Funding you earn now, next payment 08:00 UTC+0.0340%/8h= +37.2% APRnext payment +$0.43 per $10,000 · paid last 24h +0.081%
Price spread now: Coinbase International against Backpack+0.528%7-day average +0.042% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$5as in the Price arb table
costs, in and out, $10k−$540.537% of the position
Funding, last 7 days+0.066%+$7 on $10k
+Price spread, last 4 days (all we have)−0.530%−$53 · spread now +0.528%, 7d avg +0.042%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.485% dearer against Backpack than usual: you sell high and buy low: +$49 more if the spread goes back to its 7-day average of +0.042%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.066% in total (about 3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. 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 | Backpack WLD_USDC_PERP | 0.4509 | 0.0100 | pay 0.0013% / 1h | 55m 47s | $131K | $298K | 10x |
| Short | Coinbase International WLD-PERP-INTX | 0.4533 | 0.0440 | get 0.0055% / 1h | 55m 47s | $269K | $1.6M | 50x |
Backpack WLD_USDC_PERP
Coinbase International WLD-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $71.4
- Price spread: +0.528% → +0.042%
- $48.55
- Slippage, 4 orders
- −$33.66
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $66.29
- Costs to cover
- 0.537%
- Break-even
- 0.5 days
Slippage from Backpack: live order book, 43 min ago; Coinbase International: live order book, 3 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, 43 min ago | 0.44 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 7.73 bp | 12.7 bp −$13 | 18.2 bp −$182 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX WLD-USD | 0.0000% | 1h | 0.4526 | +0.369% | $154K | $32K | 10x | as long as short |
| Kalshi KXWLDPERP | 0.0000% | 8h | 0.4519 | +0.217% | $40K | $4.6M | 1.7x | as long as short |
| Deribit WLD_USDC-PERPETUAL | 0.0000% | 1h | 0.4514 | +0.106% | $119K | $1.0M | 25x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4514 | +0.104% | $65K | — | 150x | as long as short |
| Nado WLD-PERP | +0.0022% | 1h | 0.4512 | +0.073% | $234K | $175K | 5x | as long as short |
| Orderly PERP_WLD_USDC | +0.0099% | 8h | 0.4514 | +0.106% | $27K | $631K | 10x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4508 | −0.032% | $227K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4525 | +0.355% | $54K | $543K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4503 | −0.126% | $86.4M | $333.5M | 75x | as long as short |
| Bybit WLDUSDT | +0.0100% | 8h | 0.4501 | −0.182% | $63.7M | $89.4M | 50x | as long as short |
dYdX WLD-USD
Kalshi KXWLDPERP
Deribit WLD_USDC-PERPETUAL
gTrade (Gains Network) WLD/USD
Nado WLD-PERP
Orderly PERP_WLD_USDC
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
Bybit WLDUSDTShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4502 | −0.160% | $34.1M | $149.6M | 50x | as long as short |
| Gate WLD_USDT | +0.0100% | 8h | 0.4503 | −0.137% | $7.1M | $34.5M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4503 | −0.137% | $41.7M | $55.5M | 300x | as long as short |
| KuCoin WLDUSDTM | +0.0100% | 8h | 0.4505 | −0.093% | $6.6M | $11.6M | 50x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4502 | −0.160% | $29.7M | $31.0M | 75x | as long as short |
| BingX WLD-USDT | +0.0100% | 8h | 0.4503 | −0.137% | — | $20.1M | — | as long as short |
| Backpack WLD_USDC_PERPlong | +0.0100% | 1h | 0.4509 | long leg | $131K | $298K | 10x | |
| Variational Omni WLD | +0.0100% | 8h | 0.4509 | −0.010% | $2.1M | $1.5M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4520 | +0.235% | $27K | $322K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4528 | +0.409% | $601K | $2.1M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4521 | +0.262% | $48K | $238K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4517 | +0.166% | $49K | $2.7M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4521 | +0.262% | $23K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4512 | +0.062% | $217 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4520 | +0.240% | $827K | $1.5M | 50x | as long as short |
| Phemex WLDUSDT | +0.0100% | 8h | 0.4512 | +0.062% | $1.7M | $3.6M | 50x | as long as short |
| Extended WLD-USD | +0.0104% | 1h | 0.4498 | −0.242% | $208K | $878K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4515 | +0.129% | $31K | $500 | 3x | as long as short |
| Injective WLD/USDC PERP | +0.0109% | 1h | 0.4508 | −0.027% | $6K | $185K | 5.5x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4511 | +0.046% | — | — | 20x | as long as short |
| Phoenix WLD | +0.0177% | 1h | 0.4530 | +0.455% | $4K | $44K | 10x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0219% / S −0.0967% | 1h | 0.4513 | +0.082% | $4K | — | 100x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4534 | +0.550% | $4.4M | $900K | 75x | as long as short |
| 01 Exchange WLDUSD | +0.0256% | 1h | 0.4519 | +0.211% | $323 | $55 | 5x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0303% | 1h | 0.4515 | +0.132% | $868K | $2.8M | 50x | as long as short |
| Lighter WLD | +0.0344% | 1h | 0.4515 | +0.129% | $4.9M | $2.9M | 10x | as long as short |
| Hyperliquid WLD | +0.0353% | 1h | 0.4509 | −0.002% | $50.1M | $43.0M | 10x | as long as short |
| Coinbase International WLD-PERP-INTXshort | +0.0440% | 1h | 0.4533 | +0.528% | $269K | $1.6M | 50x |
OKX WLD-USDT-SWAP
Gate WLD_USDT
MEXC WLD_USDT
KuCoin WLDUSDTM
Bitget WLDUSDT
BingX WLD-USDT
Variational Omni WLD
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Phemex WLDUSDT
Extended WLD-USD
Aevo WLD-PERP
Injective WLD/USDC PERP
Reya WLDRUSDPERP
Phoenix WLD
GMX WLD/USD [ETH-USDC]
BloFin WLD-USDT
01 Exchange WLDUSD
Kraken Futures PF_WLDUSD
Lighter WLD
Hyperliquid WLD