Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0944%/8h= −103.4% APRpaid last 24h −0.049%

Price spread now: BingX against Kraken Futures−0.119%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now −0.119%, 7d avg −0.055%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and BingX is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.055%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% 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	Kraken Futures PF_WLDUSD	0.4533	0.1044	pay 0.0131% / 1h	0m 06s	$876K	$2.8M	50x
Short	BingX WLD-USDC	0.4528	0.0100	get 0.0100% / 8h	1h 00m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$198.29
Price spread: −0.119% → −0.055%: −$6.39
Slippage, 4 orders: −$45.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$269.74
Costs to cover: 0.651%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; BingX: live order book, 1 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 Kraken Futures live order book, 4 min ago	7.72 bp	22.9 bp −$23	34.7 bp −$347	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	2.21 bp	15.7 bp −$16	57.9 bp −$579	561.8 bp −$56.2K	812.4 bp −$406.2K

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
Nado WLD-PERP	−0.0019%	1h	0.4526	−0.152%	$236K	$170K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4525	−0.192%	$154K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4523	−0.229%	$57K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4532	−0.031%	$150K	$954K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4530	−0.079%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4530	−0.075%	$27K	$732K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4530	−0.070%	$226K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4523	−0.219%	$49K	$537K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4530	−0.072%	$86.5M	$334.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4528	−0.119%	$64.5M	$89.3M	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	0.4528	−0.119%	$34.3M	$152.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4528	−0.119%	$7.1M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4530	−0.075%	$40.1M	$57.8M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4527	−0.141%	$6.6M	$11.7M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4530	−0.075%	$30.0M	$30.8M	75x	as long as short
BingX WLD-USDCshort	+0.0100%	8h	0.4528	−0.119%	—	$1.3M	—
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4533	−0.008%	$132K	$293K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4522	−0.258%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4529	−0.090%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4534	+0.014%	$597K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4531	−0.053%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4531	−0.055%	$46K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4534	+0.014%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4530	−0.075%	$219	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4523	−0.229%	$827K	$1.6M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4531	−0.053%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4529	−0.102%	$208K	$945K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4532	−0.032%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0132%	1h	0.4581	+1.050%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4529	−0.091%	—	—	20x	as long as short
Lighter WLD	+0.0136%	1h	0.4536	+0.060%	$4.9M	$2.9M	10x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4532	−0.037%	$324	$55	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4534	+0.009%	$5K	$44K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4530	−0.073%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4525	−0.185%	$3.8M	$916K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4535	+0.036%	$273K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0493%	1h	0.4535	+0.025%	$50.4M	$44.1M	10x	as long as short
Kraken Futures PF_WLDUSDlong	+0.1044%	1h	0.4533	long leg	$876K	$2.8M	50x