Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0432%/8h= −47.3% APRpaid last 24h −0.053%

Price spread now: Binance against Hyperliquid−0.116%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 7 days+0.141%+$14 · spread now −0.116%, 7d avg −0.068%

Together, before fees+0.003%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Binance is 0.048% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.068%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% 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	Hyperliquid WLD	0.4637	0.0532	pay 0.0066% / 1h	40m 17s	$51.6M	$42.9M	10x
Short	Binance WLDUSDT	0.4631	0.0100	get 0.0100% / 8h	5h 40m	$88.0M	$324.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.116%Rate

Funding earned: −$90.65
Price spread: −0.116% → −0.068%: −$4.8
Slippage, 4 orders: −$17.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$132.34
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Binance: live order book, 3 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 Hyperliquid live order book, 3 min ago	0.97 bp	9.2 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	1.07 bp	10.5 bp −$10	19.8 bp −$198	63.7 bp −$6,372	197.9 bp −$98.9K

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	−0.0139%	8h	0.4632	−0.099%	$58K	$4.5M	1.7x	as long as short
KuCoin WLDUSDTM	−0.0038%	8h	0.4633	−0.078%	$7.1M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4631	−0.119%	$165K	$26K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4632	−0.106%	$55K	—	150x	as long as short
Nado WLD-PERP	+0.0059%	1h	0.4628	−0.191%	$268K	$187K	5x	as long as short
Orderly PERP_WLD_USDC	+0.0072%	8h	0.4634	−0.056%	$28K	$893K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4635	−0.039%	$177K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4634	−0.063%	$51K	$508K	5x	as long as short
Binance WLDUSDTshort	+0.0100%	8h	0.4631	−0.116%	$88.0M	$324.9M	75x
Bybit WLDUSDT	+0.0100%	8h	0.4630	−0.142%	$66.1M	$87.8M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4633	−0.078%	$35.0M	$149.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4631	−0.121%	$7.2M	$36.8M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4629	−0.164%	$45.7M	$54.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4631	−0.121%	$30.7M	$29.4M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4630	−0.142%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4633	−0.075%	$138K	$290K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4632	−0.108%	$2.1M	$1.8M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4640	+0.077%	$28K	$317K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4659	+0.475%	$617K	$1.8M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4646	+0.203%	$51K	$236K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4631	−0.123%	$54K	$2.0M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4637	+0.009%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4631	−0.121%	$294	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4624	−0.272%	$844K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4635	−0.035%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4629	−0.160%	$213K	$927K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4632	−0.088%	$31K	$600	3x	as long as short
01 Exchange WLDUSD	+0.0128%	1h	0.4630	−0.145%	$331	$80	5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4629	−0.170%	—	—	20x	as long as short
Phoenix WLD	+0.0172%	1h	0.4639	+0.060%	$5K	$57K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0182%	1h	0.4635	−0.035%	$120K	$923K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4627	−0.207%	$5.0M	$803K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4632	−0.100%	$5K	—	100x	as long as short
Lighter WLD	+0.0344%	1h	0.4638	+0.030%	$5.0M	$2.3M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0480%	1h	0.4640	+0.073%	$276K	$1.7M	50x	as long as short
Hyperliquid WLDlong	+0.0532%	1h	0.4637	long leg	$51.6M	$42.9M	10x
Injective WLD/USDC PERP	+0.0677%	1h	0.4650	+0.289%	$6K	$185K	5.5x	as long as short
Kraken Futures PF_WLDUSD	+0.0894%	1h	0.4634	−0.066%	$902K	$2.9M	50x	as long as short