Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0416%/8h= +45.5% APRpaid last 24h +0.060%

Price spread now: Coinbase International against Orderly+0.044%7-day average +0.051% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 3 days (all we have)−0.186%−$19 · spread now +0.044%, 7d avg +0.051%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.051%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.146% in total (about 7.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WLD_USDC	0.4512	−0.0016	get 0.0016% / 8h	2h 04m	$27K	$916K	10x
Short	Coinbase International WLD-PERP-INTX	0.4514	0.0400	get 0.0050% / 1h	4m 02s	$277K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.044%Rate

Funding earned: $87.35
Price spread: +0.044% → +0.051%: −$0.66
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $70.69
Costs to cover: 0.160%
Break-even: 1.3 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	3.31 bp	14.9 bp −$15	21.9 bp −$219	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kalshi KXWLDPERP	−0.0490%	8h	0.4510	−0.044%	$45K	$3.8M	1.7x	as long as short
Orderly PERP_WLD_USDClong	−0.0016%	8h	0.4512	long leg	$27K	$916K	10x
KuCoin WLDUSDTM	−0.0005%	8h	0.4510	−0.044%	$7.0M	$10.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4510	−0.049%	$154K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4515	+0.066%	$122K	$911K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4512	+0.011%	$56K	—	150x	as long as short
Variational Omni WLD	+0.0018%	8h	0.4512	+0.007%	$2.1M	$1.7M	—	as long as short
Nado WLD-PERP	+0.0043%	1h	0.4507	−0.111%	$270K	$169K	5x	as long as short
Phoenix WLD	+0.0052%	1h	0.4522	+0.213%	$5K	$52K	10x	as long as short
OKX WLD-USDT-SWAP	+0.0091%	8h	0.4515	+0.066%	$33.7M	$137.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC WLD_USDT	+0.0097%	8h	0.4513	+0.022%	$49.8M	$48.6M	300x	as long as short
Binance WLDUSDT	+0.0099%	8h	0.4514	+0.038%	$84.7M	$293.1M	75x	as long as short
Hyperliquid WLD	+0.0100%	1h	0.4519	+0.155%	$46.4M	$41.3M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4512	−0.003%	$211K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4509	−0.066%	$51K	$481K	5x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4514	+0.044%	$64.3M	$80.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4513	+0.022%	$7.3M	$34.9M	75x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4512	0.000%	$29.9M	$25.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4514	+0.044%	—	$68.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4515	+0.075%	$128K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4522	+0.225%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4526	+0.303%	$607K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4524	+0.266%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4509	−0.058%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4516	+0.089%	$22K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4514	+0.044%	$200	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4507	−0.111%	$850K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4514	+0.044%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4512	−0.011%	$132K	$745K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4516	+0.085%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4508	−0.082%	—	—	20x	as long as short
BloFin WLD-USDT	+0.0218%	8h	0.4505	−0.155%	$4.8M	$806K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0238% / S −0.1965%	1h	0.4512	−0.008%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0304%	1h	0.4511	−0.018%	$323	$77	5x	as long as short
Injective WLD/USDC PERP	+0.0374%	1h	0.4542	+0.665%	$6K	$185K	5.5x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0400%	1h	0.4514	+0.044%	$277K	$1.6M	50x
Lighter WLD	+0.0936%	1h	0.4523	+0.239%	$5.1M	$2.1M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1105%	1h	0.4515	+0.071%	$918K	$2.6M	50x	as long as short