WLD

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0300%/8h= −32.8% APRnext payment −$0.37 per $10,000 · paid last 24h −0.039%

Price spread now: Backpack against Coinbase International−0.084%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$580.576% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 3 days (all we have)−0.154%−$15 · spread now −0.084%, 7d avg −0.034%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Backpack is 0.050% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 per $10,000. 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	Coinbase International WLD-PERP-INTX	0.4549	0.0400	pay 0.0050% / 1h	20m 39s	$279K	$1.6M	50x
Short	Backpack WLD_USDC_PERP	0.4545	0.0100	get 0.0013% / 1h	20m 39s	$129K	$272K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$63
Price spread: −0.084% → −0.034%: −$4.99
Slippage, 4 orders: −$37.61
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$125.6
Costs to cover: 0.576%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Backpack: 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 Coinbase International live order book, 3 min ago	7.68 bp	18.6 bp −$19	28.8 bp −$288	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.44 bp	13.6 bp −$14	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
Kalshi KXWLDPERP	−0.0444%	8h	0.4548	−0.022%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDC	−0.0022%	8h	0.4542	−0.154%	$28K	$917K	10x	as long as short
Variational Omni WLD	−0.0017%	8h	0.4577	+0.623%	$2.1M	$1.6M	—	as long as short
dYdX WLD-USD	0.0000%	1h	0.4546	−0.061%	$155K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4546	−0.066%	$127K	$904K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4545	−0.099%	$56K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0007%	8h	0.4540	−0.198%	$7.0M	$10.7M	50x	as long as short
Nado WLD-PERP	+0.0034%	1h	0.4545	−0.093%	$271K	$168K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4553	+0.079%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0072%	8h	0.4543	−0.132%	$33.9M	$138.2M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0096%	8h	0.4542	−0.154%	$53.7M	$47.5M	300x	as long as short
Binance WLDUSDT	+0.0096%	8h	0.4545	−0.088%	$85.5M	$292.8M	75x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4546	−0.062%	$46.6M	$41.2M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4545	−0.087%	$215K	$982K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4544	−0.110%	$51K	$483K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4541	−0.176%	$64.9M	$80.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4542	−0.154%	$7.4M	$34.7M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4542	−0.154%	$30.1M	$25.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4542	−0.154%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4545	−0.084%	$129K	$272K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4557	+0.171%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4550	+0.022%	$610K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4556	+0.154%	$55K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4543	−0.138%	$52K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4551	+0.044%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4543	−0.132%	$198	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4545	−0.088%	$857K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4544	−0.110%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4541	−0.166%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4546	−0.077%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4541	−0.181%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0216%	8h	0.4538	−0.242%	$4.9M	$807K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0217% / S −0.0307%	1h	0.4543	−0.122%	$12K	—	100x	as long as short
01 Exchange WLDUSD	+0.0360%	1h	0.4543	−0.128%	$325	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4622	+1.605%	$6K	$139K	5.5x	as long as short
Coinbase International WLD-PERP-INTXlong	+0.0400%	1h	0.4549	long leg	$279K	$1.6M	50x
Lighter WLD	+0.0992%	1h	0.4552	+0.066%	$5.1M	$2.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1097%	1h	0.4549	−0.011%	$920K	$2.6M	50x	as long as short