Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.011%

Price spread now: Gate against Phemex−0.112%49s7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1171.174% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.628%−$63 · spread now −0.112%, 7d avg −0.024%

Together, before fees−0.739%−$74 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.088% cheaper against Phemex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4483	0.0100	pay 0.0100% / 8h	7h 27m	$1.7M	$3.6M	50x
Short	Gate WLD_USDT	0.4478	0.0100	get 0.0100% / 8h	7h 27m	$7.0M	$34.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phemex. 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 PhemexbpFee GatebpOrdersPrice spread, now −0.112%Rate

Funding earned: $0
Price spread: −0.112% → −0.024%: −$8.8
Slippage, 4 orders: −$90.4
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$126.21
Costs to cover: 1.174%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Gate: live order book, 1 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 Phemex live order book, 1 min ago	10.06 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.24 bp	15.6 bp −$16	34.8 bp −$348	51.3 bp −$5,133	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	−0.0009%	1h	0.4477	−0.128%	$232K	$175K	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4475	−0.178%	$49K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4478	−0.112%	$115K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4472	−0.247%	$65K	—	150x	as long as short
Bybit WLDUSDT	+0.0035%	8h	0.4475	−0.178%	$63.4M	$89.2M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4477	−0.134%	$27K	$577K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4480	−0.058%	$224K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4481	−0.037%	$55K	$553K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4478	−0.114%	$85.4M	$334.3M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4474	−0.201%	$33.9M	$148.4M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDTshort	+0.0100%	8h	0.4478	−0.112%	$7.0M	$34.8M	75x
MEXC WLD_USDT	+0.0100%	8h	0.4478	−0.112%	$41.2M	$56.5M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4479	−0.089%	$6.6M	$11.7M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4477	−0.134%	$29.5M	$31.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4479	−0.089%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4481	−0.056%	$130K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4480	−0.072%	$2.1M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4481	−0.049%	$27K	$322K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4480	−0.066%	$590K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4483	0.000%	$48K	$237K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4479	−0.083%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4482	−0.022%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4476	−0.156%	$216	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4470	−0.290%	$819K	$1.4M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4483	long leg	$1.7M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4474	−0.207%	$212K	$907K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4477	−0.128%	$30K	$500	3x	as long as short
Hyperliquid WLD	+0.0107%	1h	0.4481	−0.040%	$49.6M	$43.1M	10x	as long as short
Injective WLD/USDC PERP	+0.0109%	1h	0.4508	+0.558%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4474	−0.195%	—	—	20x	as long as short
Lighter WLD	+0.0160%	1h	0.4488	+0.120%	$4.9M	$2.9M	10x	as long as short
01 Exchange WLDUSD	+0.0168%	1h	0.4480	−0.058%	$321	$55	5x	as long as short
Phoenix WLD	+0.0194%	1h	0.4483	+0.002%	$4K	$44K	10x	as long as short
dYdX WLD-USD	+0.0214%	1h	0.4482	−0.027%	$153K	$31K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4478	−0.106%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4481	−0.045%	$4.4M	$924K	75x	as long as short
Kraken Futures PF_WLDUSD	+0.0306%	1h	0.4479	−0.094%	$887K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4485	+0.045%	$266K	$1.6M	50x	as long as short