Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h 0.000%

Price spread now: Phoenix against Variational Omni−0.203%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.203% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.203% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 13 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni WLD	0.4531	0.0001	pay 0.0001% / 8h	2h 11m	$2.1M	$1.6M	—
Short	Phoenix WLD	0.4522	0.0052	get 0.0006% / 1h	11m 20s	$5K	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now −0.203%Rate

Funding earned: $10.58
Price spread: −0.203% → 0.000%: −$20.29
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$16.71
Costs to cover: 0.070%
Break-even: 18.1 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phoenix: no order-book sample. 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 Variational Omni RFQ quote, 3 min ago	4.41 bp	doesn't fit	22.1 bp −$221	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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	−0.0489%	8h	0.4520	−0.249%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDC	−0.0018%	8h	0.4523	−0.183%	$27K	$916K	10x	as long as short
KuCoin WLDUSDTM	−0.0002%	8h	0.4519	−0.271%	$7.0M	$10.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4519	−0.273%	$154K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4524	−0.161%	$122K	$911K	25x	as long as short
Variational Omni WLDlong	+0.0001%	8h	0.4531	long leg	$2.1M	$1.6M	—
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4523	−0.172%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0036%	1h	0.4521	−0.216%	$270K	$168K	5x	as long as short
Phoenix WLDshort	+0.0052%	1h	0.4522	−0.203%	$5K	$52K	10x
OKX WLD-USDT-SWAP	+0.0084%	8h	0.4522	−0.205%	$33.8M	$137.7M	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	+0.0088%	8h	0.4523	−0.183%	$52.4M	$48.0M	300x	as long as short
Binance WLDUSDT	+0.0089%	8h	0.4524	−0.161%	$85.0M	$293.1M	75x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4526	−0.128%	$46.4M	$41.2M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4522	−0.195%	$214K	$975K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4520	−0.256%	$51K	$482K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4525	−0.139%	$64.5M	$80.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4522	−0.205%	$7.3M	$34.8M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4522	−0.205%	$30.0M	$25.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4522	−0.205%	—	$68.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4516	−0.342%	$128K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4531	−0.008%	$27K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4520	−0.258%	$606K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4533	+0.038%	$54K	$226K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4522	−0.207%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4528	−0.073%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4522	−0.205%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	−0.249%	$853K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4525	−0.139%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4521	−0.229%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4524	−0.161%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4521	−0.221%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0209%	8h	0.4528	−0.073%	$4.9M	$810K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0216% / S −0.1712%	1h	0.4524	−0.171%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0312%	1h	0.4526	−0.126%	$324	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4542	+0.236%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4522	−0.205%	$277K	$1.6M	50x	as long as short
Lighter WLD	+0.0952%	1h	0.4532	+0.018%	$5.1M	$2.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1102%	1h	0.4526	−0.125%	$921K	$2.6M	50x	as long as short