Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.020%

Price spread now: Phoenix against Phemex+0.399%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.399% dearer against Phemex than usual: you sell high and buy low: +$40 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.117%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex WLDUSDT	0.4491	0.0100	pay 0.0100% / 8h	2h 30m	$1.8M	$3.7M	50x
Short	Phoenix WLD	0.4509	0.0142	get 0.0018% / 1h	30m 36s	$5K	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.399%Rate

Funding earned: $8.9
Price spread: +0.399% → 0.000%: $39.86
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $29.75
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Phemex: live order book, 3 min ago; Phoenix: 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, 3 min ago	4.45 bp	38.2 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0052%	1h	0.4491	+0.011%	$241K	$208K	5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4489	−0.049%	$153K	$33K	10x	as long as short
Kalshi KXWLDPERP	0.0000%	8h	0.4489	−0.045%	$69K	$4.9M	1.7x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4490	−0.012%	$65K	—	150x	as long as short
Polymarket Perps WLD-USD	+0.0040%	1h	0.4488	−0.060%	$39K	$2.4M	10x	as long as short
KuCoin WLDUSDTM	+0.0045%	8h	0.4486	−0.111%	$6.7M	$11.9M	50x	as long as short
01 Exchange WLDUSD	+0.0064%	1h	0.4491	−0.011%	$321	$55	5x	as long as short
Orderly PERP_WLD_USDC	+0.0098%	8h	0.4492	+0.022%	$28K	$818K	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4493	+0.048%	$224K	$1.1M	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4489	−0.043%	$50K	$541K	5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WLDUSDT	+0.0100%	8h	0.4491	0.000%	$85.5M	$339.2M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4487	−0.089%	$63.8M	$92.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4488	−0.067%	$33.8M	$153.1M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4488	−0.067%	$7.3M	$37.2M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4489	−0.045%	$38.5M	$55.7M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4487	−0.089%	$29.5M	$31.0M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4488	−0.067%	—	$70.1M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4492	+0.020%	$133K	$305K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4489	−0.049%	$2.0M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4489	−0.039%	$27K	$321K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4497	+0.128%	$597K	$2.0M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4488	−0.067%	$48K	$241K	50x	as long as short
SunX WLD-USDT	+0.0100%	8h	0.4498	+0.156%	$23K	$1.6M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4491	0.000%	$205	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4483	−0.178%	$820K	$1.7M	50x	as long as short
Phemex WLDUSDTlong	+0.0100%	8h	0.4491	long leg	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4486	−0.116%	$220K	$999K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4491	+0.011%	$30K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4489	−0.049%	—	—	20x	as long as short
Phoenix WLDshort	+0.0142%	1h	0.4509	+0.399%	$5K	$52K	10x
Lighter WLD	+0.0144%	1h	0.4493	+0.045%	$4.9M	$2.9M	10x	as long as short
Injective WLD/USDC PERP	+0.0176%	1h	0.4513	+0.490%	$6K	$185K	5.5x	as long as short
Deribit WLD_USDC-PERPETUAL	+0.0195%	1h	0.4493	+0.045%	$143K	$1.0M	25x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0219% / S −0.0967%	1h	0.4491	−0.011%	$4K	—	100x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4495	+0.089%	$4.8M	$921K	75x	as long as short
Hyperliquid WLD	+0.0297%	1h	0.4495	+0.082%	$48.6M	$44.2M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0504%	1h	0.4492	+0.030%	$857K	$2.9M	50x	as long as short
Coinbase International WLD-PERP-INTX	+0.0536%	1h	0.4493	+0.045%	$274K	$1.7M	50x	as long as short