Funding you earn now, next payment 08:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h +0.012%
Price spread now: Backpack against Phoenix+0.077%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.092%+$9 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Backpack is 0.077% dearer against Phoenix than usual: you sell high and buy low (spread +0.077% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.092%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix WLD | 0.4520 | 0.0194 | pay 0.0024% / 1h | 50m 28s | $4K | $44K | 10x |
| Short | Backpack WLD_USDC_PERP | 0.4523 | 0.0100 | get 0.0013% / 1h | 50m 28s | $132K | $298K | 10x |
Phoenix WLD
Backpack WLD_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$19.83
- Price spread: +0.077% → 0.000%
- $7.74
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$29.09
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Backpack: live order book, 48 min ago. 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 48 min ago | 0.44 bp | 7.5 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX WLD-USD | 0.0000% | 1h | 0.4521 | +0.016% | $154K | $32K | 10x | as long as short |
| Kalshi KXWLDPERP | 0.0000% | 8h | 0.4519 | −0.022% | $36K | $4.6M | 1.7x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4528 | +0.177% | $119K | $1.0M | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4525 | +0.111% | $65K | — | 150x | as long as short |
| Nado WLD-PERP | +0.0005% | 1h | 0.4514 | −0.133% | $234K | $175K | 5x | as long as short |
| Orderly PERP_WLD_USDC | +0.0099% | 8h | 0.4510 | −0.221% | $27K | $627K | 10x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4515 | −0.106% | $227K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4521 | +0.033% | $54K | $543K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4512 | −0.172% | $86.6M | $333.0M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4509 | −0.243% | $63.8M | $89.3M | 50x | as long as short |
dYdX WLD-USD
Kalshi KXWLDPERP
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
Nado WLD-PERP
Orderly PERP_WLD_USDC
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4510 | −0.221% | $34.2M | $149.7M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4513 | −0.155% | $7.1M | $34.5M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4512 | −0.177% | $41.8M | $55.5M | 300x | as long as short |
| KuCoin WLDUSDTM | +0.0100% | 8h | 0.4514 | −0.133% | $6.6M | $11.6M | 50x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4512 | −0.177% | $29.8M | $31.0M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4511 | −0.199% | — | $20.2M | — | as long as short |
| Backpack WLD_USDC_PERPshort | +0.0100% | 1h | 0.4523 | +0.077% | $132K | $298K | 10x | |
| Variational Omni WLD | +0.0100% | 8h | 0.4523 | +0.061% | $2.1M | $1.5M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4515 | −0.114% | $27K | $321K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4518 | −0.038% | $600K | $2.1M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4516 | −0.088% | $48K | $237K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4516 | −0.088% | $49K | $2.7M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4531 | +0.243% | $22K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4524 | +0.088% | $215 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4520 | 0.000% | $827K | $1.5M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4524 | +0.088% | $1.7M | $3.6M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4516 | −0.091% | $208K | $876K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4510 | −0.221% | $31K | $500 | 3x | as long as short |
| Injective WLD/USDC PERP | +0.0109% | 1h | 0.4508 | −0.265% | $6K | $185K | 5.5x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4510 | −0.215% | — | — | 20x | as long as short |
| Phoenix WLDlong | +0.0194% | 1h | 0.4520 | long leg | $4K | $44K | 10x | |
| 01 Exchange WLDUSD | +0.0200% | 1h | 0.4520 | −0.007% | $323 | $55 | 5x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0219% / S −0.0967% | 1h | 0.4526 | +0.131% | $4K | — | 100x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4525 | +0.111% | $4.4M | $911K | 75x | as long as short |
| Hyperliquid WLD | +0.0287% | 1h | 0.4518 | −0.042% | $50.0M | $43.1M | 10x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0303% | 1h | 0.4526 | +0.138% | $870K | $2.8M | 50x | as long as short |
| Lighter WLD | +0.0344% | 1h | 0.4526 | +0.135% | $4.9M | $2.9M | 10x | as long as short |
| Coinbase International WLD-PERP-INTX | +0.0440% | 1h | 0.4529 | +0.199% | $269K | $1.6M | 50x | as long as short |
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
KuCoin WLDUSDTM
Bitget WLDUSDT
BingX WLD-USDT
Variational Omni WLD
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Injective WLD/USDC PERP
Reya WLDRUSDPERP
01 Exchange WLDUSD
GMX WLD/USD [ETH-USDC]
BloFin WLD-USDT
Hyperliquid WLD
Kraken Futures PF_WLDUSD
Lighter WLD
Coinbase International WLD-PERP-INTX