Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.006%

Price spread now: tradeXYZ against Orderly−0.032%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and tradeXYZ is 0.032% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WDC_USDC_mythos	443.16	0.0100	pay 0.0100% / 8h	30m 46s	$9K	$2K	10x
Short	tradeXYZ xyz:WDC	443.02	0.0050	get 0.0006% / 1h	30m 46s	$2.3M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Orderly. 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 OrderlybpFee tradeXYZbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$10.5
Price spread: −0.032% → 0.000%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$37.66
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; tradeXYZ: live order book, 7 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 Orderly no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 7 min ago	1.24 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit

Orderly: 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.

WDC on 17 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
Bitget WDCUSDT	−0.0423%	8h	443.35	+0.043%	$1.1M	$1.1M	20x	as long as short
Aster WDCUSDT	0.0000%	8h	443.10	−0.014%	$10K	$136K	20x	as long as short
Extended WDC-USD	0.0000%	1h	443.16	0.000%	$5K	$189K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	443.20	+0.009%	$7.3M	$25.4M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	443.27	+0.025%	$1.9M	$709K	25x	as long as short
Gate WDC_USDT	0.0000%	8h	443.30	+0.032%	$1.9M	$2.5M	50x	as long as short
OKX WDC-USDT-SWAP	+0.0005%	8h	443.30	+0.032%	$2.0M	$4.3M	20x	as long as short
BloFin WDC-USDT	+0.0008%	8h	443.35	+0.043%	$140K	$94K	20x	as long as short
edgeX WDCUSDC	+0.0021%	4h	443.31	+0.035%	$49K	$230K	10x	as long as short
GRVT WDC_USDT_Perp	+0.0027%	8h	443.44	+0.063%	$519	$146K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WDC	+0.0032%	1h	442.82	−0.077%	—	—	10x	as long as short
tradeXYZ xyz:WDCshort	+0.0050%	1h	443.02	−0.032%	$2.3M	$2.1M	10x
QFEX WDC-USD	+0.0059%	1h	443.26	+0.023%	$1.1M	$3.0M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	443.01	−0.034%	$272K	$46K	20x	as long as short
Orderly PERP_WDC_USDC_mythoslong	+0.0100%	8h	443.16	long leg	$9K	$2K	10x
SunX WDC-USDT	+0.0100%	8h	443.30	+0.032%	—	$2.4M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	443.60	+0.099%	$33K	$8K	10x	as long as short