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−0.044%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1191.192% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now −0.044%, 7d avg −0.032%

Together, before fees−0.246%−$25 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4543	0.0100	pay 0.0100% / 8h	1h 56m	$1.8M	$3.7M	50x
Short	Bybit WLDUSDT	0.4541	0.0100	get 0.0100% / 8h	1h 56m	$64.7M	$91.6M	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 −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.032%: −$1.25
Slippage, 4 orders: −$96.17
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$120.42
Costs to cover: 1.192%
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	4.38 bp	59.5 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.10 bp	9.0 bp −$9	16.3 bp −$163	121.3 bp −$12.1K	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
Nado WLD-PERP	−0.0057%	1h	0.4541	−0.055%	$239K	$170K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4543	−0.009%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4544	+0.022%	$56K	$4.8M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4541	−0.044%	$151K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4542	−0.029%	$66K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0080%	8h	0.4542	−0.022%	$6.7M	$11.8M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0099%	8h	0.4541	−0.044%	$27K	$789K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4544	+0.011%	$226K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4543	−0.009%	$50K	$539K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4542	−0.012%	$86.7M	$339.5M	75x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WLDUSDTshort	+0.0100%	8h	0.4541	−0.044%	$64.7M	$91.6M	50x
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4543	0.000%	$34.3M	$155.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4541	−0.044%	$7.2M	$36.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4543	0.000%	$40.4M	$56.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4543	0.000%	$30.0M	$31.3M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4541	−0.044%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4543	+0.004%	$132K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4556	+0.279%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4546	+0.058%	$27K	$319K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4556	+0.286%	$604K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4557	+0.308%	$48K	$240K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4541	−0.042%	$54K	$2.5M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4549	+0.132%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4539	−0.088%	$210	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4539	−0.088%	$830K	$1.7M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4543	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4542	−0.025%	$209K	$1.0M	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4541	−0.033%	$31K	$500	3x	as long as short
Injective WLD/USDC PERP	+0.0132%	1h	0.4544	+0.022%	$6K	$185K	5.5x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4541	−0.038%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4553	+0.229%	$5K	$44K	10x	as long as short
01 Exchange WLDUSD	+0.0176%	1h	0.4544	+0.013%	$325	$55	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4541	−0.047%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4548	+0.110%	$4.8M	$920K	75x	as long as short
Lighter WLD	+0.0424%	1h	0.4546	+0.055%	$4.9M	$2.9M	10x	as long as short
Coinbase International WLD-PERP-INTX	+0.0488%	1h	0.4548	+0.110%	$273K	$1.7M	50x	as long as short
Hyperliquid WLD	+0.0713%	1h	0.4550	+0.145%	$49.7M	$44.7M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.1042%	1h	0.4542	−0.011%	$864K	$2.9M	50x	as long as short