Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.097%

Price spread now: Binance against Coinbase International−0.126%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

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

costs, in and out, $10k−$570.572% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)−0.143%−$14 · spread now −0.126%, 7d avg −0.066%

Together, before fees−0.290%−$29 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 Binance is 0.059% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.066%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.147% in total (about -7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WLD-PERP-INTX	0.4495	0.0416	pay 0.0052% / 1h	0m 46s	$273K	$982K	50x
Short	Binance WLDUSDT	0.4489	0.0100	get 0.0100% / 8h	6h 00m	$85.3M	$313.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.126%Rate

Funding earned: −$66.36
Price spread: −0.126% → −0.066%: −$5.92
Slippage, 4 orders: −$37.22
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$129.5
Costs to cover: 0.572%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Binance: live order book, 6 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, 1 min ago	5.57 bp	26.5 bp −$27	33.7 bp −$337	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.11 bp	7.3 bp −$7	15.2 bp −$152	47.0 bp −$4,702	176.2 bp −$88.1K

WLD on 38 exchanges

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	−0.0093%	1h	0.4486	−0.211%	$235K	$159K	5x	as long as short
Bybit WLDUSDT	−0.0081%	8h	0.4492	−0.067%	$64.0M	$85.4M	50x	as long as short
Gate WLD_USDT	−0.0079%	8h	0.4488	−0.156%	$7.0M	$32.9M	75x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4491	−0.089%	$53K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4486	−0.200%	$102K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4485	−0.232%	$65K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0033%	1h	0.4477	−0.400%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0048%	1h	0.4487	−0.176%	$321	$55	5x	as long as short
KuCoin WLDUSDTM	+0.0076%	8h	0.4486	−0.200%	$6.6M	$10.4M	50x	as long as short
Polymarket Perps WLD-USD	+0.0086%	1h	0.4480	−0.331%	$49K	$2.6M	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WLD_USDC	+0.0091%	8h	0.4484	−0.245%	$27K	$357K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4495	+0.009%	$4.9M	$3.0M	10x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4495	−0.004%	$49.6M	$30.0M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4492	−0.067%	$211K	$884K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4487	−0.183%	$58K	$526K	5x	as long as short
Binance WLDUSDTshort	+0.0100%	8h	0.4489	−0.126%	$85.3M	$313.6M	75x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4489	−0.133%	$34.2M	$141.9M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4489	−0.133%	$42.8M	$57.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4489	−0.133%	$29.7M	$28.8M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4488	−0.156%	—	$55.7M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4484	−0.249%	$128K	$272K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4502	+0.166%	$2.1M	$1.4M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4508	+0.293%	$27K	$322K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4499	+0.098%	$594K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4511	+0.356%	$60K	$242K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4491	−0.089%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4485	−0.222%	$234	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4492	−0.067%	$824K	$1.2M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4487	−0.178%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4487	−0.189%	$212K	$659K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4483	−0.266%	$30K	$500	3x	as long as short
Phoenix WLD	+0.0123%	1h	0.4487	−0.171%	$4K	$43K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4485	−0.224%	—	—	20x	as long as short
dYdX WLD-USD	+0.0137%	1h	0.4487	−0.189%	$153K	$31K	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0203%	1h	0.4488	−0.165%	$876K	$2.6M	50x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0218% / S −0.0967%	1h	0.4486	−0.202%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4483	−0.267%	$4.7M	$911K	75x	as long as short
Coinbase International WLD-PERP-INTXlong	+0.0416%	1h	0.4495	long leg	$273K	$982K	50x