Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0294%/8h= −32.2% APRpaid last 24h −0.065%

Price spread now: Kalshi against Backpack−0.077%7-day average −0.181% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on Backpack Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 on $10k

Price spread, last 4 days (all we have)−0.722%−$72 · spread now −0.077%, 7d avg −0.181%

Together, before fees−1.010%−$101 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.105% dearer against Backpack than usual: you sell high and buy low (spread −0.077% now, against its 7-day average of −0.181%): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 7 days (−0.288% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4568	0.0100	pay 0.0013% / 1h	23m 04s	$129K	$272K	10x
Short	Kalshi KXWLDPERP	0.4565	−0.0194	pay 0.0194% / 8h	4h 23m	$64K	$3.9M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.077%Rate

Funding earned: −$61.67
Price spread: −0.077% → −0.181%: $10.46
Slippage, 4 orders: −$19.54
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$90.75
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Backpack: live order book, 55 min ago; Kalshi: live order book, 5 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, 55 min ago	0.33 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.18 bp	13.5 bp −$13	21.0 bp −$210	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
Kalshi KXWLDPERPshort	−0.0194%	8h	0.4565	−0.077%	$64K	$3.9M	1.7x
dYdX WLD-USD	0.0000%	1h	0.4566	−0.059%	$163K	$13K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4565	−0.073%	$56K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0011%	8h	0.4563	−0.120%	$6.9M	$11.0M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0031%	8h	0.4566	−0.055%	$28K	$907K	10x	as long as short
Nado WLD-PERP	+0.0043%	1h	0.4565	−0.077%	$275K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4567	−0.043%	$191K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4564	−0.099%	$53K	$483K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4566	−0.050%	$86.1M	$301.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4568	−0.011%	$65.5M	$82.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4566	−0.055%	$34.1M	$142.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4565	−0.077%	$7.4M	$35.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4566	−0.055%	$45.3M	$53.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4566	−0.055%	$30.1M	$25.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4566	−0.055%	—	$67.1M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4568	long leg	$129K	$272K	10x
Variational Omni WLD	+0.0100%	8h	0.4574	+0.120%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4563	−0.125%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4586	+0.390%	$618K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4562	−0.142%	$55K	$228K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4567	−0.039%	$45K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4566	−0.055%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4568	−0.011%	$210	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4571	+0.055%	$849K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4569	+0.011%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4565	−0.084%	$233K	$845K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4568	−0.015%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0104%	1h	0.4570	+0.028%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4563	−0.124%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0188%	1h	0.4569	+0.011%	$113K	$886K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4569	+0.011%	$4.9M	$823K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4566	−0.060%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0264%	1h	0.4565	−0.072%	$327	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0373%	1h	0.4592	+0.514%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0440%	1h	0.4571	+0.055%	$269K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0467%	1h	0.4573	+0.092%	$49.5M	$43.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0719%	1h	0.4571	+0.045%	$901K	$2.7M	50x	as long as short
Lighter WLD	+0.1400%	1h	0.4578	+0.215%	$5.2M	$2.0M	10x	as long as short