Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0672%/8h= −73.6% APRpaid last 24h −0.069%

Price spread now: Bitget against ApeX Omni−0.016%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$910.915% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.218%−$22 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.016%, 7d avg +0.023%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Bitget is 0.040% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.218% in total (about -11.4% 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	ApeX Omni EWYUSDT	185.99	0.0100	pay 0.0013% / 1h	47m 08s	$13K	$264K	50x
Short	Bitget EWYUSDT	185.96	−0.0572	pay 0.0572% / 8h	7h 47m	$3.1M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX Omni. 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$141.12
Price spread: −0.016% → +0.023%: −$3.96
Slippage, 4 orders: −$69.49
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$236.57
Costs to cover: 0.915%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 50 min ago; Bitget: live order book, just now.

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 ApeX Omni live order book, 50 min ago	26.47 bp	37.0 bp −$37	211.8 bp −$2,118	doesn't fit	doesn't fit
Sell Bitget live order book, just now	0.81 bp	9.9 bp −$10	13.2 bp −$132	32.3 bp −$3,234	70.3 bp −$35.2K

EWY on 30 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
Bitget EWYUSDTshort	−0.0572%	8h	185.96	−0.016%	$3.1M	$2.6M	20x
Vest EWY-USD-PERP	−0.0026%	1h	185.71	−0.151%	—	$235K	25x	as long as short
Aster EWYUSDT	0.0000%	8h	186.06	+0.040%	$288K	$13K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	185.93	−0.030%	$240K	$916K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	185.96	−0.014%	$26.9M	$82.5M	50x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	185.96	−0.016%	$4.1M	$4.6M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	186.05	+0.032%	$4.1M	$4.4M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	185.96	−0.016%	$7.8M	$4.4M	100x	as long as short
Variational Omni EWY	0.0000%	8h	185.98	−0.003%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	186.12	+0.072%	$729K	$424K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWY-USDT	0.0000%	8h	186.10	+0.059%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	186.11	+0.065%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	185.98	−0.005%	$1.6M	$36K	10x	as long as short
BloFin EWY-USDT	+0.0013%	8h	186.00	+0.005%	$48K	$218K	50x	as long as short
Lighter EWY	+0.0032%	1h	185.78	−0.113%	$377K	$40K	20x	as long as short
Popdex EWYUSDT	+0.0048%	1h	186.00	+0.005%	$197K	$153K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	185.74	−0.134%	$6.3M	$14.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	185.93	−0.032%	$141K	$120K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	185.77	−0.118%	$4K	$141	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	185.94	−0.027%	$742	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	185.95	−0.022%	$234K	$335K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	185.93	−0.035%	$22	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	185.90	−0.048%	$957K	$616K	20x	as long as short
ApeX Omni EWYUSDTlong	+0.0100%	1h	185.99	long leg	$13K	$264K	50x
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	186.00	+0.005%	$2K	$1K	20x	as long as short
Bybit EWYUSDT	+0.0101%	8h	186.01	+0.011%	$4.9M	$4.8M	100x	as long as short
Coinbase International EWY-PERP-INTX	+0.0112%	1h	185.78	−0.113%	$516K	$250K	20x	as long as short
edgeX EWYUSDC	+0.0122%	4h	186.01	+0.008%	$417K	$286K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0181%	1h	185.91	−0.043%	$3K	$15K	20x	as long as short
Hotstuff EWY-PERP	+0.0304%	1h	185.95	−0.022%	$28K	$15K	20x	as long as short