Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0456%/8h= −50.0% APRpaid last 24h −0.117%

Price spread now: Kalshi against Kraken Futures−0.274%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Kraken Futures Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.403%−$40 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.274%, 7d avg −0.176%

Together, before fees−0.270%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kalshi is 0.098% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.176%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WLDUSD	0.4526	0.0456	pay 0.0057% / 1h	9m 30s	$867K	$2.8M	50x
Short	Kalshi KXWLDPERP	0.4514	0	get 0.0000% / 8h	4h 09m	$51K	$4.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.274%Rate

Funding earned: −$95.83
Price spread: −0.274% → −0.176%: −$9.81
Slippage, 4 orders: −$37.37
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$163.01
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Kalshi: live order book, 4 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	6.63 bp	19.5 bp −$20	30.4 bp −$304	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	3.32 bp	8.3 bp −$8	16.4 bp −$164	doesn't fit	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
Injective WLD/USDC PERP	−0.0309%	1h	0.4508	−0.407%	$6K	$185K	5.5x	as long as short
Nado WLD-PERP	−0.0006%	1h	0.4520	−0.131%	$235K	$175K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4519	−0.173%	$154K	$32K	10x	as long as short
Kalshi KXWLDPERPshort	0.0000%	8h	0.4514	−0.274%	$51K	$4.6M	1.7x
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4520	−0.140%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4524	−0.053%	$27K	$662K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4520	−0.140%	$228K	$1.0M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4521	−0.120%	$54K	$543K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4520	−0.141%	$86.7M	$333.4M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4519	−0.164%	$63.9M	$89.4M	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	0.4520	−0.142%	$34.2M	$151.2M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4520	−0.142%	$7.0M	$36.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4521	−0.120%	$41.8M	$57.1M	300x	as long as short
KuCoin WLDUSDTM	+0.0100%	8h	0.4519	−0.164%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4520	−0.142%	$29.9M	$30.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4520	−0.142%	—	$20.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4525	−0.022%	$132K	$297K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4505	−0.474%	$2.0M	$1.5M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4511	−0.339%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4512	−0.319%	$594K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4509	−0.385%	$48K	$238K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4524	−0.062%	$49K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4523	−0.075%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4524	−0.053%	$219	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4520	−0.142%	$827K	$1.5M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4524	−0.053%	$1.7M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4520	−0.144%	$208K	$880K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4525	−0.031%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4521	−0.122%	—	—	20x	as long as short
Phoenix WLD	+0.0177%	1h	0.4521	−0.117%	$4K	$43K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0192%	1h	0.4525	−0.031%	$136K	$986K	25x	as long as short
01 Exchange WLDUSD	+0.0216%	1h	0.4523	−0.073%	$324	$55	5x	as long as short
Lighter WLD	+0.0216%	1h	0.4527	+0.009%	$4.9M	$2.9M	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4522	−0.096%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4509	−0.385%	$4.8M	$896K	75x	as long as short
Hyperliquid WLD	+0.0401%	1h	0.4527	+0.024%	$50.3M	$43.0M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4527	+0.013%	$269K	$1.6M	50x	as long as short
Kraken Futures PF_WLDUSDlong	+0.0456%	1h	0.4526	long leg	$867K	$2.8M	50x