Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0034%/8h= −3.7% APRnext payment −$0.04 per $10,000 · paid last 24h —

Price spread now: Backpack against Reya+0.044%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Backpack

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

The price spread pays, funding is against you. Backpack is 0.044% dearer against Reya than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLDRUSDPERP	0.4507	0.0134	pay 0.0017% / 1h	4m 42s	—	—	20x
Short	Backpack WLD_USDC_PERP	0.4509	0.0100	get 0.0013% / 1h	4m 42s	$128K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$7.11
Price spread: +0.044% → 0.000%: $4.42
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$18.69
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 19 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 19 min ago	0.44 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit

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
Kalshi KXWLDPERP	−0.0490%	8h	0.4507	+0.004%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDC	−0.0016%	8h	0.4509	+0.049%	$27K	$916K	10x	as long as short
KuCoin WLDUSDTM	−0.0005%	8h	0.4506	−0.018%	$6.9M	$10.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4510	+0.066%	$154K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4509	+0.049%	$122K	$911K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4508	+0.038%	$56K	—	150x	as long as short
Variational Omni WLD	+0.0018%	8h	0.4512	+0.122%	$2.1M	$1.7M	—	as long as short
Nado WLD-PERP	+0.0042%	1h	0.4511	+0.093%	$270K	$169K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4522	+0.328%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0091%	8h	0.4507	+0.004%	$33.7M	$137.4M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0097%	8h	0.4509	+0.049%	$50.5M	$48.5M	300x	as long as short
Binance WLDUSDT	+0.0099%	8h	0.4508	+0.019%	$84.6M	$293.1M	75x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4512	+0.111%	$46.4M	$41.3M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4509	+0.038%	$211K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4509	+0.049%	$51K	$481K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4507	+0.004%	$64.2M	$80.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4507	+0.004%	$7.3M	$34.9M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4506	−0.018%	$29.8M	$25.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4508	+0.026%	—	$68.1M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4509	+0.044%	$128K	$270K	10x
edgeX WLDUSDC	+0.0100%	4h	0.4522	+0.340%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4526	+0.419%	$607K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4524	+0.381%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4510	+0.060%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4516	+0.204%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4508	+0.026%	$200	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4507	+0.004%	$850K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4510	+0.071%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4507	−0.007%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4510	+0.060%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERPlong	+0.0134%	1h	0.4507	long leg	—	—	20x
BloFin WLD-USDT	+0.0218%	8h	0.4505	−0.040%	$4.8M	$806K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0236% / S −0.1948%	1h	0.4508	+0.036%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0304%	1h	0.4511	+0.097%	$323	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4542	+0.781%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4514	+0.160%	$277K	$1.6M	50x	as long as short
Lighter WLD	+0.0936%	1h	0.4518	+0.259%	$5.1M	$2.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1106%	1h	0.4511	+0.089%	$917K	$2.6M	50x	as long as short