Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0436%/8h= +47.7% APRpaid last 24h +0.096%

Price spread now: Coinbase International against Bybit+0.379%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$610.605% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 4 days (all we have)−0.323%−$32 · spread now +0.379%, 7d avg +0.083%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Coinbase International is 0.296% dearer against Bybit than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.083%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.141% in total (about 7.4% a year). A funding rate is set anew for every payment. 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	Bybit WLDUSDT	0.4489	0.0100	pay 0.0100% / 8h	2h 31m	$63.9M	$92.0M	50x
Short	Coinbase International WLD-PERP-INTX	0.4506	0.0536	get 0.0067% / 1h	31m 26s	$274K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.379%Rate

Funding earned: $91.56
Price spread: +0.379% → +0.083%: $29.58
Slippage, 4 orders: −$39.53
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $60.61
Costs to cover: 0.605%
Break-even: 2.4 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: 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 Bybit live order book, 3 min ago	1.12 bp	9.1 bp −$9	19.1 bp −$191	135.5 bp −$13.5K	doesn't fit
Sell Coinbase International live order book, 2 min ago	5.57 bp	14.9 bp −$15	18.1 bp −$181	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
Nado WLD-PERP	−0.0052%	1h	0.4491	+0.056%	$241K	$208K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4489	−0.005%	$153K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4493	+0.089%	$69K	$4.9M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4492	+0.067%	$143K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4493	+0.086%	$65K	—	150x	as long as short
Polymarket Perps WLD-USD	+0.0040%	1h	0.4488	−0.016%	$39K	$2.4M	10x	as long as short
KuCoin WLDUSDTM	+0.0046%	8h	0.4486	−0.067%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0064%	1h	0.4492	+0.074%	$321	$55	5x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4491	+0.045%	$28K	$821K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4494	+0.111%	$224K	$1.1M	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	0.4490	+0.024%	$50K	$541K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4492	+0.067%	$85.5M	$339.2M	75x	as long as short
Bybit WLDUSDTlong	+0.0100%	8h	0.4489	long leg	$63.9M	$92.0M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4489	0.000%	$33.8M	$153.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4491	+0.045%	$7.3M	$37.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4490	+0.022%	$38.6M	$55.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4489	0.000%	$29.5M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4491	+0.045%	—	$68.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4493	+0.098%	$133K	$305K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4509	+0.441%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4489	+0.005%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4497	+0.172%	$597K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4488	−0.022%	$48K	$241K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4496	+0.156%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4490	+0.022%	$209	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4492	+0.067%	$822K	$1.7M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4492	+0.067%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4489	−0.005%	$220K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4491	+0.041%	$30K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4489	−0.004%	—	—	20x	as long as short
Lighter WLD	+0.0136%	1h	0.4494	+0.120%	$4.9M	$2.9M	10x	as long as short
Phoenix WLD	+0.0142%	1h	0.4509	+0.443%	$5K	$52K	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	+0.535%	$6K	$185K	5.5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4492	+0.068%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4494	+0.111%	$4.8M	$924K	75x	as long as short
Hyperliquid WLD	+0.0298%	1h	0.4496	+0.145%	$48.6M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0504%	1h	0.4492	+0.075%	$857K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0536%	1h	0.4506	+0.379%	$274K	$1.7M	50x