Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0128%/8h= +14.1% APRpaid last 24h −0.037%

Price spread now: Variational Omni against Deribit−0.089%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.089% cheaper against Deribit than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.3 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit EWY_USDC-PERPETUAL	189.28	0.0384	pay 0.0048% / 1h	27m 00s	$2K	$13K	20x
Short	Variational Omni EWY	189.11	0.0513	get 0.0513% / 8h	1h 27m	$1.4M	$899K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.089%Rate

Funding earned: $26.96
Price spread: −0.089% → 0.000%: −$8.91
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.06
Costs to cover: 0.070%
Break-even: 4.1 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	2.22 bp	doesn't fit	3.8 bp −$38	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	−0.0024%	1h	189.22	−0.032%	$28K	$12K	20x	as long as short
Gate EWY_USDT	0.0000%	8h	189.26	−0.011%	$3.2M	$2.8M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	188.97	−0.164%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.28	0.000%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.15	−0.069%	$377K	$95K	20x	as long as short
Bybit EWYUSDT	+0.0040%	8h	189.41	+0.069%	$5.2M	$4.1M	100x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.29	+0.005%	—	$217K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.28	0.000%	$194K	$138K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	189.23	−0.026%	$6.4M	$14.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.09	−0.100%	$49K	$36K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps EWY-USD	+0.0050%	1h	189.11	−0.090%	$4K	$38	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.27	−0.005%	$781	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.18	−0.053%	$221K	$182K	10x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.14	−0.074%	$959K	$725K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.03	−0.132%	$13K	$262K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.26	−0.011%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0120%	1h	189.19	−0.048%	$525K	$332K	20x	as long as short
Paradex EWY-USD-PERP	+0.0143%	8h	189.41	+0.066%	$23	—	5x	as long as short
edgeX EWYUSDC	+0.0143%	4h	189.24	−0.020%	$424K	$273K	20x	as long as short
Bitget EWYUSDT	+0.0169%	8h	189.31	+0.016%	$2.5M	$1.5M	20x	as long as short
HTX EWY-USDT	+0.0204%	8h	189.20	−0.042%	$36K	$8K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0226%	8h	189.35	+0.037%	$4.0M	$4.1M	50x	as long as short
Deribit EWY_USDC-PERPETUALlong	+0.0384%	1h	189.28	long leg	$2K	$13K	20x
Aster EWYUSDT	+0.0465%	8h	189.12	−0.087%	$293K	$12K	20x	as long as short
Variational Omni EWYshort	+0.0513%	8h	189.11	−0.089%	$1.4M	$899K	—
MEXC EWY_USDT	+0.0565%	8h	189.27	−0.005%	$7.5M	$4.5M	100x	as long as short
Extended EWY_24_5-USD	+0.0568%	1h	189.24	−0.019%	$304K	$403K	10x	as long as short
Binance EWYUSDT	+0.0571%	8h	189.28	0.000%	$28.5M	$79.4M	50x	as long as short
BloFin EWY-USDT	+0.0580%	8h	189.25	−0.016%	$47K	$214K	50x	as long as short
GRVT EWY_USDT_Perp	+0.0654%	8h	189.31	+0.017%	$749K	$401K	10x	as long as short