Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0129%/8h= −14.2% APRpaid last 24h −0.053%

Price spread now: Bybit against GMX−0.050%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bybit

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.050% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WLD/USD [ETH-USDC]	0.4578	L +0.0229% / S −0.1268%	pay 0.0029% / 1h	20m 01s	$5K	—	100x
Short	Bybit WLDUSDT	0.4576	0.0100	get 0.0100% / 8h	4h 20m	$65.1M	$89.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$27.18
Price spread: −0.050% → 0.000%: −$5.05
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$55.22
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.09 bp	11.9 bp −$12	21.3 bp −$213	110.0 bp −$11.0K	doesn't fit

GMX: 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
Nado WLD-PERP	−0.0040%	1h	0.4581	+0.048%	$243K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0007%	8h	0.4579	+0.015%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4580	+0.039%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4579	+0.015%	$46K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4580	+0.037%	$118K	$942K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4579	+0.022%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−0.749%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0094%	8h	0.4578	−0.007%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4585	+0.155%	$4.9M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4582	+0.089%	$211K	$1.1M	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	0.4584	+0.116%	$49K	$527K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4578	−0.007%	$86.8M	$328.2M	75x	as long as short
Bybit WLDUSDTshort	+0.0100%	8h	0.4576	−0.050%	$65.1M	$89.2M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4581	+0.059%	$34.3M	$149.8M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4577	−0.029%	$7.2M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4579	+0.015%	$44.0M	$54.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4579	+0.015%	$30.2M	$30.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4578	−0.007%	—	$67.5M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4579	+0.017%	$137K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4579	+0.007%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4586	+0.177%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4593	+0.321%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4598	+0.430%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4577	−0.040%	$40K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4584	+0.124%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4579	+0.015%	$170	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4579	+0.015%	$837K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4579	+0.015%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4578	−0.011%	$221K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4580	+0.026%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4576	−0.046%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4580	+0.041%	$328	$80	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4598	+0.424%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4583	+0.102%	$4.8M	$832K	75x	as long as short
GMX WLD/USD [ETH-USDC]long	L +0.0229% / S −0.1268%	1h	0.4578	long leg	$5K	—	100x
Hyperliquid WLD	+0.0333%	1h	0.4583	+0.113%	$50.3M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0479%	1h	0.4581	+0.055%	$884K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4593	+0.321%	$269K	$1.7M	50x	as long as short