Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: Binance against Backpack−0.080%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.080%, 7d avg −0.021%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.059% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4735	0.0100	pay 0.0013% / 1h	11m 55s	$140K	$277K	10x
Short	Binance WLDUSDT	0.4731	0.0100	get 0.0100% / 8h	7h 11m	$90.5M	$310.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.021%: −$5.89
Slippage, 4 orders: −$12.22
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.11
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Backpack: live order book, 61 min ago; Binance: live order book, 2 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 Backpack live order book, 61 min ago	1.86 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.05 bp	8.0 bp −$8	16.2 bp −$162	52.9 bp −$5,290	189.5 bp −$94.7K

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	−0.0160%	8h	0.4749	+0.304%	$22K	$4.0M	1.7x	as long as short
Phemex WLDUSDT	−0.0059%	8h	0.4733	−0.034%	$1.9M	$3.7M	50x	as long as short
Nado WLD-PERP	−0.0029%	1h	0.4742	+0.156%	$275K	$178K	5x	as long as short
KuCoin WLDUSDTM	−0.0010%	8h	0.4730	−0.097%	$7.1M	$11.1M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4746	+0.245%	$169K	$12K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4738	+0.072%	$136K	$863K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4740	+0.113%	$56K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4744	+0.199%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0049%	8h	0.4737	+0.051%	$29K	$900K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4737	+0.053%	$211K	$983K	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	0.4748	+0.276%	$56K	$482K	5x	as long as short
Binance WLDUSDTshort	+0.0100%	8h	0.4731	−0.080%	$90.5M	$310.5M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4729	−0.118%	$68.5M	$83.5M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4728	−0.139%	$36.0M	$149.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4730	−0.097%	$7.6M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4732	−0.055%	$49.5M	$54.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4734	−0.013%	$31.7M	$27.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4732	−0.055%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4735	long leg	$140K	$277K	10x
Variational Omni WLD	+0.0100%	8h	0.4758	+0.489%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4762	+0.587%	$28K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4772	+0.784%	$630K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4768	+0.705%	$58K	$232K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4746	+0.230%	$49K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4745	+0.220%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4735	+0.008%	$232	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4741	+0.135%	$901K	$1.9M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4732	−0.056%	$219K	$894K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4738	+0.077%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4739	+0.088%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4760	+0.543%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4751	+0.346%	$5.0M	$883K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0240% / S −0.1538%	1h	0.4739	+0.096%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4744	+0.192%	$339	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0318%	1h	0.4739	+0.096%	$939K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4749	+0.304%	$278K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0876%	1h	0.4742	+0.150%	$53.2M	$44.0M	10x	as long as short
Lighter WLD	+0.1040%	1h	0.4747	+0.264%	$5.4M	$2.0M	10x	as long as short