Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: Phemex against MEXC+0.111%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1021.019% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.111%, 7d avg +0.021%

Together, before fees+0.121%+$12 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: Phemex is 0.090% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WLD_USDT	0.4511	0.0100	pay 0.0100% / 8h	35m 30s	$41.7M	$56.3M	300x
Short	Phemex WLDUSDT	0.4516	0.0100	get 0.0100% / 8h	35m 30s	$1.7M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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 MEXCbpFee PhemexbpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → +0.021%: $8.98
Slippage, 4 orders: −$89.91
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.93
Costs to cover: 1.019%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	1.10 bp	1.9 bp −$2	5.3 bp −$53	24.4 bp −$2,444	76.4 bp −$38.2K
Sell Phemex live order book, 3 min ago	11.04 bp	44.9 bp −$45	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
Injective WLD/USDC PERP	−0.0309%	1h	0.4531	+0.443%	$6K	$185K	5.5x	as long as short
Nado WLD-PERP	−0.0035%	1h	0.4511	−0.011%	$235K	$175K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4512	+0.024%	$154K	$32K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4522	+0.244%	$57K	$4.7M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4518	+0.155%	$140K	$979K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4517	+0.128%	$65K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4517	+0.133%	$27K	$708K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4512	+0.030%	$224K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4513	+0.047%	$49K	$531K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4511	−0.005%	$86.6M	$333.9M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4508	−0.067%	$64.1M	$89.4M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4508	−0.067%	$34.1M	$151.3M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4511	0.000%	$7.1M	$35.6M	75x	as long as short
MEXC WLD_USDTlong	+0.0100%	8h	0.4511	long leg	$41.7M	$56.3M	300x
KuCoin WLDUSDTM	+0.0100%	8h	0.4510	−0.022%	$6.6M	$11.6M	50x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4509	−0.044%	$29.8M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4511	0.000%	—	$72.5M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4516	+0.115%	$131K	$300K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4514	+0.058%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4519	+0.188%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4531	+0.440%	$605K	$2.1M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4520	+0.200%	$48K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4510	−0.027%	$48K	$2.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4523	+0.266%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4515	+0.089%	$219	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4517	+0.133%	$826K	$1.5M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4516	+0.111%	$1.7M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4509	−0.034%	$208K	$880K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4517	+0.142%	$31K	$500	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4509	−0.053%	—	—	20x	as long as short
Lighter WLD	+0.0152%	1h	0.4518	+0.166%	$4.9M	$2.9M	10x	as long as short
Phoenix WLD	+0.0177%	1h	0.4520	+0.202%	$5K	$43K	10x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4516	+0.113%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4517	+0.133%	$4.8M	$903K	75x	as long as short
01 Exchange WLDUSD	+0.0232%	1h	0.4513	+0.047%	$323	$55	5x	as long as short
Hyperliquid WLD	+0.0433%	1h	0.4515	+0.095%	$50.2M	$43.8M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4524	+0.288%	$272K	$1.6M	50x	as long as short
Kraken Futures PF_WLDUSD	+0.0457%	1h	0.4517	+0.140%	$864K	$2.8M	50x	as long as short