Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.051%

Price spread now: Gate against Extended+0.042%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.132%−$13 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.042%, 7d avg +0.035%

Together, before fees−0.162%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.132% in total (about -6.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended EWY_24_5-USD	188.23	0.0320	pay 0.0040% / 1h	30m 15s	$247K	$935K	10x
Short	Gate EWY_USDT	188.31	0.0068	get 0.0068% / 8h	5h 30m	$4.0M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.042%Rate

Funding earned: −$52.92
Price spread: +0.042% → +0.035%: $0.77
Slippage, 4 orders: −$15.07
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$87.22
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Extended: live order book, 16 min ago; Gate: live order book, 1 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, 16 min ago	0.03 bp	2.9 bp −$3	6.6 bp −$66	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.86 bp	14.6 bp −$15	23.7 bp −$237	42.3 bp −$4,230	77.1 bp −$38.6K

EWY on 30 exchanges

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	−8.0000%	1h	187.35	−0.468%	$28K	$16K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.27	+0.021%	$5.0M	$5.0M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.30	+0.037%	$4.0M	$4.9M	50x	as long as short
Bitget EWYUSDT	0.0000%	8h	188.32	+0.048%	$3.1M	$3.1M	20x	as long as short
SunX EWY-USDT	0.0000%	8h	187.96	−0.144%	—	$1.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.28	+0.026%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.10	−0.069%	$381K	$44K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.25	+0.011%	—	$224K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.27	+0.021%	$201K	$166K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.17	−0.032%	$5.9M	$15.5M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Entropy io:EWY	+0.0050%	1h	188.23	0.000%	$143K	$118K	25x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.27	+0.021%	$777	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.97	−0.138%	$225K	$315K	10x	as long as short
Paradex EWY-USD-PERP	+0.0055%	8h	188.40	+0.092%	$23	—	5x	as long as short
Gate EWY_USDTshort	+0.0068%	8h	188.31	+0.042%	$4.0M	$4.8M	50x
Coinbase International EWY-PERP-INTX	+0.0088%	1h	188.10	−0.069%	$523K	$254K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.13	−0.053%	$968K	$718K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.04	−0.101%	$13K	$266K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.29	+0.032%	$2K	$1K	20x	as long as short
Polymarket Perps EWY-USD	+0.0179%	1h	188.41	+0.096%	$4K	$7K	20x	as long as short
Aster EWYUSDT	+0.0221%	8h	188.16	−0.035%	$291K	$14K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0228%	1h	188.28	+0.026%	$3K	$12K	20x	as long as short
BloFin EWY-USDT	+0.0279%	8h	188.29	+0.032%	$48K	$240K	50x	as long as short
Variational Omni EWY	+0.0289%	8h	188.24	+0.006%	$1.1M	$941K	—	as long as short
MEXC EWY_USDT	+0.0313%	8h	188.30	+0.037%	$7.4M	$4.4M	100x	as long as short
Binance EWYUSDT	+0.0317%	8h	188.28	+0.026%	$26.1M	$86.6M	50x	as long as short
Extended EWY_24_5-USDlong	+0.0320%	1h	188.23	long leg	$247K	$935K	10x
HTX EWY-USDT	+0.0492%	8h	188.23	0.000%	$22K	$36K	20x	as long as short
edgeX EWYUSDC	+0.0705%	4h	188.21	−0.009%	$422K	$290K	20x	as long as short
GRVT EWY_USDT_Perp	+0.0973%	8h	188.24	+0.004%	$737K	$412K	10x	as long as short