Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.034%

Price spread now: Phemex against Nado−0.098%7-day average +0.037% · 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−$117as in the Price arb table

costs, in and out, $10k−$1031.035% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.146%+$15 on $10k

Price spread, last 4 days (all we have)+0.334%+$33 · spread now −0.098%, 7d avg +0.037%

Together, before fees+0.479%+ Points / potential airdropNado: Active · farm board+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.135% cheaper against Nado than usual: you would sell low and buy high (spread −0.098% now, against its 7-day average of +0.037%). If the spread goes back, that is −$14 on $10k: about 3.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WLD-PERP	0.4575	−0.0034	get 0.0004% / 1h	5m 16s	$241K	$170K	5x
Short	Phemex WLDUSDT	0.4570	0.0100	get 0.0100% / 8h	2h 05m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now −0.098%Rate

Funding earned: $28.15
Price spread: −0.098% → +0.037%: −$13.54
Slippage, 4 orders: −$84.47
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$88.86
Costs to cover: 1.035%
Break-even: 29.1 days

Slippage from Nado: live order book, 42 min ago; Phemex: 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 Nado live order book, 42 min ago	2.11 bp	9.5 bp −$9	30.9 bp −$309	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	9.85 bp	42.9 bp −$43	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-PERPlong	−0.0034%	1h	0.4575	long leg	$241K	$170K	5x
dYdX WLD-USD	0.0000%	1h	0.4579	+0.092%	$156K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4573	−0.033%	$54K	$4.8M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4572	−0.055%	$152K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4574	−0.016%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0067%	8h	0.4573	−0.033%	$6.8M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0072%	1h	0.4575	+0.009%	$327	$55	5x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4573	−0.033%	$27K	$791K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4578	+0.076%	$228K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4579	+0.099%	$51K	$538K	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	0.4575	+0.003%	$87.1M	$339.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4574	−0.011%	$65.2M	$91.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4570	−0.098%	$34.7M	$156.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4576	+0.033%	$7.2M	$37.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4573	−0.033%	$40.4M	$56.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4568	−0.142%	$30.2M	$31.3M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4575	+0.011%	—	$70.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4582	+0.155%	$133K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4579	+0.092%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4574	−0.019%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4582	+0.164%	$604K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4577	+0.055%	$49K	$240K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4572	−0.044%	$47K	$2.4M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4584	+0.208%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4571	−0.077%	$215	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4572	−0.055%	$836K	$1.7M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4570	−0.098%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4569	−0.116%	$211K	$1.0M	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4572	−0.066%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4572	−0.049%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4578	+0.072%	$5K	$52K	10x	as long as short
Lighter WLD	+0.0168%	1h	0.4577	+0.057%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4544	−0.667%	$6K	$185K	5.5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4574	−0.019%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4573	−0.033%	$4.8M	$923K	75x	as long as short
Hyperliquid WLD	+0.0354%	1h	0.4581	+0.131%	$49.9M	$44.6M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0496%	1h	0.4572	−0.049%	$865K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4575	+0.011%	$276K	$1.7M	50x	as long as short