Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1168%/8h= +127.9% APRpaid last 24h +0.320%

Price spread now: GMX against Phemex−0.338%52s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.338% cheaper against Phemex than usual: you would sell low and buy high (spread −0.338% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$34 on $10k: about 23 hours of funding at the current rate (+$35 a day). 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	0.4549	0.0100	pay 0.0100% / 8h	3h 19m	$1.8M	$3.6M	50x
Short	GMX WLD/USD [ETH-USDC]	0.4534	L +0.0229% / S −0.1268%	get 0.0159% / 1h	19m 23s	$5K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.338%Rate

Funding earned: $245.3
Price spread: −0.338% → 0.000%: −$33.83
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $187.47
Costs to cover: 0.240%
Break-even: 1.7 days

Slippage unknown: Phemex: live order book, 4 min ago; GMX: no order-book sample. Net counts fees only.

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, 4 min ago	14.32 bp	54.2 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0026%	1h	0.4536	−0.275%	$240K	$205K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4541	−0.172%	$155K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4552	+0.066%	$75K	$4.7M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4535	−0.309%	$65K	—	150x	as long as short
KuCoin WLDUSDTM	+0.0030%	8h	0.4536	−0.286%	$6.8M	$11.7M	50x	as long as short
Orderly PERP_WLD_USDC	+0.0100%	8h	0.4534	−0.330%	$28K	$868K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4536	−0.291%	$212K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4538	−0.242%	$51K	$526K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4534	−0.330%	$86.4M	$330.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4534	−0.330%	$64.5M	$90.1M	50x	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	+0.0100%	8h	0.4534	−0.330%	$34.2M	$151.0M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4534	−0.330%	$7.2M	$36.7M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4534	−0.330%	$40.1M	$55.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4533	−0.352%	$29.9M	$30.2M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4534	−0.330%	—	$67.8M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4546	−0.062%	$135K	$304K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4540	−0.204%	$2.1M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4538	−0.252%	$27K	$320K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4541	−0.176%	$598K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4544	−0.110%	$43K	$238K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4534	−0.321%	$39K	$2.1M	10x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4556	+0.154%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4550	+0.022%	$203	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4544	−0.110%	$831K	$1.8M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4549	long leg	$1.8M	$3.6M	50x
Extended WLD-USD	+0.0104%	1h	0.4533	−0.341%	$216K	$984K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4534	−0.335%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4534	−0.335%	—	—	20x	as long as short
Injective WLD/USDC PERP	+0.0142%	1h	0.4576	+0.594%	$6K	$185K	5.5x	as long as short
Phoenix WLD	+0.0157%	1h	0.4526	−0.506%	$5K	$52K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0189%	1h	0.4553	+0.088%	$122K	$981K	25x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4537	−0.264%	$4.9M	$881K	75x	as long as short
GMX WLD/USD [ETH-USDC]short	L +0.0229% / S −0.1268%	1h	0.4534	−0.338%	$5K	—	100x
01 Exchange WLDUSD	+0.0288%	1h	0.4541	−0.182%	$325	$55	5x	as long as short
Hyperliquid WLD	+0.0354%	1h	0.4541	−0.174%	$49.7M	$43.5M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0521%	1h	0.4554	+0.107%	$883K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0560%	1h	0.4554	+0.110%	$267K	$1.6M	50x	as long as short
Lighter WLD	+0.0824%	1h	0.4547	−0.040%	$5.2M	$2.6M	10x	as long as short