Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.022%

Price spread now: Phoenix against Bitget+0.397%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.397% dearer against Bitget than usual: you sell high and buy low: +$40 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.088%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WLDUSDT	0.4559	0.0100	pay 0.0100% / 8h	1h 31m	$30.1M	$25.5M	75x
Short	Phoenix WLD	0.4577	0.0124	get 0.0015% / 1h	31m 03s	$5K	$53K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now +0.397%Rate

Funding earned: $5.03
Price spread: +0.397% → 0.000%: $39.7
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $25.73
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Bitget: live order book, 3 min ago; Phoenix: no order-book sample. 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 Bitget live order book, 3 min ago	1.09 bp	12.2 bp −$12	24.0 bp −$240	71.9 bp −$7,186	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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.

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	−0.0351%	8h	0.4563	+0.088%	$62K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4623	+1.404%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	−0.0003%	8h	0.4560	+0.022%	$28K	$913K	10x	as long as short
KuCoin WLDUSDTM	−0.0002%	8h	0.4558	−0.022%	$7.0M	$10.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4564	+0.119%	$163K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4561	+0.044%	$107K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4563	+0.095%	$57K	—	150x	as long as short
Variational Omni WLD	+0.0056%	8h	0.4588	+0.635%	$2.1M	$1.6M	—	as long as short
Nado WLD-PERP	+0.0062%	1h	0.4561	+0.055%	$275K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4562	+0.064%	$202K	$988K	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	0.4563	+0.096%	$51K	$480K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4559	+0.004%	$86.4M	$297.1M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4559	0.000%	$65.3M	$81.8M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4558	−0.022%	$34.1M	$140.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4559	0.000%	$7.4M	$35.2M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4562	+0.066%	$48.1M	$51.6M	300x	as long as short
Bitget WLDUSDTlong	+0.0100%	8h	0.4559	long leg	$30.1M	$25.5M	75x
BingX WLD-USDT	+0.0100%	8h	0.4561	+0.044%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4562	+0.057%	$127K	$269K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4577	+0.397%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4582	+0.504%	$625K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4574	+0.329%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4564	+0.105%	$47K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4567	+0.175%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4561	+0.044%	$199	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4558	−0.022%	$860K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4562	+0.066%	$1.8M	$3.8M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4559	−0.006%	$239K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4561	+0.038%	$31K	$5K	3x	as long as short
Phoenix WLDshort	+0.0124%	1h	0.4577	+0.397%	$5K	$53K	10x
Reya WLDRUSDPERP	+0.0134%	1h	0.4561	+0.042%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0187%	1h	0.4565	+0.127%	$905K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4558	−0.022%	$4.9M	$810K	75x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4566	+0.154%	$327	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4561	+0.052%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4567	+0.175%	$268K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0909%	1h	0.4565	+0.132%	$49.6M	$43.1M	10x	as long as short
Lighter WLD	+0.0928%	1h	0.4572	+0.281%	$5.2M	$2.1M	10x	as long as short