Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0531%/8h= −58.2% APRpaid last 24h +0.009%

Price spread now: Bybit against Extended+0.082%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Extended Short on Bybit

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)−0.010%−$1 · spread now +0.082%, 7d avg +0.041%

Together, before fees−0.031%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.042% dearer against Extended than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of +0.041%): +$4 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.021% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.021% in total (about -1.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended EWY_24_5-USD	189.22	0.0568	pay 0.0071% / 1h	28m 10s	$304K	$403K	10x
Short	Bybit EWYUSDT	189.38	0.0037	get 0.0037% / 8h	1h 28m	$5.2M	$4.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$111.56
Price spread: +0.082% → +0.041%: $4.17
Slippage, 4 orders: −$4.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$128.3
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Extended: live order book, 54 min ago; Bybit: live order book, 5 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 Extended live order book, 54 min ago	0.03 bp	2.9 bp −$3	5.9 bp −$59	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.26 bp	8.1 bp −$8	12.6 bp −$126	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	189.23	+0.003%	$28K	$12K	20x	as long as short
Gate EWY_USDT	0.0000%	8h	189.25	+0.014%	$3.2M	$2.8M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	188.91	−0.166%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.25	+0.014%	$1.7M	$37K	10x	as long as short
edgeX EWYUSDC	+0.0004%	4h	189.14	−0.044%	$424K	$275K	20x	as long as short
Lighter EWY	+0.0032%	1h	189.12	−0.055%	$377K	$95K	20x	as long as short
Bybit EWYUSDTshort	+0.0037%	8h	189.38	+0.082%	$5.2M	$4.1M	100x
Vest EWY-USD-PERP	+0.0046%	1h	189.30	+0.040%	—	$217K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.26	+0.019%	$194K	$138K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	189.22	−0.002%	$6.4M	$14.8M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Entropy io:EWY	+0.0050%	1h	189.10	−0.066%	$49K	$36K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.09	−0.071%	$4K	$38	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.26	+0.019%	$779	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.92	−0.161%	$221K	$181K	10x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.12	−0.055%	$959K	$725K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.14	−0.044%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.24	+0.008%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0120%	1h	189.19	−0.018%	$525K	$332K	20x	as long as short
Paradex EWY-USD-PERP	+0.0142%	8h	189.41	+0.101%	$23	—	5x	as long as short
Bitget EWYUSDT	+0.0167%	8h	189.29	+0.035%	$2.5M	$1.5M	20x	as long as short
HTX EWY-USDT	+0.0200%	8h	189.20	−0.013%	$36K	$8K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0225%	8h	189.32	+0.051%	$4.0M	$4.1M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0332%	1h	189.27	+0.024%	$2K	$13K	20x	as long as short
Aster EWYUSDT	+0.0465%	8h	189.09	−0.069%	$293K	$12K	20x	as long as short
Variational Omni EWY	+0.0513%	8h	189.11	−0.060%	$1.4M	$899K	—	as long as short
BloFin EWY-USDT	+0.0540%	8h	189.31	+0.045%	$47K	$214K	50x	as long as short
MEXC EWY_USDT	+0.0560%	8h	189.25	+0.014%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0566%	8h	189.26	+0.019%	$28.5M	$79.5M	50x	as long as short
Extended EWY_24_5-USDlong	+0.0568%	1h	189.22	long leg	$304K	$403K	10x
GRVT EWY_USDT_Perp	+0.0647%	8h	189.13	−0.048%	$748K	$401K	10x	as long as short