Funding arb · Price arb /

WLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Extended against Phemex−0.092%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$860.856% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.296%+$30 on $10k

Price spread, last 3 days (all we have)−0.304%−$30 · spread now −0.092%, 7d avg −0.069%

Together, before fees−0.008%+ Points / potential airdropExtended: Active · farm board−$1 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: Extended is 0.024% cheaper against Phemex than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4522	0.0100	pay 0.0100% / 8h	1h 58m	$1.8M	$3.8M	50x
Short	Extended WLD-USD	0.4518	0.0104	get 0.0013% / 1h	58m 42s	$132K	$745K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.092%Rate

Funding earned: $0.84
Price spread: −0.092% → −0.069%: −$2.37
Slippage, 4 orders: −$68.58
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$87.11
Costs to cover: 0.856%
Break-even: 732.9 days

Slippage from Phemex: live order book, 5 min ago; Extended: live order book, 24 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	5.53 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 24 min ago	1.10 bp	3.6 bp −$4	11.9 bp −$119	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
Kalshi KXWLDPERP	−0.0486%	8h	0.4518	−0.088%	$45K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4542	+0.442%	$6K	$185K	5.5x	as long as short
Nado WLD-PERP	−0.0019%	1h	0.4521	−0.011%	$271K	$169K	5x	as long as short
Orderly PERP_WLD_USDC	−0.0014%	8h	0.4522	0.000%	$27K	$916K	10x	as long as short
KuCoin WLDUSDTM	−0.0001%	8h	0.4519	−0.066%	$7.0M	$10.7M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4524	+0.034%	$154K	$6K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4523	+0.022%	$122K	$911K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4522	+0.010%	$56K	—	150x	as long as short
Variational Omni WLD	+0.0025%	8h	0.4516	−0.126%	$2.1M	$1.7M	—	as long as short
Phoenix WLD	+0.0052%	1h	0.4523	+0.031%	$5K	$49K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WLD-USDT-SWAP	+0.0098%	8h	0.4521	−0.022%	$33.8M	$137.8M	50x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4520	−0.036%	$212K	$976K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4525	+0.063%	$51K	$481K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4524	+0.044%	$84.9M	$293.7M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4525	+0.066%	$64.4M	$80.5M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4520	−0.044%	$7.3M	$34.5M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4524	+0.044%	$53.7M	$48.4M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4523	+0.022%	$30.0M	$25.1M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4524	+0.044%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4524	+0.049%	$128K	$270K	10x	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4516	−0.131%	$27K	$316K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4521	−0.023%	$606K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4519	−0.066%	$54K	$227K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4522	−0.002%	$51K	$1.7M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4527	+0.111%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4521	−0.022%	$197	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4525	+0.066%	$854K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4522	long leg	$1.8M	$3.8M	50x
Extended WLD-USDshort	+0.0104%	1h	0.4518	−0.092%	$132K	$745K	10x
Aevo WLD-PERP	+0.0104%	1h	0.4523	+0.022%	$31K	$5K	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4520	−0.055%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0188%	1h	0.4524	+0.033%	$920K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4518	−0.088%	$4.8M	$811K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0244% / S −0.2042%	1h	0.4523	+0.021%	$9K	—	100x	as long as short
01 Exchange WLDUSD	+0.0304%	1h	0.4526	+0.077%	$324	$77	5x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4530	+0.177%	$277K	$1.6M	50x	as long as short
Lighter WLD	+0.0536%	1h	0.4534	+0.274%	$5.1M	$2.0M	10x	as long as short
Hyperliquid WLD	+0.0926%	1h	0.4528	+0.137%	$47.2M	$41.7M	10x	as long as short