Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0409%/8h= −44.8% APRpaid last 24h +0.028%

Price spread now: Injective against SunX+0.846%61s7-day average +0.080% · you sell dearer than you buy

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)−0.820%−$82 · spread now +0.846%, 7d avg +0.080%

Together, before fees−0.888%−$89 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.766% dearer against SunX than usual: you sell high and buy low (spread +0.846% now, against its 7-day average of +0.080%): +$77 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 7 days (−0.068% in total) that is about 3 months. The two prices were read 61 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 -0.068% in total (about -3.5% 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	0.4493	0.0100	pay 0.0100% / 8h	20m 04s	$22K	$1.6M	50x
Short	Injective WLD/USDC PERP	0.4531	−0.0309	pay 0.0039% / 1h	20m 04s	$6K	$185K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +0.846%Rate

Funding earned: −$85.99
Price spread: +0.846% → +0.080%: $76.58
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$17.43
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 5 min ago; Injective: live order book, 49 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 SunX live order book, 5 min ago	28.93 bp	39.0 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 49 min ago	56.62 bp	doesn't fit	doesn't fit	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 PERPshort	−0.0309%	1h	0.4531	+0.846%	$6K	$185K	5.5x
Nado WLD-PERP	−0.0030%	1h	0.4486	−0.167%	$234K	$175K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4485	−0.186%	$153K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4484	−0.200%	$64K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4490	−0.067%	$135K	$986K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4495	+0.041%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4488	−0.111%	$27K	$688K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4496	+0.058%	$227K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4486	−0.145%	$53K	$542K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4496	+0.073%	$86.1M	$334.4M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4497	+0.089%	$63.6M	$89.9M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4500	+0.156%	$33.9M	$150.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4493	0.000%	$7.0M	$35.9M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4496	+0.067%	$40.9M	$56.8M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4488	−0.111%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4501	+0.178%	$29.8M	$31.0M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4495	+0.045%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4497	+0.091%	$131K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4481	−0.273%	$2.0M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4485	−0.173%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4488	−0.111%	$597K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4490	−0.067%	$48K	$238K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4488	−0.114%	$49K	$2.7M	10x	as long as short
SunX WLD-USDTlong	+0.0100%	8h	0.4493	long leg	$22K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4490	−0.067%	$222	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4479	−0.312%	$819K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4491	−0.045%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4499	+0.129%	$207K	$880K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4490	−0.067%	$30K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4486	−0.161%	—	—	20x	as long as short
Lighter WLD	+0.0144%	1h	0.4496	+0.073%	$4.9M	$2.9M	10x	as long as short
Phoenix WLD	+0.0177%	1h	0.4491	−0.038%	$4K	$43K	10x	as long as short
01 Exchange WLDUSD	+0.0208%	1h	0.4490	−0.058%	$321	$55	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4494	+0.026%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4483	−0.223%	$4.8M	$904K	75x	as long as short
Hyperliquid WLD	+0.0388%	1h	0.4502	+0.198%	$50.0M	$43.2M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4493	0.000%	$268K	$1.6M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0460%	1h	0.4493	−0.004%	$860K	$2.8M	50x	as long as short