Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0141%/8h= −15.5% APRpaid last 24h +0.057%

Price spread now: BloFin against Coinbase International+0.135%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.135%, 7d avg +0.081%

Together, before fees−0.147%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.054% dearer against Coinbase International than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of +0.081%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International EWY-PERP-INTX	185.09	0.0112	pay 0.0014% / 1h	30m 57s	$513K	$249K	20x
Short	BloFin EWY-USDT	185.34	−0.0029	pay 0.0029% / 8h	7h 30m	$48K	$219K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$29.67
Price spread: +0.135% → +0.081%: $5.42
Slippage, 4 orders: −$10.98
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$57.23
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; BloFin: live order book, 35 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 Coinbase International live order book, 2 min ago	4.59 bp	9.6 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell BloFin live order book, 35 min ago	0.54 bp	6.5 bp −$7	7.3 bp −$73	13.2 bp −$1,318	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	−0.0509%	8h	185.28	+0.103%	$3.1M	$2.7M	20x	as long as short
BloFin EWY-USDTshort	−0.0029%	8h	185.34	+0.135%	$48K	$219K	50x
Vest EWY-USD-PERP	−0.0017%	1h	184.95	−0.076%	—	$235K	25x	as long as short
Aster EWYUSDT	0.0000%	8h	185.51	+0.229%	$287K	$14K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	185.20	+0.060%	$239K	$916K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	185.25	+0.088%	$26.8M	$82.8M	50x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	185.21	+0.065%	$4.0M	$4.6M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	185.34	+0.135%	$4.0M	$4.4M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	185.25	+0.086%	$7.6M	$4.4M	100x	as long as short
Variational Omni EWY	0.0000%	8h	185.61	+0.283%	$1.1M	$1.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT EWY_USDT_Perp	0.0000%	8h	185.65	+0.304%	$727K	$420K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	185.53	+0.238%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	185.69	+0.324%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	185.34	+0.135%	$1.6M	$36K	10x	as long as short
Lighter EWY	+0.0032%	1h	185.13	+0.022%	$375K	$40K	20x	as long as short
Bybit EWYUSDT	+0.0037%	8h	185.17	+0.043%	$4.9M	$4.8M	100x	as long as short
Popdex EWYUSDT	+0.0048%	1h	185.37	+0.151%	$194K	$164K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	185.13	+0.022%	$6.2M	$15.0M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	185.27	+0.097%	$141K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	185.17	+0.043%	$4K	$141	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	185.28	+0.103%	$742	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	185.52	+0.232%	$233K	$334K	10x	as long as short
Paradex EWY-USD-PERP	+0.0057%	8h	185.25	+0.085%	$22	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	185.35	+0.140%	$954K	$625K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	185.48	+0.211%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	185.29	+0.108%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTXlong	+0.0112%	1h	185.09	long leg	$513K	$249K	20x
Hotstuff EWY-PERP	+0.0288%	1h	185.13	+0.022%	$27K	$16K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0290%	1h	185.24	+0.081%	$3K	$15K	20x	as long as short
edgeX EWYUSDC	+0.0493%	4h	185.47	+0.207%	$416K	$286K	20x	as long as short