Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.013%
Price spread now: Phemex against Coinbase International−0.101%7-day average +0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$115as in the Funding arb table
Net, price: spread back to 7d avg − costs−$118as in the Price arb table
costs, in and out, $10k−$990.993% of the position
Funding, last 7 days−0.159%−$16 on $10k
+Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.101%, 7d avg +0.083%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.184% cheaper against Coinbase International than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.083%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International EWY-PERP-INTX | 188.04 | 0.0040 | pay 0.0005% / 1h | 28m 52s | $523K | $278K | 20x |
| Short | Phemex EWYUSDT | 187.85 | 0 | get 0.0000% / 8h | 2h 28m | $1.7M | $37K | 10x |
Coinbase International EWY-PERP-INTX
Phemex EWYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.4
- Price spread: −0.101% → +0.083%
- −$18.45
- Slippage, 4 orders
- −$77.25
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$126.1
- Costs to cover
- 0.993%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 19 min ago; Phemex: live order book, 4 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, 19 min ago | 3.97 bp | 9.0 bp −$9 | 12.4 bp −$124 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.93 bp | 37.2 bp −$37 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff EWY-PERP | −0.0040% | 1h | 187.75 | −0.154% | $28K | $12K | 20x | as long as short |
| Aster EWYUSDT | 0.0000% | 8h | 187.62 | −0.224% | $291K | $12K | 20x | as long as short |
| Extended EWY_24_5-USD | 0.0000% | 1h | 187.60 | −0.231% | $230K | $491K | 10x | as long as short |
| Binance EWYUSDT | 0.0000% | 8h | 187.61 | −0.228% | $27.2M | $79.4M | 50x | as long as short |
| Bybit EWYUSDT | 0.0000% | 8h | 187.62 | −0.223% | $5.0M | $4.5M | 100x | as long as short |
| OKX EWY-USDT-SWAP | 0.0000% | 8h | 187.51 | −0.282% | $4.1M | $4.2M | 50x | as long as short |
| Gate EWY_USDT | 0.0000% | 8h | 187.74 | −0.160% | $4.1M | $4.1M | 50x | as long as short |
| MEXC EWY_USDT | 0.0000% | 8h | 187.69 | −0.186% | $6.7M | $3.9M | 100x | as long as short |
| Bitget EWYUSDT | 0.0000% | 8h | 187.72 | −0.170% | $2.7M | $2.3M | 20x | as long as short |
| Variational Omni EWY | 0.0000% | 8h | 187.79 | −0.135% | $1.2M | $1.1M | — | as long as short |
Hotstuff EWY-PERP
Aster EWYUSDT
Extended EWY_24_5-USD
Binance EWYUSDT
Bybit EWYUSDT
OKX EWY-USDT-SWAP
Gate EWY_USDT
MEXC EWY_USDT
Bitget EWYUSDT
Variational Omni EWYShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT EWY_USDT_Perp | 0.0000% | 8h | 187.79 | −0.133% | $742K | $414K | 10x | as long as short |
| SunX EWY-USDT | 0.0000% | 8h | 187.78 | −0.138% | — | $2.5M | 20x | as long as short |
| Deribit EWY_USDC-PERPETUAL | 0.0000% | 1h | 187.86 | −0.096% | $2K | $14K | 20x | as long as short |
| HTX EWY-USDT | 0.0000% | 8h | 187.85 | −0.101% | $22K | $35K | 20x | as long as short |
| Phemex EWYUSDTshort | 0.0000% | 8h | 187.85 | −0.101% | $1.7M | $37K | 10x | |
| BloFin EWY-USDT | 0.0000% | 8h | 187.86 | −0.096% | $48K | $215K | 50x | as long as short |
| Lighter EWY | +0.0032% | 1h | 187.76 | −0.149% | $381K | $40K | 20x | as long as short |
| Coinbase International EWY-PERP-INTXlong | +0.0040% | 1h | 188.04 | long leg | $523K | $278K | 20x | |
| Vest EWY-USD-PERP | +0.0046% | 1h | 187.58 | −0.245% | — | $220K | 25x | as long as short |
| Popdex EWYUSDT | +0.0048% | 1h | 187.89 | −0.080% | $196K | $148K | 20x | as long as short |
| tradeXYZ xyz:EWY | +0.0050% | 1h | 187.75 | −0.154% | $6.1M | $14.3M | 20x | as long as short |
| Entropy io:EWY | +0.0050% | 1h | 187.75 | −0.154% | $87K | $93K | 25x | as long as short |
| Polymarket Perps EWY-USD | +0.0050% | 1h | 187.69 | −0.186% | $4K | $126 | 20x | as long as short |
| SoDEX EWY-USD | +0.0050% | 1h | 187.82 | −0.117% | $734 | $4K | 10x | as long as short |
| Ondo Perps EWY-USD.P | +0.0050% | 1h | 187.81 | −0.122% | $214K | $316K | 10x | as long as short |
| Paradex EWY-USD-PERP | +0.0053% | 8h | 187.88 | −0.087% | $23 | — | 5x | as long as short |
| KuCoin EWYUSDTM | +0.0100% | 8h | 187.75 | −0.154% | $967K | $604K | 20x | as long as short |
| ApeX Omni EWYUSDT | +0.0100% | 1h | 187.46 | −0.308% | $13K | $265K | 50x | as long as short |
| Orderly PERP_EWY_USDC_mythos | +0.0100% | 8h | 187.92 | −0.064% | $2K | $1K | 20x | as long as short |
| edgeX EWYUSDC | +0.0103% | 4h | 187.56 | −0.256% | $421K | $285K | 20x | as long as short |
GRVT EWY_USDT_Perp
SunX EWY-USDT
Deribit EWY_USDC-PERPETUAL
HTX EWY-USDT
BloFin EWY-USDT
Lighter EWY
Vest EWY-USD-PERP
Popdex EWYUSDT
tradeXYZ xyz:EWY
Entropy io:EWY
Polymarket Perps EWY-USD
SoDEX EWY-USD
Ondo Perps EWY-USD.P
Paradex EWY-USD-PERP
KuCoin EWYUSDTM
ApeX Omni EWYUSDT
Orderly PERP_EWY_USDC_mythos
edgeX EWYUSDC