Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0293%/8h= +32.0% APRpaid last 24h −0.093%

Price spread now: MEXC against Kraken Futures−0.081%7-day average −0.054% · 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−$35as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 4 days (all we have)−0.182%−$18 · spread now −0.081%, 7d avg −0.054%

Together, before fees−0.386%−$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of −0.054%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.204%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.204% in total (about -10.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WLDUSD	0.4482	−0.0193	get 0.0024% / 1h	1m 37s	$840K	$2.6M	50x
Short	MEXC WLD_USDT	0.4478	0.0100	get 0.0100% / 8h	5h 01m	$41.6M	$56.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now −0.081%Rate

Funding earned: $61.43
Price spread: −0.081% → −0.054%: −$2.71
Slippage, 4 orders: −$22.22
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $26.5
Costs to cover: 0.322%
Break-even: 4.0 days

Slippage from Kraken Futures: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	2.23 bp	9.4 bp −$9	17.8 bp −$178	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.12 bp	2.2 bp −$2	4.7 bp −$47	12.0 bp −$1,202	60.2 bp −$30.1K

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
Polymarket Perps WLD-USD	−0.0346%	1h	0.4478	−0.090%	$40K	$2.7M	10x	as long as short
Kraken Futures PF_WLDUSDlong	−0.0193%	1h	0.4482	long leg	$840K	$2.6M	50x
Bybit WLDUSDT	−0.0134%	8h	0.4480	−0.036%	$63.9M	$84.9M	50x	as long as short
Nado WLD-PERP	−0.0119%	1h	0.4478	−0.070%	$234K	$157K	5x	as long as short
Gate WLD_USDT	−0.0084%	8h	0.4480	−0.036%	$7.1M	$31.8M	75x	as long as short
01 Exchange WLDUSD	−0.0032%	1h	0.4485	+0.077%	$321	$55	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4479	−0.059%	$59K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4480	−0.036%	$101K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4481	−0.025%	$65K	—	150x	as long as short
dYdX WLD-USD	+0.0003%	1h	0.4481	−0.008%	$153K	$31K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WLD/USDC PERP	+0.0007%	1h	0.4477	−0.103%	$6K	$185K	5.5x	as long as short
Variational Omni WLD	+0.0017%	8h	0.4477	−0.096%	$2.1M	$1.4M	—	as long as short
KuCoin WLDUSDTM	+0.0018%	8h	0.4479	−0.059%	$6.8M	$10.1M	50x	as long as short
Phoenix WLD	+0.0053%	1h	0.4482	+0.019%	$4K	$40K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0083%	8h	0.4478	−0.081%	$27K	$242K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4486	+0.093%	$4.9M	$3.0M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4482	+0.008%	$220K	$904K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4481	−0.014%	$64K	$512K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4482	+0.008%	$84.8M	$312.9M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4480	−0.036%	$34.3M	$142.3M	50x	as long as short
MEXC WLD_USDTshort	+0.0100%	8h	0.4478	−0.081%	$41.6M	$56.3M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4478	−0.081%	$29.3M	$28.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4479	−0.059%	—	$55.4M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4480	−0.034%	$126K	$272K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4476	−0.116%	$27K	$322K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4478	−0.081%	$599K	$2.3M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4480	−0.036%	$48K	$249K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4485	+0.075%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4479	−0.059%	$233	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4473	−0.193%	$820K	$1.1M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4477	−0.103%	$1.7M	$3.5M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4478	−0.081%	$211K	$645K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4480	−0.040%	$30K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4476	−0.119%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4478	−0.072%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4477	−0.103%	$4.7M	$891K	75x	as long as short
Hyperliquid WLD	+0.0232%	1h	0.4489	+0.153%	$51.1M	$28.7M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4481	−0.014%	$272K	$974K	50x	as long as short