Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.004%

Price spread now: OKX against ApeX Omni+0.042%90s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$940.936% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.042%, 7d avg +0.012%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.031% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.012%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.104% in total) that is about 2.1 days. The two prices were read 90 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	ApeX Omni EWYUSDT	188.41	0.0100	pay 0.0013% / 1h	2m 09s	$13K	$265K	50x
Short	OKX EWY-USDT-SWAP	188.49	0	get 0.0000% / 8h	2h 02m	$4.1M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$21
Price spread: +0.042% → +0.012%: $3.08
Slippage, 4 orders: −$73.56
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$111.48
Costs to cover: 0.936%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 45 min ago; OKX: 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 ApeX Omni live order book, 45 min ago	28.31 bp	39.3 bp −$39	209.3 bp −$2,093	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.26 bp	8.4 bp −$8	11.7 bp −$117	doesn't fit	doesn't fit

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 EWYUSDT	−0.0117%	8h	188.54	+0.069%	$2.7M	$2.3M	20x	as long as short
Aster EWYUSDT	0.0000%	8h	188.48	+0.037%	$292K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.46	+0.027%	$241K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.50	+0.049%	$27.4M	$81.4M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.55	+0.074%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAPshort	0.0000%	8h	188.49	+0.042%	$4.1M	$4.3M	50x
Gate EWY_USDT	0.0000%	8h	188.53	+0.064%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.49	+0.042%	$8.9M	$4.2M	100x	as long as short
Variational Omni EWY	0.0000%	8h	188.57	+0.086%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.57	+0.085%	$746K	$423K	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	188.54	+0.069%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	188.45	+0.021%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.45	+0.021%	$1.7M	$37K	10x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0015%	1h	188.48	+0.037%	$2K	$14K	20x	as long as short
BloFin EWY-USDT	+0.0018%	8h	188.42	+0.005%	$47K	$216K	50x	as long as short
Lighter EWY	+0.0032%	1h	188.36	−0.027%	$382K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	188.39	−0.011%	$523K	$278K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.35	−0.032%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.53	+0.064%	$198K	$151K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.42	+0.005%	$6.3M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.37	−0.021%	$126K	$111K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	188.31	−0.053%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.43	+0.011%	$745	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.37	−0.021%	$216K	$319K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	188.51	+0.055%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.21	−0.106%	$969K	$598K	20x	as long as short
ApeX Omni EWYUSDTlong	+0.0100%	1h	188.41	long leg	$13K	$265K	50x
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.50	+0.048%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0512%	1h	188.34	−0.037%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0532%	4h	188.47	+0.033%	$423K	$285K	20x	as long as short