Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h +0.029%

Price spread now: Bitget against Deribit−0.131%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 4 days (all we have)−0.370%−$37 · spread now −0.131%, 7d avg −0.085%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.045% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.085%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.146%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WLD_USDC-PERPETUAL	0.4594	0.0186	pay 0.0023% / 1h	54m 09s	$125K	$959K	25x
Short	Bitget WLDUSDT	0.4588	0.0100	get 0.0100% / 8h	3h 54m	$30.4M	$30.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$17.96
Price spread: −0.131% → −0.085%: −$4.54
Slippage, 4 orders: −$23.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$64.82
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Deribit: live order book, 65 min ago; Bitget: 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 Deribit live order book, 65 min ago	3.28 bp	13.3 bp −$13	22.4 bp −$224	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.09 bp	10.0 bp −$10	20.9 bp −$209	56.1 bp −$5,609	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	−0.0035%	1h	0.4595	+0.022%	$243K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4604	+0.211%	$157K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4604	+0.218%	$43K	$4.6M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4594	−0.003%	$67K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0016%	8h	0.4590	−0.087%	$6.9M	$11.7M	50x	as long as short
Polymarket Perps WLD-USD	+0.0053%	1h	0.4596	+0.050%	$40K	$2.2M	10x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4594	0.000%	$28K	$884K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4595	+0.020%	$213K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4602	+0.169%	$49K	$525K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4595	+0.031%	$87.2M	$329.4M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4592	−0.044%	$65.4M	$89.8M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4590	−0.087%	$34.5M	$151.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4591	−0.065%	$7.3M	$36.1M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4590	−0.087%	$43.4M	$54.2M	300x	as long as short
Bitget WLDUSDTshort	+0.0100%	8h	0.4588	−0.131%	$30.4M	$30.3M	75x
BingX WLD-USDC	+0.0100%	8h	0.4591	−0.065%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4592	−0.035%	$137K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4560	−0.747%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4568	−0.561%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4569	−0.544%	$604K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4566	−0.609%	$43K	$238K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4598	+0.087%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4591	−0.065%	$204	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4596	+0.044%	$840K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4591	−0.065%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4591	−0.071%	$221K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4593	−0.021%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4592	−0.038%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4564	−0.653%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4565	−0.625%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUALlong	+0.0186%	1h	0.4594	long leg	$125K	$959K	25x
BloFin WLD-USDT	+0.0220%	8h	0.4600	+0.131%	$4.9M	$834K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4594	+0.010%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0304%	1h	0.4606	+0.253%	$329	$80	5x	as long as short
Hyperliquid WLD	+0.0470%	1h	0.4598	+0.081%	$50.5M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0517%	1h	0.4594	−0.009%	$887K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4609	+0.327%	$271K	$1.7M	50x	as long as short
Lighter WLD	+0.0680%	1h	0.4599	+0.111%	$5.2M	$2.6M	10x	as long as short