Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h +0.053%

Price spread now: Coinbase International against SunX−0.021%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1271.274% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 3 days (all we have)−0.254%−$25 · spread now −0.021%, 7d avg −0.087%

Together, before fees−0.244%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 0.066% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.087%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.010% in total (about 0.5% a year). A funding rate is set anew for every payment. 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	SunX WLD-USDT	0.4683	0.0100	pay 0.0100% / 8h	6h 44m	$23K	$1.6M	50x
Short	Coinbase International WLD-PERP-INTX	0.4682	0.0456	get 0.0057% / 1h	44m 39s	$277K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.021%Rate

Funding earned: $74.76
Price spread: −0.021% → −0.087%: $6.58
Slippage, 4 orders: −$109.41
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$46.07
Costs to cover: 1.274%
Break-even: 11.3 days

Slippage from SunX: live order book, 10 min ago; Coinbase International: live order book, 4 min ago.

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 SunX live order book, 10 min ago	29.99 bp	38.8 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	6.39 bp	17.1 bp −$17	22.0 bp −$220	doesn't fit	doesn't fit

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	−0.171%	$6K	$185K	5.5x	as long as short
Kalshi KXWLDPERP	−0.0153%	8h	0.4673	−0.214%	$28K	$4.2M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0036%	8h	0.4666	−0.363%	$7.0M	$11.4M	50x	as long as short
Nado WLD-PERP	−0.0006%	1h	0.4673	−0.208%	$271K	$178K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4665	−0.383%	$159K	$19K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4677	−0.128%	$132K	$909K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4678	−0.111%	$67K	—	150x	as long as short
ApeX Omni WLDUSDT	+0.0029%	1h	0.4699	+0.342%	$51K	$241K	50x	as long as short
Orderly PERP_WLD_USDC	+0.0054%	8h	0.4677	−0.128%	$28K	$898K	10x	as long as short
Phoenix WLD	+0.0068%	1h	0.4686	+0.062%	$5K	$54K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4677	−0.121%	$179K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4667	−0.340%	$56K	$493K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4669	−0.294%	$89.2M	$320.0M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4661	−0.470%	$67.1M	$86.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4666	−0.363%	$35.3M	$151.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4660	−0.491%	$7.4M	$36.8M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4668	−0.320%	$47.6M	$54.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4660	−0.491%	$31.1M	$28.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4663	−0.427%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4681	−0.041%	$142K	$287K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4677	−0.133%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4700	+0.354%	$28K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4719	+0.769%	$625K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4680	−0.058%	$64K	$1.9M	10x	as long as short
SunX WLD-USDTlong	+0.0100%	8h	0.4683	long leg	$23K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4677	−0.128%	$224	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4682	−0.021%	$886K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4677	−0.128%	$1.9M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4680	−0.058%	$215K	$876K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4677	−0.136%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4674	−0.197%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4719	+0.769%	$5.0M	$878K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0239% / S −0.1538%	1h	0.4677	−0.117%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0320%	1h	0.4683	+0.002%	$335	$77	5x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0456%	1h	0.4682	−0.021%	$277K	$1.7M	50x
Kraken Futures PF_WLDUSD	+0.0639%	1h	0.4680	−0.055%	$929K	$2.8M	50x	as long as short
Hyperliquid WLD	+0.0698%	1h	0.4668	−0.327%	$52.2M	$44.5M	10x	as long as short
Lighter WLD	+0.0872%	1h	0.4674	−0.186%	$5.3M	$2.1M	10x	as long as short