Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0076%/8h= +8.4% APRpaid last 24h +0.026%

Price spread now: Injective against Phemex+0.917%65s7-day average +0.206% · you sell dearer than you buy

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.899%−$90 · spread now +0.917%, 7d avg +0.206%

Together, before fees−0.969%−$97 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.711% dearer against Phemex than usual: you sell high and buy low: +$71 more if the spread goes back to its 7-day average of +0.206%. Mind the row above: over the last 7 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour. The two prices were read 65 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	0.4472	0.0100	pay 0.0100% / 8h	2h 27m	$1.8M	$3.7M	50x
Short	Injective WLD/USDC PERP	0.4513	0.0176	get 0.0022% / 1h	27m 34s	$6K	$185K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.917%Rate

Funding earned: $16.05
Price spread: +0.917% → +0.206%: $71.11
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $75.14
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 1 min ago; Injective: live order book, 51 min ago. 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, 1 min ago	5.59 bp	45.6 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 51 min ago	71.00 bp	doesn't fit	doesn't fit	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	−0.0050%	1h	0.4471	−0.011%	$240K	$207K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4473	+0.017%	$153K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4477	+0.112%	$68K	$4.9M	1.7x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4471	−0.022%	$143K	$1.0M	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4469	−0.072%	$65K	—	150x	as long as short
Polymarket Perps WLD-USD	+0.0040%	1h	0.4469	−0.078%	$39K	$2.4M	10x	as long as short
KuCoin WLDUSDTM	+0.0042%	8h	0.4470	−0.045%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0056%	1h	0.4470	−0.045%	$320	$55	5x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4469	−0.067%	$28K	$811K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4478	+0.129%	$223K	$1.1M	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	0.4473	+0.015%	$50K	$542K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4473	+0.022%	$85.3M	$338.9M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4470	−0.045%	$63.6M	$91.9M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4473	+0.022%	$33.7M	$152.4M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4472	0.000%	$7.3M	$37.2M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4472	0.000%	$38.5M	$55.8M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4470	−0.045%	$29.4M	$30.9M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4472	0.000%	—	$70.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4475	+0.076%	$133K	$305K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4489	+0.376%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4489	+0.390%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4483	+0.246%	$592K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4492	+0.447%	$48K	$240K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4476	+0.089%	$22K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4470	−0.045%	$201	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4469	−0.067%	$818K	$1.7M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4472	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4469	−0.073%	$219K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4471	−0.033%	$30K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4468	−0.082%	—	—	20x	as long as short
Phoenix WLD	+0.0142%	1h	0.4490	+0.400%	$5K	$52K	10x	as long as short
Lighter WLD	+0.0144%	1h	0.4477	+0.114%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERPshort	+0.0176%	1h	0.4513	+0.917%	$6K	$185K	5.5x
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4467	−0.114%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4490	+0.403%	$4.8M	$920K	75x	as long as short
Hyperliquid WLD	+0.0283%	1h	0.4475	+0.063%	$48.4M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0507%	1h	0.4474	+0.047%	$853K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4476	+0.089%	$273K	$1.6M	50x	as long as short