Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0373%/8h= +40.8% APRpaid last 24h −0.547%

Price spread now: Hotstuff against Bitget−0.032%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 Hotstuff

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.032% cheaper against Bitget than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EWYUSDT	190.31	0.0051	pay 0.0051% / 8h	4h 48m	$2.7M	$1.9M	20x
Short	Hotstuff EWY-PERP	190.25	0.0424	get 0.0053% / 1h	48m 39s	$29K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.032%Rate

Funding earned: $78.33
Price spread: −0.032% → 0.000%: −$3.15
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $58.18
Costs to cover: 0.170%
Break-even: 1.8 days

Slippage unknown: Bitget: live order book, 4 min ago; Hotstuff: 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, 4 min ago	1.05 bp	10.0 bp −$10	14.0 bp −$140	26.6 bp −$2,664	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Bybit EWYUSDT	0.0000%	8h	190.37	+0.032%	$5.1M	$4.2M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.39	+0.042%	$4.2M	$3.8M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.45	+0.073%	$753K	$393K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.31	0.000%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	190.30	−0.005%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.44	+0.068%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.34	+0.016%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.27	−0.021%	$386K	$39K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	190.39	+0.042%	$531K	$309K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.47	+0.084%	—	$220K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex EWYUSDT	+0.0048%	1h	190.31	0.000%	$198K	$146K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.26	−0.026%	$6.1M	$13.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.30	−0.005%	$46K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.12	−0.100%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.31	0.000%	$748	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.15	−0.084%	$201K	$267K	10x	as long as short
Bitget EWYUSDTlong	+0.0051%	8h	190.31	long leg	$2.7M	$1.9M	20x
Paradex EWY-USD-PERP	+0.0054%	8h	190.34	+0.016%	$23	—	5x	as long as short
OKX EWY-USDT-SWAP	+0.0075%	8h	190.33	+0.011%	$4.1M	$3.3M	50x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.33	+0.011%	$980K	$620K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.40	+0.047%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.34	+0.016%	$2K	$1K	20x	as long as short
Aster EWYUSDT	+0.0108%	8h	190.40	+0.045%	$295K	$12K	20x	as long as short
Variational Omni EWY	+0.0150%	8h	190.36	+0.027%	$1.2M	$1.1M	—	as long as short
edgeX EWYUSDC	+0.0166%	4h	190.43	+0.061%	$427K	$283K	20x	as long as short
Binance EWYUSDT	+0.0183%	8h	190.33	+0.013%	$28.4M	$76.6M	50x	as long as short
Extended EWY_24_5-USD	+0.0184%	1h	190.27	−0.020%	$304K	$663K	10x	as long as short
MEXC EWY_USDT	+0.0186%	8h	190.32	+0.005%	$6.5M	$3.9M	100x	as long as short
BloFin EWY-USDT	+0.0209%	8h	190.31	0.000%	$48K	$214K	50x	as long as short
Hotstuff EWY-PERPshort	+0.0424%	1h	190.25	−0.032%	$29K	$12K	20x