Funding arb · Price arb /

WLD

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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: Kraken Futures against MEXC+0.081%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

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

Long on MEXC Short on Kraken Futures

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

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

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	MEXC WLD_USDT	0.4478	0.0100	pay 0.0100% / 8h	5h 01m	$41.6M	$56.3M	300x
Short	Kraken Futures PF_WLDUSD	0.4482	−0.0193	pay 0.0024% / 1h	1m 37s	$840K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$61.43
Price spread: +0.081% → +0.054%: $2.72
Slippage, 4 orders: −$22.22
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$90.94
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Kraken Futures: 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 MEXC live order book, 5 min ago	1.12 bp	1.1 bp −$1	3.1 bp −$31	18.4 bp −$1,844	70.6 bp −$35.3K
Sell Kraken Futures live order book, 5 min ago	2.23 bp	19.5 bp −$20	29.8 bp −$298	1015.7 bp −$101.6K	doesn't fit

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	−0.009%	$40K	$2.7M	10x	as long as short
Kraken Futures PF_WLDUSDshort	−0.0193%	1h	0.4482	+0.081%	$840K	$2.6M	50x
Bybit WLDUSDT	−0.0134%	8h	0.4480	+0.045%	$63.9M	$84.9M	50x	as long as short
Nado WLD-PERP	−0.0119%	1h	0.4478	+0.011%	$234K	$157K	5x	as long as short
Gate WLD_USDT	−0.0084%	8h	0.4480	+0.045%	$7.1M	$31.8M	75x	as long as short
01 Exchange WLDUSD	−0.0032%	1h	0.4485	+0.159%	$321	$55	5x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4479	+0.022%	$59K	$4.2M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4480	+0.045%	$101K	$1.1M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4481	+0.056%	$65K	—	150x	as long as short
dYdX WLD-USD	+0.0003%	1h	0.4481	+0.073%	$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	−0.022%	$6K	$185K	5.5x	as long as short
Variational Omni WLD	+0.0017%	8h	0.4477	−0.015%	$2.1M	$1.4M	—	as long as short
KuCoin WLDUSDTM	+0.0018%	8h	0.4479	+0.022%	$6.8M	$10.1M	50x	as long as short
Phoenix WLD	+0.0053%	1h	0.4482	+0.100%	$4K	$40K	10x	as long as short
Orderly PERP_WLD_USDC	+0.0083%	8h	0.4478	0.000%	$27K	$242K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4486	+0.174%	$4.9M	$3.0M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4482	+0.089%	$220K	$904K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4481	+0.067%	$64K	$512K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4482	+0.089%	$84.8M	$312.9M	75x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4480	+0.045%	$34.3M	$142.3M	50x	as long as short
MEXC WLD_USDTlong	+0.0100%	8h	0.4478	long leg	$41.6M	$56.3M	300x
Bitget WLDUSDT	+0.0100%	8h	0.4478	0.000%	$29.3M	$28.5M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4479	+0.022%	—	$55.4M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4480	+0.047%	$126K	$272K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4476	−0.035%	$27K	$322K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4478	0.000%	$599K	$2.3M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4480	+0.045%	$48K	$249K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4485	+0.156%	$22K	$1.4M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4479	+0.022%	$233	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4473	−0.112%	$820K	$1.1M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4477	−0.022%	$1.7M	$3.5M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4478	0.000%	$211K	$645K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4480	+0.041%	$30K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4476	−0.038%	—	—	20x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4478	+0.009%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4477	−0.022%	$4.7M	$891K	75x	as long as short
Hyperliquid WLD	+0.0232%	1h	0.4489	+0.234%	$51.1M	$28.7M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0344%	1h	0.4481	+0.067%	$272K	$974K	50x	as long as short