Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0072%/8h= +7.8% APRpaid last 24h −0.010%

Price spread now: Phoenix against MEXC+0.209%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.209% dearer against MEXC than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WLD_USDT	0.4633	0.0100	pay 0.0100% / 8h	5h 29m	$46.0M	$54.4M	300x
Short	Phoenix WLD	0.4643	0.0172	get 0.0021% / 1h	29m 27s	$5K	$57K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against MEXC. 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 MEXCbpFee PhoenixbpOrdersPrice spread, now +0.209%Rate

Funding earned: $15.03
Price spread: +0.209% → 0.000%: $20.94
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $28.97
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 min ago; Phoenix: 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 MEXC live order book, 4 min ago	1.08 bp	1.1 bp −$1	5.3 bp −$53	25.8 bp −$2,576	79.5 bp −$39.7K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0132%	8h	0.4639	+0.130%	$52K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0036%	8h	0.4633	0.000%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4633	−0.010%	$165K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4637	+0.086%	$120K	$923K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4632	−0.022%	$55K	—	150x	as long as short
Nado WLD-PERP	+0.0019%	1h	0.4630	−0.065%	$268K	$187K	5x	as long as short
Orderly PERP_WLD_USDC	+0.0074%	8h	0.4631	−0.043%	$28K	$893K	10x	as long as short
01 Exchange WLDUSD	+0.0080%	1h	0.4631	−0.039%	$331	$80	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4635	+0.033%	$174K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4633	+0.003%	$49K	$511K	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	0.4632	−0.015%	$88.0M	$325.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4630	−0.065%	$66.1M	$87.9M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4630	−0.065%	$35.0M	$149.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4632	−0.022%	$7.2M	$36.8M	75x	as long as short
MEXC WLD_USDTlong	+0.0100%	8h	0.4633	long leg	$46.0M	$54.4M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4632	−0.022%	$30.6M	$29.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4632	−0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4637	+0.076%	$137K	$290K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4635	+0.033%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4632	−0.027%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4645	+0.259%	$610K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4640	+0.151%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4632	−0.030%	$57K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4640	+0.151%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4635	+0.043%	$176	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4643	+0.216%	$848K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4634	+0.022%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4630	−0.072%	$214K	$927K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4636	+0.064%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4631	−0.039%	—	—	20x	as long as short
Phoenix WLDshort	+0.0172%	1h	0.4643	+0.209%	$5K	$57K	10x
BloFin WLD-USDT	+0.0220%	8h	0.4641	+0.173%	$5.0M	$805K	75x	as long as short
Lighter WLD	+0.0224%	1h	0.4639	+0.127%	$5.0M	$2.3M	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4632	−0.027%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0475%	1h	0.4639	+0.134%	$51.6M	$42.9M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4646	+0.281%	$276K	$1.7M	50x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4616	−0.367%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0893%	1h	0.4638	+0.105%	$898K	$2.9M	50x	as long as short