Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0789%/8h= −86.4% APRpaid last 24h −0.050%

Price spread now: KuCoin against Hyperliquid−0.300%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$490.485% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 7 days+0.332%+$33 · spread now −0.300%, 7d avg −0.080%

Together, before fees+0.224%+ Points / potential airdropHyperliquid: Season 2 · farm board+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and KuCoin is 0.220% cheaper against Hyperliquid than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.080%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.108% in total (about -5.6% 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	Hyperliquid WLD	0.4669	0.0771	pay 0.0096% / 1h	30m 45s	$52.0M	$43.5M	10x
Short	KuCoin WLDUSDTM	0.4655	−0.0018	pay 0.0018% / 8h	7h 30m	$7.0M	$11.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.300%Rate

Funding earned: −$165.73
Price spread: −0.300% → −0.080%: −$22
Slippage, 4 orders: −$27.51
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$236.23
Costs to cover: 0.485%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; KuCoin: live order book, 3 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 Hyperliquid live order book, 3 min ago	0.11 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	2.15 bp	14.9 bp −$15	44.0 bp −$440	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
Kalshi KXWLDPERP	−0.0178%	8h	0.4665	−0.086%	$38K	$3.9M	1.7x	as long as short
Phemex WLDUSDT	−0.0056%	8h	0.4659	−0.214%	$1.9M	$3.7M	50x	as long as short
Nado WLD-PERP	−0.0028%	1h	0.4667	−0.032%	$279K	$170K	5x	as long as short
KuCoin WLDUSDTMshort	−0.0018%	8h	0.4655	−0.300%	$7.0M	$11.1M	50x
dYdX WLD-USD	0.0000%	1h	0.4659	−0.208%	$166K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4658	−0.236%	$133K	$871K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4662	−0.148%	$57K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4659	−0.214%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0043%	8h	0.4659	−0.214%	$28K	$903K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4664	−0.106%	$194K	$961K	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	0.4660	−0.188%	$54K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4659	−0.221%	$88.6M	$305.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4659	−0.214%	$67.1M	$82.3M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4659	−0.214%	$35.1M	$146.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4659	−0.214%	$7.6M	$35.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4659	−0.214%	$48.1M	$53.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4659	−0.214%	$30.9M	$26.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4661	−0.171%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4661	−0.180%	$138K	$280K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4661	−0.176%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4654	−0.315%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4662	−0.150%	$616K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4673	+0.086%	$55K	$229K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4672	+0.071%	$56K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4664	−0.107%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4658	−0.236%	$218	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4659	−0.214%	$867K	$1.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4659	−0.224%	$220K	$863K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4661	−0.165%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4664	−0.101%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4655	−0.302%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4660	−0.193%	$4.9M	$863K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0239% / S −0.1538%	1h	0.4661	−0.164%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4677	+0.180%	$335	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0323%	1h	0.4662	−0.149%	$916K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4670	+0.021%	$277K	$1.7M	50x	as long as short
Hyperliquid WLDlong	+0.0771%	1h	0.4669	long leg	$52.0M	$43.5M	10x
Lighter WLD	+0.0936%	1h	0.4668	−0.019%	$5.3M	$2.0M	10x	as long as short