Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0386%/8h= −42.2% APRpaid last 24h −0.103%

Price spread now: Kalshi against Hyperliquid−0.154%7-day average −0.200% · you buy dearer than you sell

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

Long on Hyperliquid Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.352%−$35 on $10k

Price spread, last 7 days+0.070%+$7 · spread now −0.154%, 7d avg −0.200%

Together, before fees−0.282%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.046% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.154% now, against its 7-day average of −0.200%): +$5 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.352% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLD	0.4540	0.0386	pay 0.0048% / 1h	23m 55s	$49.9M	$43.4M	10x
Short	Kalshi KXWLDPERP	0.4533	0	get 0.0000% / 8h	7h 23m	$66K	$4.7M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hyperliquid. 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 HyperliquidbpFee KalshibpOrdersPrice spread, now −0.154%Rate

Funding earned: −$81
Price spread: −0.154% → −0.200%: $4.55
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$95.44
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Kalshi: 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 Hyperliquid live order book, 10 min ago	0.33 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.19 bp	22.5 bp −$23	29.8 bp −$298	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	−0.0029%	1h	0.4540	−0.011%	$241K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4540	+0.002%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERPshort	0.0000%	8h	0.4533	−0.154%	$66K	$4.7M	1.7x
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4532	−0.176%	$123K	$939K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4536	−0.093%	$65K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0025%	8h	0.4532	−0.176%	$6.9M	$11.7M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4538	−0.044%	$208K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4539	−0.015%	$49K	$524K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4536	−0.088%	$86.5M	$330.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4533	−0.154%	$64.5M	$89.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4531	−0.198%	$34.3M	$150.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4535	−0.110%	$7.2M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4535	−0.110%	$40.7M	$54.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4531	−0.198%	$30.0M	$30.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4534	−0.132%	—	$67.7M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4534	−0.126%	$134K	$304K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4546	+0.125%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4554	+0.316%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4562	+0.485%	$600K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4557	+0.374%	$43K	$238K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4536	−0.093%	$39K	$2.1M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4533	−0.154%	$28K	$868K	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4543	+0.066%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4532	−0.176%	$203	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4530	−0.220%	$830K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4532	−0.176%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4530	−0.215%	$216K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4534	−0.123%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4535	−0.118%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.793%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4552	+0.275%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4544	+0.088%	$4.9M	$890K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4536	−0.094%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0288%	1h	0.4543	+0.073%	$325	$55	5x	as long as short
Hyperliquid WLDlong	+0.0386%	1h	0.4540	long leg	$49.9M	$43.4M	10x
Kraken Futures PF_WLDUSD	+0.0524%	1h	0.4535	−0.119%	$881K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4539	−0.022%	$265K	$1.6M	50x	as long as short
Lighter WLD	+0.0824%	1h	0.4542	+0.051%	$5.1M	$2.6M	10x	as long as short