Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.002%

Price spread now: Phoenix against Bybit+0.199%55s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 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 0.199% dearer against Bybit than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WLDUSDT	0.4574	0.0100	pay 0.0100% / 8h	1h 18m	$65.5M	$82.0M	50x
Short	Phoenix WLD	0.4583	0.0124	get 0.0015% / 1h	18m 27s	$5K	$53K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.199%Rate

Funding earned: $5.03
Price spread: +0.199% → 0.000%: $19.9
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $6.92
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bybit: live order book, 6 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 Bybit live order book, 6 min ago	1.09 bp	7.8 bp −$8	16.9 bp −$169	105.5 bp −$10.5K	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	−0.0315%	8h	0.4579	+0.109%	$61K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4623	+1.071%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4576	+0.052%	$163K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4577	+0.066%	$108K	$900K	25x	as long as short
Orderly PERP_WLD_USDC	+0.0003%	8h	0.4576	+0.044%	$28K	$913K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4575	+0.015%	$57K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0006%	8h	0.4572	−0.044%	$7.0M	$10.8M	50x	as long as short
Nado WLD-PERP	+0.0052%	1h	0.4573	−0.011%	$275K	$169K	5x	as long as short
Variational Omni WLD	+0.0084%	8h	0.4578	+0.086%	$2.1M	$1.6M	—	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4577	+0.061%	$200K	$998K	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	0.4575	+0.030%	$53K	$481K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4574	0.000%	$86.5M	$297.3M	75x	as long as short
Bybit WLDUSDTlong	+0.0100%	8h	0.4574	long leg	$65.5M	$82.0M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4574	0.000%	$34.2M	$141.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4573	−0.022%	$7.4M	$35.3M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4574	0.000%	$49.0M	$52.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4572	−0.044%	$30.1M	$25.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4575	+0.022%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4577	+0.055%	$129K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4580	+0.140%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4580	+0.129%	$615K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.131%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4576	+0.048%	$47K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4583	+0.197%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4575	+0.022%	$199	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4578	+0.087%	$864K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4574	0.000%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4572	−0.041%	$240K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4577	+0.055%	$31K	$5K	3x	as long as short
Phoenix WLDshort	+0.0124%	1h	0.4583	+0.199%	$5K	$53K	10x
Reya WLDRUSDPERP	+0.0134%	1h	0.4573	−0.024%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0186%	1h	0.4581	+0.143%	$907K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4574	0.000%	$4.9M	$813K	75x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4575	+0.022%	$327	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4578	+0.086%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4586	+0.262%	$270K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0747%	1h	0.4580	+0.120%	$49.8M	$43.1M	10x	as long as short
Lighter WLD	+0.0968%	1h	0.4586	+0.251%	$5.2M	$2.1M	10x	as long as short