7M	$338.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4500	−0.509%	$64.1M	$92.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4498	−0.553%	$34.0M	$153.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4504	−0.420%	$7.3M	$37.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4502	−0.464%	$38.3M	$55.6M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4500	−0.509%	$29.6M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4504	−0.420%	—	$68.3M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4523	+0.002%	$134K	$307K	10x
Variational Omni WLD	+0.0100%	8h	0.4509	−0.314%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4505	−0.389%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4512	−0.242%	$599K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4512	−0.243%	$48K	$240K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4533	+0.221%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4526	+0.066%	$208	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	−0.066%	$828K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4525	+0.044%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4499	−0.524%	$221K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4528	+0.122%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4526	+0.062%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4516	−0.155%	$5K	$52K	10x	as long as short
Lighter WLD	+0.0152%	1h	0.4508	−0.340%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	−0.221%	$6K	$185K	5.5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4525	+0.038%	$4K	—	100x	as long as short
BloFin WLD-USDTlong	+0.0220%	8h	0.4523	long leg	$4.8M	$930K	75x
Hyperliquid WLD	+0.0298%	1h	0.4509	−0.316%	$48.7M	$44.2M	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0413%	1h	0.4530	+0.155%	$145K	$1.0M	25x	as long as short
Kraken Futures PF_WLDUSD	+0.0500%	1h	0.4530	+0.155%	$864K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4530	+0.155%	$276K	$1.7M	50x	as long as short