Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.027%

Price spread now: Phoenix against Phemex−0.135%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.130%−$13 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.135% cheaper against Phemex than usual: you would sell low and buy high (spread −0.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 19 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.130%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4603	0.0100	pay 0.0100% / 8h	1h 05m	$1.8M	$3.7M	50x
Short	Phoenix WLD	0.4597	0.0124	get 0.0015% / 1h	5m 17s	$5K	$53K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.135%Rate

Funding earned: $5.03
Price spread: −0.135% → 0.000%: −$13.47
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$27.44
Costs to cover: 0.190%
Break-even: 45.2 days

Slippage unknown: Phemex: live order book, 3 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 Phemex live order book, 3 min ago	3.27 bp	45.9 bp −$46	doesn't fit	doesn't fit	doesn't fit
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	−0.0275%	8h	0.4598	−0.109%	$61K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4578	−0.543%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4598	−0.113%	$164K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4605	+0.043%	$109K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4604	+0.025%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0006%	8h	0.4602	−0.022%	$7.0M	$10.8M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0006%	8h	0.4604	+0.022%	$28K	$911K	10x	as long as short
Nado WLD-PERP	+0.0048%	1h	0.4605	+0.043%	$277K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4604	+0.031%	$195K	$999K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4600	−0.069%	$53K	$481K	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	0.4603	+0.009%	$87.1M	$297.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4603	0.000%	$66.0M	$82.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4603	0.000%	$34.5M	$142.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4603	0.000%	$7.5M	$35.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4605	+0.043%	$49.6M	$52.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4604	+0.022%	$30.4M	$25.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4604	+0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4598	−0.115%	$130K	$269K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4593	−0.220%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4584	−0.407%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4591	−0.254%	$617K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4586	−0.369%	$55K	$228K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4608	+0.111%	$41K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4610	+0.152%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4603	0.000%	$203	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4596	−0.152%	$868K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4603	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4602	−0.030%	$241K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4606	+0.063%	$31K	$5K	3x	as long as short
Phoenix WLDshort	+0.0124%	1h	0.4597	−0.135%	$5K	$53K	10x
Reya WLDRUSDPERP	+0.0134%	1h	0.4605	+0.041%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0185%	1h	0.4607	+0.077%	$920K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4605	+0.043%	$4.9M	$819K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4609	+0.135%	$330	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0261% / S −0.2221%	1h	0.4604	+0.020%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4609	+0.130%	$272K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0675%	1h	0.4612	+0.187%	$50.1M	$43.0M	10x	as long as short
Lighter WLD	+0.1032%	1h	0.4614	+0.245%	$5.2M	$2.1M	10x	as long as short