Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: Phemex against gTrade (Gains Network)−0.108%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.108% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.108% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) WLD/USD	0.4626	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	39m 11s	$66K	—	150x
Short	Phemex WLDUSDT	0.4621	0.0100	get 0.0100% / 8h	6h 39m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.108%Rate

Funding earned: $20.33
Price spread: −0.108% → 0.000%: −$10.77
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$12.44
Costs to cover: 0.220%
Break-even: 11.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 5 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	9.61 bp	49.1 bp −$49	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective WLD/USDC PERP	−0.0235%	1h	0.4675	+1.060%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0163%	8h	0.4612	−0.302%	$44K	$4.4M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0043%	8h	0.4619	−0.151%	$6.9M	$11.4M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4616	−0.209%	$157K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4622	−0.086%	$130K	$909K	25x	as long as short
Nado WLD-PERP	0.0000%	1h	0.4619	−0.140%	$268K	$178K	5x	as long as short
gTrade (Gains Network) WLD/USDlong	L +0.0003% / S −0.0003%	1h	0.4626	long leg	$66K	—	150x
ApeX Omni WLDUSDT	+0.0016%	1h	0.4681	+1.189%	$51K	$241K	50x	as long as short
Orderly PERP_WLD_USDC	+0.0055%	8h	0.4620	−0.129%	$28K	$898K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4673	+1.008%	$5K	$54K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDT	+0.0072%	8h	0.4614	−0.259%	$7.3M	$37.0M	75x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4612	−0.303%	$176K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4615	−0.234%	$56K	$509K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4618	−0.173%	$87.6M	$323.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4617	−0.194%	$66.0M	$86.8M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4618	−0.173%	$34.8M	$150.6M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4618	−0.173%	$46.4M	$55.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4613	−0.281%	$30.7M	$29.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4615	−0.237%	—	$67.6M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4621	−0.108%	$138K	$291K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4629	+0.061%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4680	+1.175%	$28K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4618	−0.162%	$606K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4622	−0.075%	$53K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4626	0.000%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4618	−0.173%	$221	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4624	−0.043%	$875K	$1.9M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4621	−0.108%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4618	−0.174%	$213K	$888K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4622	−0.086%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4620	−0.123%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4719	+2.011%	$5.0M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0239% / S −0.1538%	1h	0.4624	−0.036%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0280%	1h	0.4620	−0.140%	$330	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4632	+0.130%	$274K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0609%	1h	0.4625	−0.015%	$51.7M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0647%	1h	0.4623	−0.058%	$905K	$2.8M	50x	as long as short
Lighter WLD	+0.0872%	1h	0.4629	+0.070%	$5.3M	$2.1M	10x	as long as short