Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0072%/8h= −7.8% APRpaid last 24h +0.010%

Price spread now: MEXC against Phoenix−0.381%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.381% cheaper against Phoenix than usual: you would sell low and buy high (−$38 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix WLD	0.4643	0.0172	pay 0.0021% / 1h	29m 12s	$5K	$57K	10x
Short	MEXC WLD_USDT	0.4625	0.0100	get 0.0100% / 8h	5h 29m	$45.9M	$54.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phoenix. 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 PhoenixbpFee MEXCbpOrdersPrice spread, now −0.381%Rate

Funding earned: −$15.03
Price spread: −0.381% → 0.000%: −$38.12
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$60.16
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	1.08 bp	3.5 bp −$3	7.7 bp −$77	33.6 bp −$3,364	84.0 bp −$42.0K

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	−0.0131%	8h	0.4629	−0.295%	$53K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0036%	8h	0.4633	−0.209%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4633	−0.219%	$165K	$26K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4631	−0.252%	$120K	$923K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4632	−0.230%	$55K	—	150x	as long as short
Nado WLD-PERP	+0.0019%	1h	0.4630	−0.274%	$268K	$187K	5x	as long as short
Orderly PERP_WLD_USDC	+0.0074%	8h	0.4631	−0.252%	$28K	$893K	10x	as long as short
01 Exchange WLDUSD	+0.0080%	1h	0.4631	−0.248%	$331	$80	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4635	−0.168%	$174K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4633	−0.205%	$49K	$511K	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	0.4628	−0.317%	$87.9M	$325.3M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4624	−0.403%	$66.0M	$88.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4625	−0.381%	$34.9M	$149.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4632	−0.230%	$7.2M	$36.8M	75x	as long as short
MEXC WLD_USDTshort	+0.0100%	8h	0.4625	−0.381%	$45.9M	$54.4M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4628	−0.317%	$30.6M	$29.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4632	−0.230%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4637	−0.134%	$137K	$290K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4635	−0.176%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4632	−0.236%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4645	+0.049%	$610K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4640	−0.058%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4632	−0.239%	$57K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4639	−0.080%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4628	−0.317%	$176	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4643	+0.006%	$848K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4627	−0.338%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4627	−0.345%	$214K	$927K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4629	−0.284%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4631	−0.248%	—	—	20x	as long as short
Phoenix WLDlong	+0.0172%	1h	0.4643	long leg	$5K	$57K	10x
BloFin WLD-USDT	+0.0220%	8h	0.4631	−0.252%	$5.0M	$803K	75x	as long as short
Lighter WLD	+0.0224%	1h	0.4634	−0.179%	$5.0M	$2.3M	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4632	−0.236%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0475%	1h	0.4639	−0.075%	$51.6M	$42.9M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4635	−0.166%	$275K	$1.7M	50x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4616	−0.575%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0894%	1h	0.4631	−0.259%	$896K	$2.9M	50x	as long as short