Funding you earn now, next payment 08:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.080%
Price spread now: Coinbase International against Phemex−0.089%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$119as in the Funding arb table
Net, price: spread back to 7d avg − costs−$138as in the Price arb table
costs, in and out, $10k−$1241.245% of the position
Funding, last 7 days+0.055%+$5 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.089%, 7d avg +0.051%
=Funding pays, the price is against you. Coinbase International is 0.140% cheaper against Phemex than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.051%). If the spread goes back, that is −$14 on $10k: about 33 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.055% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.055% in total (about 2.9% 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 | Phemex WLDUSDT | 0.4509 | 0.0100 | pay 0.0100% / 8h | 7h 24m | $1.7M | $3.5M | 50x |
| Short | Coinbase International WLD-PERP-INTX | 0.4505 | 0.0440 | get 0.0055% / 1h | 24m 05s | $267K | $1.6M | 50x |
Phemex WLDUSDT
Coinbase International WLD-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $71.4
- Price spread: −0.089% → +0.051%
- −$14.02
- Slippage, 4 orders
- −$102.48
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$67.1
- Costs to cover
- 1.245%
- Break-even
- 13.6 days
Slippage from Phemex: live order book, 5 min ago; Coinbase International: live order book, 4 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, 5 min ago | 10.06 bp | 41.0 bp −$41 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 4.47 bp | 12.5 bp −$13 | 18.3 bp −$183 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado WLD-PERP | −0.0016% | 1h | 0.4503 | −0.133% | $234K | $175K | 5x | as long as short |
| Kalshi KXWLDPERP | 0.0000% | 8h | 0.4504 | −0.111% | $49K | $4.6M | 1.7x | as long as short |
| gTrade (Gains Network) WLD/USD | L +0.0003% / S −0.0003% | 1h | 0.4488 | −0.471% | $65K | — | 150x | as long as short |
| Bybit WLDUSDT | +0.0044% | 8h | 0.4508 | −0.022% | $63.8M | $89.2M | 50x | as long as short |
| Orderly PERP_WLD_USDC | +0.0099% | 8h | 0.4507 | −0.044% | $27K | $572K | 10x | as long as short |
| Hyperliquid WLD | +0.0100% | 1h | 0.4514 | +0.104% | $50.0M | $43.0M | 10x | as long as short |
| Aster WLDUSDT | +0.0100% | 8h | 0.4511 | +0.043% | $226K | $1.0M | 50x | as long as short |
| Pacifica WLD | +0.0100% | 1h | 0.4495 | −0.306% | $56K | $553K | 5x | as long as short |
| Binance WLDUSDT | +0.0100% | 8h | 0.4513 | +0.079% | $86.1M | $334.1M | 75x | as long as short |
| OKX WLD-USDT-SWAP | +0.0100% | 8h | 0.4509 | 0.000% | $34.1M | $149.8M | 50x | as long as short |
Nado WLD-PERP
Kalshi KXWLDPERP
gTrade (Gains Network) WLD/USD
Bybit WLDUSDT
Orderly PERP_WLD_USDC
Hyperliquid WLD
Aster WLDUSDT
Pacifica WLD
Binance WLDUSDT
OKX WLD-USDT-SWAPShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate WLD_USDT | +0.0100% | 8h | 0.4510 | +0.022% | $7.1M | $34.8M | 75x | as long as short |
| MEXC WLD_USDT | +0.0100% | 8h | 0.4509 | 0.000% | $41.8M | $56.6M | 300x | as long as short |
| KuCoin WLDUSDTM | +0.0100% | 8h | 0.4506 | −0.067% | $6.6M | $11.7M | 50x | as long as short |
| Bitget WLDUSDT | +0.0100% | 8h | 0.4509 | 0.000% | $29.7M | $31.3M | 75x | as long as short |
| BingX WLD-USDC | +0.0100% | 8h | 0.4508 | −0.022% | — | $1.3M | — | as long as short |
| Backpack WLD_USDC_PERP | +0.0100% | 1h | 0.4514 | +0.109% | $131K | $298K | 10x | as long as short |
| Variational Omni WLD | +0.0100% | 8h | 0.4470 | −0.873% | $2.1M | $1.5M | — | as long as short |
| edgeX WLDUSDC | +0.0100% | 4h | 0.4478 | −0.686% | $27K | $320K | 20x | as long as short |
| GRVT WLD_USDT_Perp | +0.0100% | 8h | 0.4480 | −0.637% | $597K | $2.1M | 10x | as long as short |
| ApeX Omni WLDUSDT | +0.0100% | 1h | 0.4479 | −0.665% | $48K | $237K | 50x | as long as short |
| Polymarket Perps WLD-USD | +0.0100% | 1h | 0.4507 | −0.044% | $49K | $2.6M | 10x | as long as short |
| SunX WLD-USDT | +0.0100% | 8h | 0.4510 | +0.022% | $22K | $1.6M | 50x | as long as short |
| SoDEX WLD-USD | +0.0100% | 1h | 0.4509 | 0.000% | $222 | $5K | 10x | as long as short |
| HTX WLD-USDT | +0.0100% | 8h | 0.4501 | −0.177% | $825K | $1.4M | 50x | as long as short |
| Phemex WLDUSDTlong | +0.0100% | 8h | 0.4509 | long leg | $1.7M | $3.5M | 50x | |
| Extended WLD-USD | +0.0104% | 1h | 0.4507 | −0.049% | $213K | $907K | 10x | as long as short |
| Aevo WLD-PERP | +0.0104% | 1h | 0.4508 | −0.011% | $31K | $500 | 3x | as long as short |
| Injective WLD/USDC PERP | +0.0109% | 1h | 0.4508 | −0.022% | $6K | $185K | 5.5x | as long as short |
| Reya WLDRUSDPERP | +0.0134% | 1h | 0.4507 | −0.039% | — | — | 20x | as long as short |
| Lighter WLD | +0.0152% | 1h | 0.4515 | +0.124% | $4.9M | $3.0M | 10x | as long as short |
| 01 Exchange WLDUSD | +0.0160% | 1h | 0.4506 | −0.064% | $322 | $55 | 5x | as long as short |
| Deribit WLD_USDC-PERPETUAL | +0.0194% | 1h | 0.4510 | +0.022% | $116K | $991K | 25x | as long as short |
| Phoenix WLD | +0.0194% | 1h | 0.4483 | −0.574% | $4K | $44K | 10x | as long as short |
| dYdX WLD-USD | +0.0202% | 1h | 0.4492 | −0.385% | $153K | $31K | 10x | as long as short |
| GMX WLD/USD [ETH-USDC] | L +0.0219% / S −0.0967% | 1h | 0.4507 | −0.041% | $4K | — | 100x | as long as short |
| BloFin WLD-USDT | +0.0220% | 8h | 0.4487 | −0.488% | $4.4M | $927K | 75x | as long as short |
| Kraken Futures PF_WLDUSD | +0.0304% | 1h | 0.4511 | +0.040% | $894K | $2.8M | 50x | as long as short |
| Coinbase International WLD-PERP-INTXshort | +0.0440% | 1h | 0.4505 | −0.089% | $267K | $1.6M | 50x |
Gate WLD_USDT
MEXC WLD_USDT
KuCoin WLDUSDTM
Bitget WLDUSDT
BingX WLD-USDC
Backpack WLD_USDC_PERP
Variational Omni WLD
edgeX WLDUSDC
GRVT WLD_USDT_Perp
ApeX Omni WLDUSDT
Polymarket Perps WLD-USD
SunX WLD-USDT
SoDEX WLD-USD
HTX WLD-USDT
Extended WLD-USD
Aevo WLD-PERP
Injective WLD/USDC PERP
Reya WLDRUSDPERP
Lighter WLD
01 Exchange WLDUSD
Deribit WLD_USDC-PERPETUAL
Phoenix WLD
dYdX WLD-USD
GMX WLD/USD [ETH-USDC]
BloFin WLD-USDT
Kraken Futures PF_WLDUSD