Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.069%

Price spread now: OKX against Coinbase International−0.344%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 3 days (all we have)+0.283%+$28 · spread now −0.344%, 7d avg −0.095%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and OKX is 0.249% cheaper against Coinbase International than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.095%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.114% in total (about -5.9% 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	Coinbase International WLD-PERP-INTX	0.4657	0.0480	pay 0.0060% / 1h	53m 45s	$276K	$1.7M	50x
Short	OKX WLD-USDT-SWAP	0.4641	0.0100	get 0.0100% / 8h	5h 53m	$35.1M	$149.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now −0.344%Rate

Funding earned: −$79.8
Price spread: −0.344% → −0.095%: −$24.9
Slippage, 4 orders: −$37.67
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$162.38
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; OKX: 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 Coinbase International live order book, 5 min ago	6.44 bp	21.2 bp −$21	27.1 bp −$271	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.07 bp	9.5 bp −$9	20.9 bp −$209	175.0 bp −$17.5K	doesn't fit

WLD on 37 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
ApeX Omni WLDUSDT	−0.1098%	1h	0.4631	−0.558%	$51K	$236K	50x	as long as short
Kalshi KXWLDPERP	−0.0139%	8h	0.4646	−0.236%	$61K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0036%	8h	0.4638	−0.408%	$7.1M	$11.5M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4645	−0.255%	$165K	$26K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4643	−0.303%	$56K	—	150x	as long as short
Phoenix WLD	+0.0068%	1h	0.4648	−0.193%	$5K	$57K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0068%	8h	0.4649	−0.172%	$28K	$895K	10x	as long as short
Nado WLD-PERP	+0.0082%	1h	0.4645	−0.258%	$270K	$187K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4642	−0.317%	$179K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4646	−0.235%	$51K	$510K	5x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4644	−0.283%	$88.4M	$323.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4642	−0.322%	$66.4M	$87.2M	50x	as long as short
OKX WLD-USDT-SWAPshort	+0.0100%	8h	0.4641	−0.344%	$35.1M	$149.1M	50x
Gate WLD_USDT	+0.0100%	8h	0.4643	−0.301%	$7.3M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4643	−0.301%	$45.6M	$54.0M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4640	−0.365%	$30.8M	$29.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4643	−0.301%	—	$67.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4639	−0.380%	$136K	$285K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4684	+0.574%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4637	−0.427%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4654	−0.055%	$615K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4647	−0.223%	$63K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4655	−0.043%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4648	−0.193%	$293	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4641	−0.344%	$848K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4640	−0.365%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4640	−0.357%	$214K	$887K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4649	−0.178%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4644	−0.275%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0180%	1h	0.4649	−0.172%	$120K	$923K	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4643	−0.300%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4652	−0.112%	$333	$80	5x	as long as short
Coinbase International WLD-PERP-INTXlong	+0.0480%	1h	0.4657	long leg	$276K	$1.7M	50x
Hyperliquid WLD	+0.0536%	1h	0.4647	−0.208%	$51.7M	$42.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0677%	1h	0.4650	−0.150%	$6K	$185K	5.5x	as long as short
Lighter WLD	+0.0840%	1h	0.4651	−0.140%	$5.2M	$2.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0891%	1h	0.4649	−0.170%	$903K	$2.9M	50x	as long as short