Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.026%

Price spread now: Bitget against Injective−0.506%91s7-day average −0.227% · you buy dearer than you sell

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 3 days (all we have)+0.245%+$24 · spread now −0.506%, 7d avg −0.227%

Together, before fees+0.279%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.279% cheaper against Injective than usual: you would sell low and buy high (spread −0.506% now, against its 7-day average of −0.227%). If the spread goes back, that is −$28 on $10k: about 15 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.034% in total) that is about 58 days. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WLD/USDC PERP	0.4744	0.0038	pay 0.0005% / 1h	9m 45s	$6K	$185K	5.5x
Short	Bitget WLDUSDT	0.4720	0.0100	get 0.0100% / 8h	7h 09m	$31.6M	$27.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BitgetbpOrdersPrice spread, now −0.506%Rate

Funding earned: $13.08
Price spread: −0.506% → −0.227%: −$27.9
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.85
Costs to cover: 0.120%
Break-even: 21.4 days

Slippage unknown: Injective: live order book, 29 min ago; Bitget: live order book, 4 min ago. 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 Injective live order book, 29 min ago	71.71 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	3.16 bp	12.9 bp −$13	24.5 bp −$245	64.1 bp −$6,407	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	−0.0159%	8h	0.4739	−0.105%	$23K	$4.0M	1.7x	as long as short
Nado WLD-PERP	−0.0027%	1h	0.4738	−0.116%	$275K	$178K	5x	as long as short
KuCoin WLDUSDTM	−0.0009%	8h	0.4718	−0.548%	$7.1M	$11.1M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4715	−0.618%	$168K	$12K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4725	−0.401%	$135K	$863K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4727	−0.359%	$56K	—	150x	as long as short
Injective WLD/USDC PERPlong	+0.0038%	1h	0.4744	long leg	$6K	$185K	5.5x
Orderly PERP_WLD_USDC	+0.0050%	8h	0.4723	−0.443%	$29K	$900K	10x	as long as short
Phemex WLDUSDT	+0.0057%	8h	0.4720	−0.506%	$1.9M	$3.7M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4726	−0.389%	$211K	$995K	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4737	−0.151%	$55K	$482K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4714	−0.630%	$90.2M	$310.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4718	−0.548%	$68.3M	$83.6M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4720	−0.506%	$35.8M	$149.8M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4720	−0.506%	$7.6M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4719	−0.527%	$49.4M	$55.0M	300x	as long as short
Bitget WLDUSDTshort	+0.0100%	8h	0.4720	−0.506%	$31.6M	$27.3M	75x
BingX WLD-USDT	+0.0100%	8h	0.4719	−0.527%	—	$67.2M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4723	−0.438%	$140K	$277K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4717	−0.575%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4762	+0.388%	$28K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4749	+0.113%	$627K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4768	+0.506%	$58K	$232K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4740	−0.091%	$49K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4741	−0.063%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4718	−0.548%	$225	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4721	−0.485%	$898K	$1.9M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4716	−0.580%	$218K	$894K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4722	−0.474%	$32K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4731	−0.279%	—	—	20x	as long as short
Phoenix WLD	+0.0157%	1h	0.4749	+0.114%	$5K	$53K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4720	−0.506%	$5.0M	$877K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0239% / S −0.1538%	1h	0.4728	−0.331%	$6K	—	100x	as long as short
01 Exchange WLDUSD	+0.0256%	1h	0.4741	−0.061%	$339	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0319%	1h	0.4721	−0.475%	$935K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4723	−0.443%	$277K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0875%	1h	0.4728	−0.339%	$53.0M	$44.0M	10x	as long as short
Lighter WLD	+0.1024%	1h	0.4724	−0.413%	$5.3M	$2.0M	10x	as long as short