Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1168%/8h= +127.9% APRpaid last 24h +0.314%

Price spread now: GMX against Phemex+0.109%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 +$35 a day on $10k at the current rate, and GMX is 0.109% dearer against Phemex than usual: you sell high and buy low: +$11 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	Phemex WLDUSDT	0.4553	0.0100	pay 0.0100% / 8h	4h 40m	$1.8M	$3.7M	50x
Short	GMX WLD/USD [ETH-USDC]	0.4558	L +0.0229% / S −0.1268%	get 0.0159% / 1h	40m 12s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.109%Rate

Funding earned: $245.3
Price spread: +0.109% → 0.000%: $10.89
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $232.2
Costs to cover: 0.240%
Break-even: 0.4 days

Slippage unknown: Phemex: live order book, 4 min ago; GMX: 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 Phemex live order book, 4 min ago	2.19 bp	41.5 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0105%	8h	0.4570	+0.373%	$57K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0062%	1h	0.4561	+0.176%	$242K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0032%	8h	0.4554	+0.022%	$6.9M	$11.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4567	+0.300%	$156K	$33K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4557	+0.088%	$118K	$927K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4556	+0.063%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4558	+0.110%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0056%	1h	0.4567	+0.297%	$327	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0086%	8h	0.4555	+0.044%	$28K	$888K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4558	+0.101%	$4.9M	$2.4M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4562	+0.204%	$199K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4569	+0.362%	$49K	$528K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4550	−0.075%	$86.3M	$327.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4550	−0.066%	$64.9M	$88.9M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4552	−0.022%	$34.2M	$148.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4552	−0.022%	$7.2M	$36.8M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4552	−0.022%	$44.2M	$53.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4551	−0.044%	$30.1M	$30.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4553	0.000%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4554	+0.020%	$135K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4554	+0.014%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4565	+0.265%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4565	+0.264%	$603K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4565	+0.264%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4559	+0.138%	$48K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4565	+0.264%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4554	+0.022%	$174	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4558	+0.110%	$834K	$1.9M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4553	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4554	+0.018%	$218K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4557	+0.093%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4559	+0.136%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4569	+0.360%	$5K	$52K	10x	as long as short
Hyperliquid WLD	+0.0176%	1h	0.4557	+0.094%	$50.0M	$43.2M	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4562	+0.198%	$4.9M	$850K	75x	as long as short
GMX WLD/USD [ETH-USDC]short	L +0.0229% / S −0.1268%	1h	0.4558	+0.109%	$5K	—	100x
Kraken Futures PF_WLDUSD	+0.0481%	1h	0.4559	+0.130%	$882K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4575	+0.483%	$269K	$1.7M	50x	as long as short