Funding arb · Price arb /

WLD

all WLD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0396%/8h= +43.4% APRpaid last 24h +0.063%

Price spread now: Coinbase International against SunX+0.196%7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1321.323% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.491%−$49 · spread now +0.196%, 7d avg −0.083%

Together, before fees−0.470%−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.279% dearer against SunX than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of −0.083%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.022% in total (about 1.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WLD-USDT	0.4599	0.0100	pay 0.0100% / 8h	4h 23m	$23K	$1.6M	50x
Short	Coinbase International WLD-PERP-INTX	0.4608	0.0496	get 0.0062% / 1h	23m 37s	$270K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.196%Rate

Funding earned: $83.16
Price spread: +0.196% → −0.083%: $27.9
Slippage, 4 orders: −$114.32
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$21.26
Costs to cover: 1.323%
Break-even: 8.8 days

Slippage from SunX: live order book, 12 min ago; Coinbase International: live order book, 5 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 SunX live order book, 12 min ago	29.64 bp	38.5 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	8.69 bp	24.9 bp −$25	29.4 bp −$294	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	−0.0101%	8h	0.4589	−0.217%	$39K	$4.6M	1.7x	as long as short
Nado WLD-PERP	−0.0041%	1h	0.4593	−0.130%	$243K	$205K	5x	as long as short
KuCoin WLDUSDTM	−0.0011%	8h	0.4586	−0.283%	$7.0M	$11.6M	50x	as long as short
dYdX WLD-USD	0.0000%	1h	0.4586	−0.290%	$156K	$33K	10x	as long as short
Deribit WLD_USDC-PERPETUAL	0.0000%	1h	0.4590	−0.196%	$119K	$942K	25x	as long as short
gTrade (Gains Network) WLD/USD	L +0.0003% / S −0.0003%	1h	0.4591	−0.166%	$67K	—	150x	as long as short
Injective WLD/USDC PERP	+0.0014%	1h	0.4544	−1.196%	$6K	$185K	5.5x	as long as short
Orderly PERP_WLD_USDC	+0.0093%	8h	0.4589	−0.217%	$28K	$886K	10x	as long as short
Lighter WLD	+0.0096%	1h	0.4592	−0.150%	$5.0M	$2.4M	10x	as long as short
Aster WLDUSDT	+0.0100%	8h	0.4592	−0.158%	$211K	$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	0.4588	−0.239%	$49K	$527K	5x	as long as short
Binance WLDUSDT	+0.0100%	8h	0.4586	−0.285%	$86.9M	$328.5M	75x	as long as short
Bybit WLDUSDT	+0.0100%	8h	0.4588	−0.239%	$65.3M	$89.2M	50x	as long as short
OKX WLD-USDT-SWAP	+0.0100%	8h	0.4587	−0.261%	$34.3M	$149.9M	50x	as long as short
Gate WLD_USDT	+0.0100%	8h	0.4586	−0.283%	$7.2M	$37.0M	75x	as long as short
MEXC WLD_USDT	+0.0100%	8h	0.4586	−0.283%	$44.0M	$54.3M	300x	as long as short
Bitget WLDUSDT	+0.0100%	8h	0.4589	−0.217%	$30.3M	$30.1M	75x	as long as short
BingX WLD-USDT	+0.0100%	8h	0.4589	−0.217%	—	$67.4M	—	as long as short
Backpack WLD_USDC_PERP	+0.0100%	1h	0.4592	−0.148%	$137K	$299K	10x	as long as short
Variational Omni WLD	+0.0100%	8h	0.4590	−0.203%	$2.2M	$1.7M	—	as long as short
edgeX WLDUSDC	+0.0100%	4h	0.4592	−0.147%	$27K	$318K	20x	as long as short
GRVT WLD_USDT_Perp	+0.0100%	8h	0.4596	−0.065%	$608K	$1.9M	10x	as long as short
ApeX Omni WLDUSDT	+0.0100%	1h	0.4591	−0.174%	$43K	$239K	50x	as long as short
Polymarket Perps WLD-USD	+0.0100%	1h	0.4592	−0.163%	$47K	$2.1M	10x	as long as short
SunX WLD-USDTlong	+0.0100%	8h	0.4599	long leg	$23K	$1.6M	50x
SoDEX WLD-USD	+0.0100%	1h	0.4591	−0.174%	$172	$5K	10x	as long as short
HTX WLD-USDT	+0.0100%	8h	0.4583	−0.348%	$838K	$1.8M	50x	as long as short
Phemex WLDUSDT	+0.0100%	8h	0.4592	−0.152%	$1.8M	$3.7M	50x	as long as short
Extended WLD-USD	+0.0104%	1h	0.4587	−0.255%	$221K	$981K	10x	as long as short
Aevo WLD-PERP	+0.0104%	1h	0.4590	−0.196%	$31K	$600	3x	as long as short
Reya WLDRUSDPERP	+0.0134%	1h	0.4592	−0.158%	—	—	20x	as long as short
01 Exchange WLDUSD	+0.0144%	1h	0.4595	−0.083%	$329	$80	5x	as long as short
Phoenix WLD	+0.0158%	1h	0.4598	−0.028%	$5K	$52K	10x	as long as short
BloFin WLD-USDT	+0.0220%	8h	0.4594	−0.109%	$4.8M	$835K	75x	as long as short
GMX WLD/USD [ETH-USDC]	L +0.0230% / S −0.1268%	1h	0.4591	−0.167%	$5K	—	100x	as long as short
Hyperliquid WLD	+0.0330%	1h	0.4593	−0.139%	$50.4M	$43.3M	10x	as long as short
Kraken Futures PF_WLDUSD	+0.0478%	1h	0.4594	−0.102%	$889K	$2.8M	50x	as long as short
Coinbase International WLD-PERP-INTXshort	+0.0496%	1h	0.4608	+0.196%	$270K	$1.7M	50x