Funding arb · Price arb /

WLD

all WLD markets

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: Binance against Phemex−0.185%52s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$980.981% of the position

Long on Phemex Short on Binance

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)−0.049%−$5 · spread now −0.185%, 7d avg −0.016%

Together, before fees−0.158%−$16 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: Binance is 0.170% cheaper against Phemex than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4555	0.0100	pay 0.0100% / 8h	3h 26m	$1.8M	$3.6M	50x
Short	Binance WLDUSDT	0.4547	0.0100	get 0.0100% / 8h	3h 26m	$86.7M	$329.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → −0.016%: −$16.96
Slippage, 4 orders: −$76.14
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$115.1
Costs to cover: 0.981%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 2 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 Phemex live order book, 2 min ago	9.87 bp	47.0 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.10 bp	7.4 bp −$7	13.5 bp −$135	54.0 bp −$5,403	179.3 bp −$89.7K

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	−0.0031%	1h	0.4543	−0.252%	$241K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4546	−0.195%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4555	0.000%	$61K	$4.6M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4548	−0.154%	$123K	$939K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4548	−0.154%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0025%	8h	0.4545	−0.220%	$6.9M	$11.7M	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4550	−0.103%	$39K	$2.1M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4557	+0.033%	$209K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4546	−0.190%	$49K	$524K	5x	as long as short
Binance WLDUSDTshort	+0.0100%	8h	0.4547	−0.185%	$86.7M	$329.7M	75x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDT	+0.0100%	8h	0.4545	−0.220%	$64.7M	$89.7M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4545	−0.220%	$34.4M	$150.7M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4547	−0.176%	$7.3M	$36.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4551	−0.088%	$41.5M	$54.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4546	−0.198%	$30.0M	$30.0M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4549	−0.132%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4552	−0.064%	$136K	$302K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4580	+0.542%	$2.2M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4569	+0.312%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4562	+0.154%	$600K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4580	+0.549%	$43K	$238K	50x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4547	−0.176%	$28K	$868K	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4552	−0.066%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4546	−0.198%	$206	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4557	+0.044%	$833K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4555	long leg	$1.8M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4545	−0.227%	$216K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4547	−0.168%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4545	−0.216%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.461%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4584	+0.641%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4554	−0.022%	$4.9M	$890K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4547	−0.166%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0296%	1h	0.4549	−0.141%	$325	$55	5x	as long as short
Hyperliquid WLD	+0.0399%	1h	0.4552	−0.057%	$50.0M	$43.4M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0522%	1h	0.4548	−0.163%	$884K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4556	+0.022%	$266K	$1.6M	50x	as long as short
Lighter WLD	+0.0808%	1h	0.4558	+0.077%	$5.2M	$2.6M	10x	as long as short