Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0406%/8h= −44.5% APRpaid last 24h −0.040%

Price spread now: SunX against Kraken Futures−0.015%7-day average +0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1231.233% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.015%, 7d avg +0.099%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and SunX is 0.113% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.099%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.068% in total (about -3.5% 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	Kraken Futures PF_WLDUSD	0.4479	0.0506	pay 0.0063% / 1h	26m 01s	$852K	$2.9M	50x
Short	SunX WLD-USDT	0.4478	0.0100	get 0.0100% / 8h	2h 26m	$22K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. 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 Kraken FuturesbpFee SunXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$85.26
Price spread: −0.015% → +0.099%: −$11.34
Slippage, 4 orders: −$105.27
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$219.87
Costs to cover: 1.233%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SunX: live order book, 9 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 Kraken Futures live order book, 3 min ago	4.47 bp	24.6 bp −$25	33.2 bp −$332	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	29.88 bp	48.3 bp −$48	doesn't fit	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	−0.0051%	1h	0.4475	−0.070%	$240K	$207K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4476	−0.053%	$153K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4480	+0.030%	$69K	$4.8M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4477	−0.042%	$65K	—	150x	as long as short
Polymarket Perps WLD-USD	+0.0044%	1h	0.4475	−0.093%	$39K	$2.4M	10x	as long as short
KuCoin WLDUSDTM	+0.0044%	8h	0.4473	−0.126%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0048%	1h	0.4475	−0.077%	$320	$55	5x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4476	−0.059%	$28K	$808K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4481	+0.050%	$224K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4477	−0.036%	$50K	$542K	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	0.4481	+0.052%	$85.4M	$338.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4475	−0.082%	$63.7M	$91.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4476	−0.059%	$33.7M	$152.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4475	−0.082%	$7.3M	$37.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4478	−0.015%	$38.7M	$55.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4476	−0.059%	$29.4M	$30.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4479	+0.008%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4478	−0.023%	$133K	$305K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4475	−0.087%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4489	+0.241%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4483	+0.097%	$592K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4492	+0.298%	$48K	$240K	50x	as long as short
SunX WLD-USDTshort	+0.0100%	8h	0.4478	−0.015%	$22K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4476	−0.059%	$204	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4466	−0.283%	$817K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4478	−0.015%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4475	−0.082%	$219K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4476	−0.059%	$30K	$600	3x	as long as short
Lighter WLD	+0.0112%	1h	0.4481	+0.043%	$4.9M	$2.9M	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4477	−0.041%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4490	+0.251%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	+0.767%	$6K	$185K	5.5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0197%	1h	0.4478	−0.015%	$143K	$1.0M	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4477	−0.041%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4471	−0.171%	$4.8M	$916K	75x	as long as short
Hyperliquid WLD	+0.0270%	1h	0.4479	+0.014%	$48.4M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSDlong	+0.0506%	1h	0.4479	long leg	$852K	$2.9M	50x
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4479	+0.008%	$273K	$1.6M	50x	as long as short