Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.040%

Price spread now: Phemex against Deribit−0.022%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$950.952% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now −0.022%, 7d avg −0.026%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WLD_USDC-PERPETUAL	0.4569	0	get 0.0000% / 1h	48m 51s	$121K	$894K	25x
Short	Phemex WLDUSDT	0.4568	0.0100	get 0.0100% / 8h	1h 48m	$1.8M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now −0.022%Rate

Funding earned: $21
Price spread: −0.022% → −0.026%: $0.39
Slippage, 4 orders: −$76.17
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$73.79
Costs to cover: 0.952%
Break-even: 31.6 days

Slippage from Deribit: live order book, 35 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 Deribit live order book, 35 min ago	2.19 bp	5.7 bp −$6	13.9 bp −$139	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	8.80 bp	39.1 bp −$39	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	−0.0442%	8h	0.4562	−0.153%	$44K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−1.029%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0010%	8h	0.4568	−0.022%	$28K	$915K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4566	−0.076%	$156K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUALlong	0.0000%	1h	0.4569	long leg	$121K	$894K	25x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4566	−0.056%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0008%	8h	0.4569	0.000%	$7.0M	$10.7M	50x	as long as short
Variational Omni WLD	+0.0045%	8h	0.4543	−0.567%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0081%	1h	0.4564	−0.109%	$275K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4567	−0.042%	$214K	$973K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4563	−0.128%	$51K	$480K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4573	+0.088%	$86.2M	$293.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4573	+0.088%	$65.2M	$80.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4572	+0.066%	$34.2M	$139.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4571	+0.044%	$7.5M	$34.8M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4572	+0.066%	$56.6M	$49.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4571	+0.044%	$30.3M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4574	+0.109%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4572	+0.063%	$130K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4547	−0.488%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4551	−0.391%	$621K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4549	−0.438%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4566	−0.066%	$47K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4570	+0.022%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4568	−0.022%	$202	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4558	−0.241%	$860K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4568	−0.022%	$1.8M	$3.8M	50x
Extended WLD-USD	+0.0104%	1h	0.4569	−0.004%	$133K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4569	0.000%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4558	−0.234%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4564	−0.105%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0186%	1h	0.4572	+0.076%	$919K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4568	−0.022%	$4.8M	$814K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4569	−0.009%	$327	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0258% / S −0.2198%	1h	0.4566	−0.065%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4564	−0.109%	$279K	$1.6M	50x	as long as short
Lighter WLD	+0.0920%	1h	0.4578	+0.199%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLD	+0.1189%	1h	0.4578	+0.206%	$49.3M	$42.5M	10x	as long as short