Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Backpack against KuCoin+0.004%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$590.595% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.004%, 7d avg +0.039%

Together, before fees+0.080%+$8 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: Backpack is 0.035% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WLDUSDTM	0.4536	0.0100	pay 0.0100% / 8h	1h 03m	$6.7M	$11.7M	50x
Short	Backpack WLD_USDC_PERP	0.4536	0.0100	get 0.0013% / 1h	3m 17s	$133K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → +0.039%: −$3.48
Slippage, 4 orders: −$37.47
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$62.95
Costs to cover: 0.595%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Backpack: live order book, 40 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 KuCoin live order book, 5 min ago	2.21 bp	23.8 bp −$24	40.1 bp −$401	doesn't fit	doesn't fit
Sell Backpack live order book, 40 min ago	1.32 bp	8.1 bp −$8	doesn't fit	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
Nado WLD-PERP	−0.0023%	1h	0.4531	−0.110%	$236K	$170K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4532	−0.097%	$155K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4535	−0.022%	$57K	$4.7M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4525	−0.250%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4535	−0.022%	$27K	$742K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4535	−0.029%	$227K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4531	−0.114%	$49K	$537K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4536	+0.003%	$86.6M	$334.8M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4536	0.000%	$64.6M	$89.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4535	−0.022%	$34.3M	$152.3M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WLD_USDT	+0.0100%	8h	0.4530	−0.132%	$7.1M	$36.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4536	0.000%	$40.2M	$57.7M	300x	as long as short
KuCoin WLDUSDTMlong	+0.0100%	8h	0.4536	long leg	$6.7M	$11.7M	50x
Bitget WLDUSDT	+0.0100%	8h	0.4535	−0.022%	$30.0M	$30.9M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4535	−0.022%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERPshort	+0.0100%	1h	0.4536	+0.004%	$133K	$294K	10x
Variational Omni WLD	+0.0100%	8h	0.4535	−0.029%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4530	−0.130%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4531	−0.110%	$597K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4531	−0.110%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4534	−0.040%	$46K	$2.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4538	+0.044%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4536	0.000%	$218	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4527	−0.198%	$828K	$1.6M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4537	+0.022%	$1.8M	$3.6M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4534	−0.040%	$208K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4538	+0.034%	$31K	$500	3x	as long as short
Lighter WLD	+0.0128%	1h	0.4542	+0.130%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0132%	1h	0.4581	+0.992%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4528	−0.182%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0136%	1h	0.4539	+0.066%	$325	$55	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4541	+0.121%	$5K	$44K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0191%	1h	0.4538	+0.044%	$151K	$954K	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4527	−0.191%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4534	−0.044%	$3.8M	$914K	75x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4535	−0.022%	$273K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0489%	1h	0.4537	+0.013%	$50.2M	$44.0M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1043%	1h	0.4539	+0.071%	$877K	$2.8M	50x	as long as short