Funding you earn now, next payment 03:00 UTC+0.0324%/8h= +35.4% APRnext payment +$0.40 per $10,000 · paid last 24h +0.045%
Price spread now: Kraken Futures against Phoenix−0.229%71s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.169%+$17 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. Kraken Futures is 0.229% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.229% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 2.4 days of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.169% in total) that is about 9.5 days. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.169% in total (about 8.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix WLD | 0.4569 | 0.0158 | pay 0.0020% / 1h | 40m 13s | $5K | $52K | 10x |
| Short | Kraken Futures PF_WLDUSD | 0.4559 | 0.0481 | get 0.0060% / 1h | 40m 13s | $882K | $2.8M | 50x |
Phoenix WLD
Kraken Futures PF_WLDUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $67.98
- Price spread: −0.229% → 0.000%
- −$22.92
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $28.06
- Costs to cover
- 0.170%
- Break-even
- 4.1 days
Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago | 9.86 bp | 19.1 bp −$19 | 30.6 bp −$306 | 1017.7 bp −$101.8K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXWLDPERP | −0.0105% | 8h | 0.4570 | +0.013% | $57K | $4.6M | 1.7x | as long as short |
| Nado WLD-PERP | −0.0062% | 1h | 0.4561 | −0.184% | $242K | $205K | 5x | as long as short |
| KuCoin WLDUSDTM | −0.0032% | 8h | 0.4562 | −0.162% | $6.9M | $11.7M | 50x | as long as short |
| dYdX WLD-USD | 0.0000% | 1h | 0.4567 | −0.060% | $156K | $33K | 10x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4557 | −0.271% | $118K | $927K | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4556 | −0.296% | $66K | — | 150x | as long as short |
| Injective WLD/USDC PERP | +0.0014% | 1h | 0.4558 | −0.249% | $6K | $185K | 5.5x | as long as short |
| 01 Exchange WLDUSD | +0.0056% | 1h | 0.4567 | −0.063% | $327 | $80 | 5x | as long as short |
| Orderly PERP_WLD_USDC | +0.0086% | 8h | 0.4555 | −0.315% | $28K | $888K | 10x | as long as short |
| Lighter WLD | +0.0096% | 1h | 0.4558 | −0.258% | $4.9M | $2.4M | 10x | as long as short |
Kalshi KXWLDPERP
Nado WLD-PERP
KuCoin WLDUSDTM
dYdX WLD-USD
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
Injective WLD/USDC PERP
01 Exchange WLDUSD
Orderly PERP_WLD_USDC
Lighter WLDShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster WLDUSDT | +0.0100% | 8h | 0.4567 | −0.059% | $199K | $1.1M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4569 | +0.002% | $49K | $528K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4558 | −0.256% | $86.4M | $327.2M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4554 | −0.337% | $64.9M | $88.9M | 50x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4555 | −0.315% | $34.3M | $148.7M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4562 | −0.162% | $7.2M | $36.8M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4562 | −0.162% | $44.3M | $53.9M | 300x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4557 | −0.271% | $30.1M | $30.1M | 75x | as long as short |
| BingX WLD-USDC | +0.0100% | 8h | 0.4557 | −0.271% | — | $1.3M | — | as long as short |
| Backpack WLD_USDC_PERP | +0.0100% | 1h | 0.4561 | −0.182% | $135K | $298K | 10x | as long as short |
| Variational Omni WLD | +0.0100% | 8h | 0.4554 | −0.345% | $2.1M | $1.7M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4565 | −0.095% | $27K | $318K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4565 | −0.096% | $603K | $1.9M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4565 | −0.096% | $43K | $239K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4559 | −0.221% | $48K | $2.1M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4565 | −0.096% | $23K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4554 | −0.337% | $174 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4558 | −0.249% | $834K | $1.9M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4553 | −0.359% | $1.8M | $3.7M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4554 | −0.341% | $218K | $981K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4557 | −0.267% | $31K | $600 | 3x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4559 | −0.223% | — | — | 20x | as long as short |
| Phoenix WLDlong | +0.0158% | 1h | 0.4569 | long leg | $5K | $52K | 10x | |
| Hyperliquid WLD | +0.0185% | 1h | 0.4567 | −0.061% | $50.1M | $43.2M | 10x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4562 | −0.162% | $4.9M | $850K | 75x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0229% / S −0.1268% | 1h | 0.4558 | −0.250% | $5K | — | 100x | as long as short |
| Kraken Futures PF_WLDUSDshort | +0.0481% | 1h | 0.4559 | −0.229% | $882K | $2.8M | 50x | |
| Coinbase International WLD-PERP-INTX | +0.0496% | 1h | 0.4575 | +0.123% | $269K | $1.7M | 50x | as long as short |
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDT
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
Bitget WLDUSDT
BingX WLD-USDC
Backpack WLD_USDC_PERP
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
Reya WLDRUSDPERP
Hyperliquid WLD
BloFin WLD-USDT
GMX WLD/USD [ETH-USDC]
Coinbase International WLD-PERP-INTX