Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0194%/8h= +21.2% APRpaid last 24h +0.045%

Price spread now: Hyperliquid against edgeX+0.166%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.228%−$23 · spread now +0.166%, 7d avg +0.122%

Together, before fees−0.177%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.044% dearer against edgeX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.122%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment. 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	edgeX WLDUSDC	0.4542	0.0100	pay 0.0050% / 4h	2h 15m	$27K	$321K	20x
Short	Hyperliquid WLD	0.4549	0.0294	get 0.0037% / 1h	15m 19s	$49.3M	$44.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.166%Rate

Funding earned: $40.69
Price spread: +0.166% → +0.122%: $4.4
Slippage, 4 orders: −$14.05
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $13.04
Costs to cover: 0.320%
Break-even: 4.8 days

Slippage from edgeX: live order book, 33 min ago; Hyperliquid: live order book, 8 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 edgeX live order book, 33 min ago	4.43 bp	8.9 bp −$9	18.4 bp −$184	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.89 bp	7.0 bp −$7	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	−0.0050%	1h	0.4546	+0.102%	$242K	$209K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4547	+0.107%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4548	+0.135%	$47K	$4.8M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4541	−0.022%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0054%	8h	0.4541	−0.019%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0056%	1h	0.4546	+0.089%	$325	$55	5x	as long as short
Polymarket Perps WLD-USD	+0.0077%	1h	0.4543	+0.020%	$40K	$2.4M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4541	−0.019%	$28K	$793K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4543	+0.034%	$227K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4547	+0.113%	$51K	$539K	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	0.4544	+0.040%	$86.6M	$338.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4542	+0.003%	$64.7M	$91.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4542	+0.003%	$34.3M	$154.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4541	−0.019%	$7.2M	$37.6M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4540	−0.041%	$39.5M	$56.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4542	+0.003%	$30.0M	$31.0M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4541	−0.019%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4547	+0.104%	$135K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4542	−0.003%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDClong	+0.0100%	4h	0.4542	long leg	$27K	$321K	20x
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4535	−0.152%	$605K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4544	+0.047%	$48K	$240K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4552	+0.223%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4543	+0.025%	$206	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4540	−0.041%	$831K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4543	+0.025%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4541	−0.013%	$222K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4540	−0.035%	$31K	$600	3x	as long as short
Lighter WLD	+0.0120%	1h	0.4548	+0.133%	$4.9M	$2.9M	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4540	−0.035%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4534	−0.178%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4544	+0.047%	$6K	$185K	5.5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0190%	1h	0.4543	+0.025%	$145K	$1.0M	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4539	−0.072%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4541	−0.019%	$4.8M	$922K	75x	as long as short
Hyperliquid WLDshort	+0.0294%	1h	0.4549	+0.166%	$49.3M	$44.2M	10x
Kraken Futures PF_WLDUSD	+0.0499%	1h	0.4546	+0.091%	$865K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4553	+0.245%	$277K	$1.7M	50x	as long as short