Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: Entropy against Gate−0.037%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Entropy

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—needs both histories

Funding pays, the price is against you. Entropy is 0.037% cheaper against Gate than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate EWY_USDT	190.08	0	get 0.0000% / 8h	3h 53m	$4.2M	$3.8M	50x
Short	Entropy io:EWY	190.01	0.0050	get 0.0006% / 1h	53m 58s	$30K	$65K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Gate. 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 GatebpFee EntropybpOrdersPrice spread, now −0.037%Rate

Funding earned: $10.5
Price spread: −0.037% → 0.000%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$26.18
Costs to cover: 0.330%
Break-even: 24.5 days

Slippage unknown: Gate: live order book, 4 min ago; Entropy: no order-book sample. 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 Gate live order book, 4 min ago	2.10 bp	12.9 bp −$13	31.1 bp −$311	42.7 bp −$4,269	78.1 bp −$39.1K
Sell Entropy no order-book sample	—	—	—	—	—

Entropy: 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
Aster EWYUSDT	0.0000%	8h	190.09	+0.005%	$295K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.03	−0.026%	$5.1M	$4.2M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	190.10	+0.011%	$4.1M	$3.4M	50x	as long as short
Gate EWY_USDTlong	0.0000%	8h	190.08	long leg	$4.2M	$3.8M	50x
Bitget EWYUSDT	0.0000%	8h	190.12	+0.021%	$2.7M	$2.0M	20x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.09	+0.007%	$752K	$396K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.98	−0.053%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.72	+0.337%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.09	+0.005%	$1.7M	$37K	10x	as long as short
Variational Omni EWY	+0.0015%	8h	190.01	−0.036%	$1.2M	$1.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter EWY	+0.0032%	1h	189.97	−0.058%	$385K	$39K	20x	as long as short
BloFin EWY-USDT	+0.0039%	8h	190.11	+0.016%	$48K	$213K	50x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.24	+0.084%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.14	+0.032%	$198K	$146K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	190.58	+0.263%	$532K	$294K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.03	−0.026%	$6.2M	$14.3M	20x	as long as short
Entropy io:EWYshort	+0.0050%	1h	190.01	−0.037%	$30K	$65K	25x
Polymarket Perps EWY-USD	+0.0050%	1h	189.95	−0.068%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.10	+0.011%	$750	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.87	−0.110%	$200K	$267K	10x	as long as short
Paradex EWY-USD-PERP	+0.0054%	8h	190.15	+0.038%	$23	—	5x	as long as short
Binance EWYUSDT	+0.0055%	8h	190.03	−0.026%	$27.7M	$76.4M	50x	as long as short
Extended EWY_24_5-USD	+0.0056%	1h	190.06	−0.012%	$301K	$669K	10x	as long as short
MEXC EWY_USDT	+0.0056%	8h	190.10	+0.011%	$6.2M	$3.8M	100x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.01	−0.037%	$978K	$614K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.07	−0.005%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.10	+0.011%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0118%	1h	190.08	0.000%	$2K	$13K	20x	as long as short
Hotstuff EWY-PERP	+0.0120%	1h	190.07	−0.005%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0783%	4h	190.04	−0.019%	$426K	$283K	20x	as long as short