Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0034%/8h= +3.7% APRnext payment +$0.04 per $10,000 · paid last 24h —

Price spread now: Reya against Hyperliquid−0.156%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.156% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.156% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 15 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLD	0.4529	0.0100	pay 0.0013% / 1h	7m 50s	$46.6M	$41.3M	10x
Short	Reya WLDRUSDPERP	0.4522	0.0134	get 0.0017% / 1h	7m 50s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.156%Rate

Funding earned: $7.11
Price spread: −0.156% → 0.000%: −$15.58
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$23.48
Costs to cover: 0.150%
Break-even: 30.1 days

Slippage unknown: Hyperliquid: live order book, 6 min ago; Reya: no order-book sample. 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, 6 min ago	0.77 bp	7.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0495%	8h	0.4524	−0.108%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDC	−0.0017%	8h	0.4525	−0.086%	$28K	$916K	10x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4521	−0.168%	$154K	$6K	10x	as long as short
KuCoin WLDUSDTM	0.0000%	8h	0.4523	−0.130%	$7.0M	$10.7M	50x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4525	−0.086%	$122K	$911K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	−0.097%	$56K	—	150x	as long as short
Variational Omni WLD	+0.0006%	8h	0.4520	−0.188%	$2.1M	$1.7M	—	as long as short
Nado WLD-PERP	+0.0038%	1h	0.4522	−0.152%	$271K	$169K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4522	−0.150%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0086%	8h	0.4525	−0.086%	$33.8M	$137.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0091%	8h	0.4525	−0.086%	$52.6M	$48.1M	300x	as long as short
Binance WLDUSDT	+0.0094%	8h	0.4525	−0.077%	$84.9M	$293.1M	75x	as long as short
Hyperliquid WLDlong	+0.0100%	1h	0.4529	long leg	$46.6M	$41.3M	10x
Aster WLDUSDT	+0.0100%	8h	0.4525	−0.081%	$214K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4523	−0.132%	$51K	$481K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4526	−0.064%	$64.5M	$80.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4525	−0.086%	$7.3M	$34.8M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4524	−0.108%	$30.0M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4524	−0.108%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4527	−0.035%	$128K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4520	−0.199%	$27K	$314K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4529	−0.009%	$607K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4523	−0.130%	$54K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4522	−0.148%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4529	+0.002%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4524	−0.108%	$199	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4519	−0.219%	$852K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4524	−0.108%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4524	−0.105%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4525	−0.076%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERPshort	+0.0134%	1h	0.4522	−0.156%	—	—	20x
BloFin WLD-USDT	+0.0211%	8h	0.4527	−0.042%	$4.9M	$810K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0216% / S −0.1712%	1h	0.4525	−0.088%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0312%	1h	0.4527	−0.031%	$324	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4542	+0.289%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4533	+0.091%	$278K	$1.6M	50x	as long as short
Lighter WLD	+0.0952%	1h	0.4534	+0.108%	$5.1M	$2.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1102%	1h	0.4526	−0.063%	$920K	$2.6M	50x	as long as short