Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0332%/8h= +36.3% APRpaid last 24h +0.016%

Price spread now: Deribit against Bitget−0.170%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 0.170% cheaper against Bitget than usual: you would sell low and buy high (spread −0.170% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 41 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EWYUSDT	187.83	−0.0155	get 0.0155% / 8h	2h 14m	$2.6M	$2.3M	20x
Short	Deribit EWY_USDC-PERPETUAL	187.51	0.0177	get 0.0022% / 1h	14m 55s	$2K	$14K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.170%Rate

Funding earned: $69.68
Price spread: −0.170% → 0.000%: −$17.04
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $33.65
Costs to cover: 0.190%
Break-even: 3.6 days

Slippage unknown: Bitget: live order book, 2 min ago; Deribit: 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 Bitget live order book, 2 min ago	0.80 bp	9.9 bp −$10	14.7 bp −$147	31.9 bp −$3,189	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

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
Hotstuff EWY-PERP	−0.0424%	1h	187.47	−0.192%	$28K	$12K	20x	as long as short
Bitget EWYUSDTlong	−0.0155%	8h	187.83	long leg	$2.6M	$2.3M	20x
BloFin EWY-USDT	−0.0028%	8h	187.75	−0.043%	$48K	$216K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	187.74	−0.048%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.68	−0.080%	$240K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.75	−0.043%	$27.3M	$80.7M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.81	−0.011%	$4.9M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.68	−0.080%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.79	−0.021%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.78	−0.027%	$8.9M	$4.2M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWY	0.0000%	8h	187.52	−0.163%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	187.93	+0.051%	$743K	$426K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	187.62	−0.112%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.83	0.000%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.75	−0.043%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	187.50	−0.176%	$380K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	187.55	−0.149%	$522K	$278K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	187.30	−0.282%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.59	−0.128%	$197K	$149K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.64	−0.101%	$6.3M	$14.5M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.60	−0.122%	$125K	$111K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.40	−0.229%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.56	−0.144%	$731	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.56	−0.144%	$214K	$316K	10x	as long as short
Paradex EWY-USD-PERP	+0.0055%	8h	187.55	−0.148%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.57	−0.138%	$966K	$599K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.56	−0.144%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.62	−0.112%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0144%	4h	187.75	−0.042%	$421K	$285K	20x	as long as short
Deribit EWY_USDC-PERPETUALshort	+0.0177%	1h	187.51	−0.170%	$2K	$14K	20x