Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h —

Price spread now: Reya against Phemex−0.448%46s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.448% cheaper against Phemex than usual: you would sell low and buy high (spread −0.448% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$45 on $10k: about 44 days of funding at the current rate (+$1 a day). The two prices were read 46 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	0.4621	0.0100	pay 0.0100% / 8h	6h 38m	$1.8M	$3.7M	50x
Short	Reya WLDRUSDPERP	0.4600	0.0134	get 0.0017% / 1h	38m 22s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.448%Rate

Funding earned: $7.11
Price spread: −0.448% → 0.000%: −$44.8
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$55.69
Costs to cover: 0.180%
Break-even: 61.9 days

Slippage unknown: Phemex: live order book, 5 min ago; Reya: 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, 5 min ago	9.61 bp	41.4 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Injective WLD/USDC PERP	−0.0235%	1h	0.4675	+1.169%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0163%	8h	0.4612	−0.195%	$44K	$4.4M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0043%	8h	0.4597	−0.519%	$6.9M	$11.4M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4606	−0.323%	$157K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4622	+0.022%	$130K	$909K	25x	as long as short
Nado WLD-PERP	+0.0002%	1h	0.4599	−0.476%	$267K	$178K	5x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4592	−0.628%	$66K	—	150x	as long as short
ApeX Omni WLDUSDT	+0.0016%	1h	0.4681	+1.298%	$51K	$241K	50x	as long as short
Orderly PERP_WLD_USDC	+0.0055%	8h	0.4620	−0.022%	$28K	$898K	10x	as long as short
Gate WLD_USDT	+0.0060%	8h	0.4603	−0.390%	$7.3M	$37.1M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix WLD	+0.0068%	1h	0.4673	+1.117%	$5K	$54K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4604	−0.368%	$176K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4606	−0.324%	$56K	$509K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4593	−0.603%	$87.2M	$323.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4590	−0.671%	$65.6M	$86.8M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4603	−0.390%	$34.7M	$150.1M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4601	−0.433%	$46.3M	$55.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4599	−0.476%	$30.6M	$29.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4592	−0.628%	—	$67.6M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4621	0.000%	$138K	$291K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4629	+0.168%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4680	+1.284%	$28K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4618	−0.055%	$606K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4605	−0.353%	$53K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4626	+0.108%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4618	−0.065%	$221	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4624	+0.065%	$875K	$1.9M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4621	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4596	−0.542%	$212K	$887K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4622	+0.022%	$31K	$600	3x	as long as short
Reya WLDRUSDPERPshort	+0.0134%	1h	0.4600	−0.448%	—	—	20x
BloFin WLD-USDT	+0.0220%	8h	0.4719	+2.121%	$5.0M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0238% / S −0.1538%	1h	0.4592	−0.631%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0272%	1h	0.4602	−0.411%	$329	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0456%	1h	0.4632	+0.238%	$274K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0598%	1h	0.4608	−0.277%	$51.5M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0647%	1h	0.4623	+0.050%	$905K	$2.8M	50x	as long as short
Lighter WLD	+0.0872%	1h	0.4616	−0.119%	$5.2M	$2.1M	10x	as long as short