Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.068%

Price spread now: Bybit against Hyperliquid−0.388%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$390.385% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 7 days+0.390%+$39 · spread now −0.388%, 7d avg −0.090%

Together, before fees+0.249%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.298% cheaper against Hyperliquid than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.090%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLD	0.4582	0.0164	pay 0.0021% / 1h	50m 36s	$50.3M	$43.2M	10x
Short	Bybit WLDUSDT	0.4564	0.0100	get 0.0100% / 8h	4h 50m	$65.1M	$88.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.388%Rate

Funding earned: −$13.49
Price spread: −0.388% → −0.090%: −$29.84
Slippage, 4 orders: −$18.53
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$81.87
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Bybit: 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	0.22 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.09 bp	10.9 bp −$11	21.2 bp −$212	112.3 bp −$11.2K	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
Kalshi KXWLDPERP	−0.0109%	8h	0.4579	−0.061%	$58K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0088%	1h	0.4578	−0.083%	$243K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0031%	8h	0.4574	−0.170%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4567	−0.329%	$156K	$33K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4577	−0.105%	$115K	$923K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4578	−0.087%	$55K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4558	−0.519%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0016%	1h	0.4568	−0.308%	$327	$80	5x	as long as short
Orderly PERP_WLD_USDC	+0.0082%	8h	0.4576	−0.127%	$28K	$889K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4571	−0.238%	$4.9M	$2.4M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WLDUSDT	+0.0100%	8h	0.4579	−0.065%	$190K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4570	−0.260%	$49K	$528K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4567	−0.318%	$86.7M	$327.3M	75x	as long as short
Bybit WLDUSDTshort	+0.0100%	8h	0.4564	−0.388%	$65.1M	$88.9M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4565	−0.367%	$34.2M	$148.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4566	−0.345%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4565	−0.367%	$44.8M	$53.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4564	−0.388%	$30.1M	$30.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4565	−0.367%	—	$67.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4578	−0.087%	$134K	$298K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4575	−0.155%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4588	+0.144%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4586	+0.092%	$603K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4590	+0.179%	$43K	$240K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4579	−0.052%	$44K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4585	+0.070%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4575	−0.148%	$175	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4577	−0.105%	$838K	$1.9M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4576	−0.127%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4563	−0.403%	$227K	$974K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4577	−0.105%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4578	−0.088%	—	—	20x	as long as short
Phoenix WLD	+0.0158%	1h	0.4594	+0.260%	$5K	$52K	10x	as long as short
Hyperliquid WLDlong	+0.0164%	1h	0.4582	long leg	$50.3M	$43.2M	10x
BloFin WLD-USDT	+0.0220%	8h	0.4577	−0.105%	$4.9M	$848K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4577	−0.094%	$5K	—	100x	as long as short
Kraken Futures PF_WLDUSD	+0.0479%	1h	0.4577	−0.095%	$885K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0496%	1h	0.4578	−0.083%	$270K	$1.7M	50x	as long as short