Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Polymarket Perps−0.063%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$910.910% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.218%+$22 · spread now −0.063%, 7d avg −0.013%

Together, before fees+0.298%+$30 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: Phemex is 0.050% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps WLD-USD	0.4588	0.0100	pay 0.0013% / 1h	7m 42s	$41K	$1.6M	10x
Short	Phemex WLDUSDT	0.4585	0.0100	get 0.0100% / 8h	1h 07m	$1.8M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → −0.013%: −$5.02
Slippage, 4 orders: −$70.98
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$96.01
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Phemex: live order book, 6 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 Polymarket Perps live order book, 1 min ago	2.72 bp	6.7 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	3.29 bp	34.9 bp −$35	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
Kalshi KXWLDPERP	−0.0285%	8h	0.4586	−0.041%	$61K	$3.8M	1.7x	as long as short
Injective WLD/USDC PERP	−0.0079%	1h	0.4578	−0.216%	$6K	$185K	5.5x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4584	−0.088%	$164K	$13K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4586	−0.041%	$109K	$900K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4586	−0.039%	$57K	—	150x	as long as short
Orderly PERP_WLD_USDC	+0.0006%	8h	0.4585	−0.063%	$28K	$912K	10x	as long as short
KuCoin WLDUSDTM	+0.0010%	8h	0.4583	−0.107%	$7.0M	$10.8M	50x	as long as short
Nado WLD-PERP	+0.0045%	1h	0.4583	−0.096%	$276K	$169K	5x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4585	−0.055%	$195K	$999K	50x	as long as short
Pacifica WLD	+0.0100%	1h	0.4590	+0.050%	$53K	$481K	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	0.4583	−0.113%	$86.6M	$297.1M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4579	−0.194%	$65.5M	$82.0M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4584	−0.085%	$34.3M	$141.6M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4585	−0.063%	$7.5M	$35.4M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4586	−0.041%	$49.3M	$52.2M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4584	−0.085%	$30.3M	$25.5M	75x	as long as short
BingX WLD-USDC	+0.0100%	8h	0.4586	−0.041%	—	$1.3M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4587	−0.020%	$129K	$269K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4571	−0.371%	$2.1M	$1.6M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4572	−0.357%	$27K	$315K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4572	−0.347%	$614K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4565	−0.499%	$55K	$227K	50x	as long as short
Polymarket Perps WLD-USDlong	+0.0100%	1h	0.4588	long leg	$41K	$1.6M	10x
SunX WLD-USDT	+0.0100%	8h	0.4593	+0.111%	$23K	$1.5M	50x	as long as short
SoDEX WLD-USD	+0.0100%	1h	0.4586	−0.041%	$204	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4588	+0.002%	$866K	$1.8M	50x	as long as short
Phemex WLDUSDTshort	+0.0100%	8h	0.4585	−0.063%	$1.8M	$3.7M	50x
Extended WLD-USD	+0.0104%	1h	0.4585	−0.073%	$240K	$855K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4588	+0.002%	$31K	$5K	3x	as long as short
Phoenix WLD	+0.0124%	1h	0.4583	−0.102%	$5K	$53K	10x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4584	−0.088%	—	—	20x	as long as short
Kraken Futures PF_WLDUSD	+0.0186%	1h	0.4588	+0.007%	$916K	$2.6M	50x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4594	+0.133%	$4.9M	$817K	75x	as long as short
01 Exchange WLDUSD	+0.0248%	1h	0.4591	+0.072%	$328	$77	5x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0260% / S −0.2221%	1h	0.4585	−0.067%	$9K	—	100x	as long as short
Coinbase International WLD-PERP-INTX	+0.0424%	1h	0.4594	+0.133%	$271K	$1.6M	50x	as long as short
Hyperliquid WLD	+0.0678%	1h	0.4589	+0.033%	$49.9M	$43.0M	10x	as long as short
Lighter WLD	+0.1008%	1h	0.4593	+0.120%	$5.2M	$2.1M	10x	as long as short