Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: dYdX against SunX−0.085%7-day average −0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$207as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1871.870% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)−0.364%−$36 · spread now −0.085%, 7d avg −0.123%

Together, before fees−0.565%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.037% dearer against SunX than usual: you sell high and buy low (spread −0.085% now, against its 7-day average of −0.123%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WLD-USDT	0.4580	0.0100	pay 0.0100% / 8h	4h 15m	$23K	$1.6M	50x
Short	dYdX WLD-USD	0.4576	0	get 0.0000% / 1h	15m 13s	$156K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$21
Price spread: −0.085% → −0.123%: $3.71
Slippage, 4 orders: −$169.04
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$204.33
Costs to cover: 1.870%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; dYdX: live order book, 44 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	29.39 bp	39.3 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 44 min ago	38.30 bp	43.3 bp −$43	43.3 bp −$433	142.6 bp −$14.3K	515.1 bp −$257.5K

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
Nado WLD-PERP	−0.0044%	1h	0.4576	−0.087%	$242K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0007%	8h	0.4574	−0.131%	$6.9M	$11.7M	50x	as long as short
dYdX WLD-USDshort	0.0000%	1h	0.4576	−0.085%	$156K	$33K	10x
Kalshi KXWLDPERP	0.0000%	8h	0.4576	−0.087%	$46K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4578	−0.044%	$118K	$942K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4578	−0.048%	$66K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4583	+0.066%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0095%	8h	0.4576	−0.087%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4580	0.000%	$4.9M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4578	−0.041%	$211K	$1.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4577	−0.066%	$49K	$527K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4575	−0.110%	$86.7M	$328.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4573	−0.153%	$65.0M	$89.3M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4573	−0.153%	$34.3M	$149.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4577	−0.066%	$7.2M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4576	−0.087%	$44.0M	$54.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4574	−0.131%	$30.2M	$30.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4577	−0.066%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4578	−0.035%	$136K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4578	−0.050%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4580	0.000%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4587	+0.153%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4584	+0.087%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4576	−0.081%	$39K	$2.1M	10x	as long as short
SunX WLD-USDTlong	+0.0100%	8h	0.4580	long leg	$23K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4574	−0.131%	$174	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4574	−0.131%	$836K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4578	−0.044%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4574	−0.125%	$220K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4578	−0.050%	$31K	$600	3x	as long as short
01 Exchange WLDUSD	+0.0128%	1h	0.4580	+0.007%	$328	$80	5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4572	−0.180%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4586	+0.140%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4577	−0.066%	$4.9M	$831K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4577	−0.057%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0326%	1h	0.4585	+0.103%	$50.3M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0479%	1h	0.4578	−0.038%	$884K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4593	+0.284%	$269K	$1.7M	50x	as long as short