Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.027%

Price spread now: Phemex against GMX+0.045%7-day average — · you sell dearer than you buy

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

Long on GMX 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

The price spread pays, funding is against you. Phemex is 0.045% dearer against GMX than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WLD/USD [ETH-USDC]	0.4585	L +0.0260% / S −0.2221%	pay 0.0033% / 1h	45m 38s	$9K	—	100x
Short	Phemex WLDUSDT	0.4587	0.0100	get 0.0100% / 8h	1h 45m	$1.8M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$33.64
Price spread: +0.045% → 0.000%: $4.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$53.11
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	5.47 bp	42.6 bp −$43	doesn't fit	doesn't fit	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
Kalshi KXWLDPERP	−0.0427%	8h	0.4580	−0.107%	$47K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4522	−1.372%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0008%	8h	0.4590	+0.111%	$28K	$914K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4591	+0.132%	$157K	$6K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4584	−0.014%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0008%	8h	0.4589	+0.089%	$7.1M	$10.7M	50x	as long as short
Variational Omni WLD	+0.0045%	8h	0.4543	−0.912%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0070%	1h	0.4595	+0.220%	$277K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4592	+0.145%	$215K	$974K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4592	+0.156%	$51K	$480K	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	0.4595	+0.220%	$86.8M	$294.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4595	+0.220%	$65.6M	$80.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4595	+0.220%	$34.4M	$140.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4591	+0.133%	$7.5M	$34.8M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4591	+0.133%	$52.8M	$50.5M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4594	+0.198%	$30.3M	$25.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4593	+0.176%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4589	+0.096%	$127K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4574	−0.244%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4585	−0.001%	$625K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4574	−0.238%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4597	+0.274%	$47K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4592	+0.154%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4587	+0.045%	$201	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4586	+0.024%	$866K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4587	+0.045%	$1.8M	$3.8M	50x
Extended WLD-USD	+0.0104%	1h	0.4592	+0.147%	$239K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4591	+0.126%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4558	−0.581%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4595	+0.212%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0186%	1h	0.4591	+0.130%	$922K	$2.6M	50x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0186%	1h	0.4592	+0.154%	$107K	$909K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4571	−0.304%	$4.8M	$815K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4597	+0.270%	$329	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]long	L +0.0260% / S −0.2221%	1h	0.4585	long leg	$9K	—	100x
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4581	−0.085%	$280K	$1.6M	50x	as long as short
Lighter WLD	+0.0928%	1h	0.4602	+0.368%	$5.2M	$2.1M	10x	as long as short
Hyperliquid WLD	+0.1186%	1h	0.4599	+0.314%	$49.9M	$42.8M	10x	as long as short