Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.046%

Price spread now: Phemex against Hyperliquid−0.067%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$930.934% of the position

Long on Hyperliquid Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.244%+$24 · spread now −0.067%, 7d avg −0.090%

Together, before fees+0.163%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.023% dearer against Hyperliquid than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLD	0.4496	0.0100	pay 0.0013% / 1h	20m 08s	$49.9M	$42.2M	10x
Short	Phemex WLDUSDT	0.4493	0.0100	get 0.0100% / 8h	6h 20m	$1.7M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.090%: $2.34
Slippage, 4 orders: −$72.43
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$91.09
Costs to cover: 0.934%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Phemex: live order book, 2 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, 6 min ago	0.44 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	4.44 bp	35.7 bp −$36	doesn't fit	doesn't fit	doesn't fit

WLD on 38 exchanges

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	−0.0081%	1h	0.4491	−0.100%	$236K	$172K	5x	as long as short
Gate WLD_USDT	−0.0055%	8h	0.4491	−0.111%	$7.0M	$32.7M	75x	as long as short
Bybit WLDUSDT	−0.0018%	8h	0.4489	−0.156%	$64.2M	$89.2M	50x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4494	−0.044%	$62K	$4.5M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4492	−0.089%	$109K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4496	−0.007%	$65K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0033%	1h	0.4477	−0.423%	$6K	$185K	5.5x	as long as short
01 Exchange WLDUSD	+0.0056%	1h	0.4498	+0.040%	$322	$55	5x	as long as short
Lighter WLD	+0.0096%	1h	0.4496	−0.007%	$4.9M	$3.0M	10x	as long as short
KuCoin WLDUSDTM	+0.0096%	8h	0.4493	−0.067%	$6.6M	$11.2M	50x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WLD_USDC	+0.0096%	8h	0.4491	−0.111%	$27K	$408K	10x	as long as short
Hyperliquid WLDlong	+0.0100%	1h	0.4496	long leg	$49.9M	$42.2M	10x
Aster WLDUSDT	+0.0100%	8h	0.4494	−0.055%	$211K	$983K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4495	−0.022%	$58K	$540K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4491	−0.111%	$85.4M	$329.4M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4490	−0.133%	$34.0M	$147.5M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4490	−0.133%	$41.0M	$56.9M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4491	−0.111%	$29.6M	$30.8M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4493	−0.067%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4491	−0.102%	$130K	$277K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4491	−0.121%	$2.1M	$1.4M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4498	+0.039%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4502	+0.141%	$592K	$2.2M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4504	+0.178%	$59K	$242K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4489	−0.162%	$49K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4499	+0.067%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4490	−0.133%	$232	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4492	−0.089%	$823K	$1.2M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4493	−0.067%	$1.7M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4488	−0.186%	$212K	$793K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4492	−0.087%	$30K	$500	3x	as long as short
Phoenix WLD	+0.0123%	1h	0.4502	+0.136%	$4K	$43K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4490	−0.132%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0203%	1h	0.4493	−0.072%	$880K	$2.7M	50x	as long as short
dYdX WLD-USD	+0.0204%	1h	0.4497	+0.013%	$153K	$31K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4492	−0.078%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4496	0.000%	$4.7M	$974K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0416%	1h	0.4497	+0.022%	$276K	$1.5M	50x	as long as short