Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h +0.015%

Price spread now: Orderly against Deribit−0.066%7-day average −0.032% · you buy dearer than you sell

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

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.066%, 7d avg −0.032%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Orderly is 0.035% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WLD_USDC-PERPETUAL	0.4515	0	get 0.0000% / 1h	4m 08s	$122K	$911K	25x
Short	Orderly PERP_WLD_USDC	0.4512	−0.0016	pay 0.0016% / 8h	2h 04m	$27K	$916K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.066%Rate

Funding earned: −$3.35
Price spread: −0.066% → −0.032%: −$3.46
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$19.81
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 20 min ago; Orderly: 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 Deribit live order book, 20 min ago	2.19 bp	5.7 bp −$6	13.9 bp −$139	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0490%	8h	0.4510	−0.111%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDCshort	−0.0016%	8h	0.4512	−0.066%	$27K	$916K	10x
KuCoin WLDUSDTM	−0.0005%	8h	0.4510	−0.111%	$7.0M	$10.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4510	−0.116%	$154K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUALlong	0.0000%	1h	0.4515	long leg	$122K	$911K	25x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4512	−0.055%	$56K	—	150x	as long as short
Variational Omni WLD	+0.0018%	8h	0.4512	−0.060%	$2.1M	$1.7M	—	as long as short
Nado WLD-PERP	+0.0043%	1h	0.4507	−0.177%	$270K	$169K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4522	+0.146%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0091%	8h	0.4515	0.000%	$33.7M	$137.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0097%	8h	0.4513	−0.044%	$49.8M	$48.6M	300x	as long as short
Binance WLDUSDT	+0.0099%	8h	0.4514	−0.029%	$84.7M	$293.1M	75x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4519	+0.089%	$46.4M	$41.3M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4512	−0.069%	$211K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4509	−0.133%	$51K	$481K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4514	−0.022%	$64.3M	$80.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4513	−0.044%	$7.3M	$34.9M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4512	−0.066%	$29.9M	$25.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4514	−0.022%	—	$68.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4515	+0.009%	$128K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4522	+0.158%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4526	+0.237%	$607K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4524	+0.199%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4509	−0.124%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4516	+0.022%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4514	−0.022%	$200	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4507	−0.177%	$850K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4514	−0.022%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4512	−0.077%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4516	+0.018%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4508	−0.148%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0218%	8h	0.4505	−0.221%	$4.8M	$806K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0238% / S −0.1965%	1h	0.4512	−0.074%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0304%	1h	0.4511	−0.084%	$323	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4542	+0.598%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0400%	1h	0.4514	−0.022%	$277K	$1.6M	50x	as long as short
Lighter WLD	+0.0936%	1h	0.4523	+0.173%	$5.1M	$2.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1105%	1h	0.4515	+0.004%	$918K	$2.6M	50x	as long as short