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 −0.025%

Price spread now: Bybit against Phemex−0.414%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1351.355% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.414%, 7d avg −0.040%

Together, before fees+0.106%+$11 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: Bybit is 0.373% cheaper against Phemex than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4594	0.0100	pay 0.0100% / 8h	7h 55m	$1.8M	$3.7M	50x
Short	Bybit WLDUSDT	0.4575	0.0100	get 0.0100% / 8h	7h 55m	$65.7M	$82.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.414%Rate

Funding earned: $0
Price spread: −0.414% → −0.040%: −$37.32
Slippage, 4 orders: −$112.46
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$172.78
Costs to cover: 1.355%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Bybit: 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 Phemex live order book, 3 min ago	15.29 bp	71.0 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.10 bp	10.5 bp −$11	21.1 bp −$211	129.4 bp −$12.9K	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
Gate WLD_USDT	−0.0231%	8h	0.4576	−0.392%	$7.5M	$34.9M	75x	as long as short
Kalshi KXWLDPERP	−0.0208%	8h	0.4593	−0.022%	$65K	$3.9M	1.7x	as long as short
ApeX Omni WLDUSDT	−0.0046%	1h	0.4583	−0.239%	$54K	$228K	50x	as long as short
KuCoin WLDUSDTM	−0.0001%	8h	0.4573	−0.457%	$7.0M	$11.0M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4574	−0.439%	$163K	$13K	10x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4589	−0.104%	$56K	—	150x	as long as short
Nado WLD-PERP	+0.0037%	1h	0.4576	−0.392%	$276K	$169K	5x	as long as short
Injective WLD/USDC PERP	+0.0038%	1h	0.4585	−0.196%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0040%	8h	0.4588	−0.131%	$28K	$905K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4576	−0.390%	$191K	$1.0M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLD	+0.0100%	1h	0.4576	−0.402%	$54K	$487K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4576	−0.399%	$86.5M	$303.9M	75x	as long as short
Bybit WLDUSDTshort	+0.0100%	8h	0.4575	−0.414%	$65.7M	$82.6M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4575	−0.414%	$34.3M	$143.4M	50x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4575	−0.414%	$46.4M	$53.1M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4574	−0.435%	$30.3M	$26.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4575	−0.414%	—	$67.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4594	+0.002%	$137K	$283K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4593	−0.024%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4577	−0.359%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4589	−0.098%	$609K	$1.9M	10x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4577	−0.366%	$48K	$1.6M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4593	−0.022%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4591	−0.065%	$212	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4586	−0.174%	$853K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4594	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4571	−0.508%	$231K	$847K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4590	−0.078%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0104%	1h	0.4583	−0.235%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4573	−0.449%	—	—	20x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0186%	1h	0.4592	−0.044%	$123K	$892K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4585	−0.196%	$4.9M	$820K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0229% / S −0.1268%	1h	0.4588	−0.136%	$5K	—	100x	as long as short
01 Exchange WLDUSD	+0.0272%	1h	0.4577	−0.364%	$327	$77	5x	as long as short
Kraken Futures PF_WLDUSD	+0.0328%	1h	0.4594	+0.010%	$905K	$2.7M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0448%	1h	0.4598	+0.087%	$273K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0747%	1h	0.4586	−0.168%	$50.9M	$43.6M	10x	as long as short
Lighter WLD	+0.1152%	1h	0.4583	−0.233%	$5.2M	$2.0M	10x	as long as short