Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.021%

Price spread now: GRVT against Deribit+0.106%75s7-day average — · you sell dearer than you buy

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

Long on Deribit Short on GRVT

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 airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.106% dearer against Deribit than usual: you sell high and buy low (spread +0.106% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 31 hours. The two prices were read 75 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	Deribit EWY_USDC-PERPETUAL	190.33	0.0276	pay 0.0034% / 1h	12m 17s	$2K	$13K	20x
Short	GRVT EWY_USDT_Perp	190.53	0	get 0.0000% / 8h	5h 12m	$753K	$392K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$57.89
Price spread: +0.106% → 0.000%: $10.64
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$63.25
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; GRVT: live order book, 51 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell GRVT live order book, 51 min ago	1.58 bp	7.8 bp −$8	11.8 bp −$118	doesn't fit	doesn't fit

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	−0.0248%	1h	190.41	+0.042%	$29K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.49	+0.084%	$5.1M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.43	+0.053%	$4.1M	$3.7M	50x	as long as short
GRVT EWY_USDT_Perpshort	0.0000%	8h	190.53	+0.106%	$753K	$392K	10x
SunX EWY-USDT	0.0000%	8h	190.26	−0.037%	—	$2.5M	20x	as long as short
Coinbase International EWY-PERP-INTX	0.0000%	1h	190.49	+0.084%	$531K	$315K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.54	+0.110%	$22K	$36K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.42	+0.047%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.22	−0.058%	$386K	$39K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.55	+0.116%	—	$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	190.45	+0.063%	$198K	$146K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.36	+0.016%	$6.1M	$13.9M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.27	−0.032%	$51K	$56K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.26	−0.037%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.43	+0.053%	$748	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.33	0.000%	$201K	$268K	10x	as long as short
Paradex EWY-USD-PERP	+0.0056%	8h	190.39	+0.032%	$23	—	5x	as long as short
Bitget EWYUSDT	+0.0074%	8h	190.43	+0.053%	$2.7M	$2.0M	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.36	+0.016%	$981K	$628K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.55	+0.116%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.39	+0.032%	$2K	$1K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0103%	8h	190.44	+0.058%	$4.1M	$3.5M	50x	as long as short
Aster EWYUSDT	+0.0169%	8h	190.36	+0.015%	$295K	$12K	20x	as long as short
Variational Omni EWY	+0.0213%	8h	190.46	+0.067%	$1.2M	$1.1M	—	as long as short
Extended EWY_24_5-USD	+0.0240%	1h	190.35	+0.012%	$302K	$665K	10x	as long as short
BloFin EWY-USDT	+0.0241%	8h	190.54	+0.110%	$48K	$214K	50x	as long as short
Binance EWYUSDT	+0.0243%	8h	190.40	+0.035%	$28.4M	$76.8M	50x	as long as short
MEXC EWY_USDT	+0.0243%	8h	190.41	+0.042%	$6.5M	$4.2M	100x	as long as short
Deribit EWY_USDC-PERPETUALlong	+0.0276%	1h	190.33	long leg	$2K	$13K	20x
edgeX EWYUSDC	+0.0574%	4h	190.45	+0.065%	$427K	$284K	20x	as long as short