Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.003%

Price spread now: KuCoin against Coinbase International0.000%51s7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$269as 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−$2782.780% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now 0.000%, 7d avg +0.025%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and KuCoin is 0.025% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.025%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.091%, so the current rate has only just turned against you. The two prices were read 51 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	Coinbase International EWY-PERP-INTX	188.95	0.0120	pay 0.0015% / 1h	46m 24s	$525K	$330K	20x
Short	KuCoin EWYUSDTM	188.95	0.0100	get 0.0100% / 8h	1h 46m	$958K	$725K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$4.2
Price spread: 0.000% → +0.025%: −$2.53
Slippage, 4 orders: −$256.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$284.76
Costs to cover: 2.780%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 37 min ago; KuCoin: live order book, 28 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, 37 min ago	0.26 bp	7.9 bp −$8	14.2 bp −$142	doesn't fit	doesn't fit
Sell KuCoin live order book, 28 min ago	3.97 bp	146.8 bp −$147	doesn't fit	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
Bybit EWYUSDT	0.0000%	8h	189.12	+0.090%	$5.2M	$4.1M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	189.01	+0.032%	$3.2M	$2.8M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	188.65	−0.159%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.01	+0.032%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.91	−0.021%	$376K	$95K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.03	+0.042%	—	$217K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.02	+0.037%	$194K	$138K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.95	0.000%	$6.4M	$14.9M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.93	−0.011%	$49K	$36K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	188.84	−0.058%	$4K	$38	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX EWY-USD	+0.0050%	1h	188.99	+0.021%	$778	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.97	+0.011%	$221K	$181K	10x	as long as short
KuCoin EWYUSDTMshort	+0.0100%	8h	188.95	0.000%	$958K	$725K	20x
ApeX Omni EWYUSDT	+0.0100%	1h	189.16	+0.111%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.00	+0.026%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERP	+0.0119%	8h	189.17	+0.116%	$23	—	5x	as long as short
Coinbase International EWY-PERP-INTXlong	+0.0120%	1h	188.95	long leg	$525K	$330K	20x
Hotstuff EWY-PERP	+0.0128%	1h	189.02	+0.037%	$28K	$12K	20x	as long as short
HTX EWY-USDT	+0.0132%	8h	189.10	+0.079%	$36K	$8K	20x	as long as short
Bitget EWYUSDT	+0.0134%	8h	189.04	+0.048%	$2.5M	$1.4M	20x	as long as short
OKX EWY-USDT-SWAP	+0.0192%	8h	189.07	+0.064%	$4.0M	$4.0M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0279%	1h	189.01	+0.032%	$2K	$13K	20x	as long as short
Aster EWYUSDT	+0.0383%	8h	188.86	−0.048%	$293K	$12K	20x	as long as short
Variational Omni EWY	+0.0411%	8h	189.03	+0.042%	$1.4M	$899K	—	as long as short
Extended EWY_24_5-USD	+0.0472%	1h	189.00	+0.025%	$304K	$410K	10x	as long as short
MEXC EWY_USDT	+0.0472%	8h	189.02	+0.037%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0478%	8h	189.01	+0.032%	$28.4M	$79.6M	50x	as long as short
BloFin EWY-USDT	+0.0479%	8h	189.03	+0.042%	$47K	$214K	50x	as long as short
GRVT EWY_USDT_Perp	+0.0571%	8h	189.06	+0.056%	$748K	$401K	10x	as long as short
edgeX EWYUSDC	+0.0779%	4h	189.05	+0.054%	$423K	$274K	20x	as long as short