Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0207%/8h= +22.7% APRpaid last 24h +0.034%

Price spread now: Nado against Kalshi−0.097%7-day average +0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Kalshi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.674%−$67 · spread now −0.097%, 7d avg +0.100%

Together, before fees−0.679%+ Points / potential airdropNado: Active · farm board−$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.197% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of +0.100%). If the spread goes back, that is −$20 on $10k: about 3.2 days of funding at the current rate (+$6 a day).

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.006% in total (about -0.6% 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	Kalshi KXWLDPERP	0.4661	−0.0138	get 0.0138% / 8h	1h 52m	$61K	$4.5M	1.7x
Short	Nado WLD-PERP	0.4656	0.0069	get 0.0009% / 1h	52m 16s	$270K	$187K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Kalshi. 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 KalshibpFee NadobpOrdersPrice spread, now −0.097%Rate

Funding earned: $43.48
Price spread: −0.097% → +0.100%: −$19.68
Slippage, 4 orders: −$35.55
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$28.75
Costs to cover: 0.526%
Break-even: 11.6 days

Slippage from Kalshi: live order book, 1 min ago; Nado: live order book, 10 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 Kalshi live order book, 1 min ago	6.45 bp	11.5 bp −$11	19.4 bp −$194	doesn't fit	doesn't fit
Sell Nado live order book, 10 min ago	7.36 bp	10.9 bp −$11	29.2 bp −$292	doesn't fit	doesn't fit

WLD on 37 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
ApeX Omni WLDUSDT	−0.1098%	1h	0.4631	−0.644%	$51K	$236K	50x	as long as short
Kalshi KXWLDPERPlong	−0.0138%	8h	0.4661	long leg	$61K	$4.5M	1.7x
KuCoin WLDUSDTM	−0.0037%	8h	0.4654	−0.150%	$7.1M	$11.5M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4663	+0.037%	$166K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4647	−0.300%	$120K	$924K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4650	−0.239%	$56K	—	150x	as long as short
Nado WLD-PERPshort	+0.0069%	1h	0.4656	−0.097%	$270K	$187K	5x
Orderly PERP_WLD_USDC	+0.0069%	8h	0.4646	−0.322%	$28K	$894K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4656	−0.106%	$179K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4664	+0.068%	$51K	$510K	5x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4652	−0.199%	$88.5M	$323.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4648	−0.279%	$66.5M	$87.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4648	−0.279%	$35.1M	$149.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4658	−0.064%	$7.3M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4656	−0.107%	$45.8M	$54.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4646	−0.322%	$30.9M	$29.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4653	−0.172%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4651	−0.219%	$137K	$285K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4684	+0.488%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4653	−0.163%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4654	−0.141%	$615K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4656	−0.103%	$63K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4665	+0.086%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4649	−0.257%	$297	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4653	−0.172%	$850K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4652	−0.193%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4647	−0.305%	$215K	$887K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4648	−0.279%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4654	−0.156%	—	—	20x	as long as short
Phoenix WLD	+0.0172%	1h	0.4648	−0.279%	$5K	$57K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4652	−0.196%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0240%	1h	0.4660	−0.013%	$333	$80	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4663	+0.043%	$276K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0550%	1h	0.4663	+0.043%	$51.9M	$42.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4650	−0.236%	$6K	$185K	5.5x	as long as short
Lighter WLD	+0.0784%	1h	0.4657	−0.094%	$5.1M	$2.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0890%	1h	0.4652	−0.185%	$904K	$2.9M	50x	as long as short