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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Pacifica against Backpack−0.202%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)+0.333%+$33 · spread now −0.202%, 7d avg +0.011%

Together, before fees+0.367%+ Points / potential airdropPacifica: Active · farm board+$37 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: Pacifica is 0.213% cheaper against Backpack than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLD_USDC_PERP	0.4762	0.0100	pay 0.0013% / 1h	13m 40s	$141K	$277K	10x
Short	Pacifica WLD	0.4752	0.0100	get 0.0013% / 1h	13m 40s	$56K	$482K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.202%Rate

Funding earned: $0
Price spread: −0.202% → +0.011%: −$21.27
Slippage, 4 orders: −$23.58
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$62.85
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Backpack: live order book, 60 min ago; Pacifica: live order book, 60 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, 60 min ago	1.86 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 60 min ago	4.36 bp	11.3 bp −$11	doesn't fit	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
Phemex WLDUSDT	−0.0188%	8h	0.4764	+0.044%	$1.9M	$3.7M	50x	as long as short
Kalshi KXWLDPERP	−0.0162%	8h	0.4763	+0.023%	$30K	$4.0M	1.7x	as long as short
Nado WLD-PERP	−0.0032%	1h	0.4762	+0.002%	$276K	$178K	5x	as long as short
KuCoin WLDUSDTM	−0.0011%	8h	0.4748	−0.292%	$7.1M	$11.1M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4750	−0.259%	$169K	$12K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4766	+0.086%	$137K	$863K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4767	+0.106%	$57K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4744	−0.376%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0049%	8h	0.4764	+0.044%	$29K	$901K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4752	−0.206%	$212K	$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 WLDshort	+0.0100%	1h	0.4752	−0.202%	$56K	$482K	5x
Binance WLDUSDT	+0.0100%	8h	0.4750	−0.250%	$90.9M	$310.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4749	−0.271%	$68.8M	$83.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4749	−0.271%	$36.2M	$150.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4748	−0.292%	$7.6M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4750	−0.250%	$49.8M	$54.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4750	−0.250%	$31.9M	$27.2M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4751	−0.229%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPlong	+0.0100%	1h	0.4762	long leg	$141K	$277K	10x
Variational Omni WLD	+0.0100%	8h	0.4758	−0.087%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4742	−0.408%	$28K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4751	−0.229%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4743	−0.397%	$57K	$232K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4769	+0.158%	$47K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4772	+0.212%	$24K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4764	+0.044%	$235	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4767	+0.107%	$884K	$1.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4748	−0.282%	$219K	$894K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4764	+0.044%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4766	+0.081%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4760	−0.034%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4768	+0.128%	$5.0M	$885K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0240% / S −0.1538%	1h	0.4767	+0.107%	$7K	—	100x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4774	+0.260%	$342	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0316%	1h	0.4766	+0.080%	$944K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4771	+0.191%	$279K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0882%	1h	0.4762	−0.004%	$53.4M	$44.0M	10x	as long as short
Lighter WLD	+0.1032%	1h	0.4762	0.000%	$5.4M	$2.0M	10x	as long as short