Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Gate−0.105%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 Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 5 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. Polymarket Perps is 0.105% cheaper against Gate than usual: you would sell low and buy high (spread −0.105% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 7.0 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	190.47	0	get 0.0000% / 8h	4h 44m	$4.2M	$3.8M	50x
Short	Polymarket Perps EWY-USD	190.27	0.0050	get 0.0006% / 1h	44m 31s	$4K	$126	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.105%Rate

Funding earned: $10.5
Price spread: −0.105% → 0.000%: −$10.5
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23
Costs to cover: 0.230%
Break-even: 22.3 days

Slippage unknown: Gate: live order book, 4 min ago; Polymarket Perps: 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	1.84 bp	11.4 bp −$11	21.2 bp −$212	43.4 bp −$4,345	80.2 bp −$40.1K
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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
Bybit EWYUSDT	0.0000%	8h	190.51	+0.021%	$5.1M	$4.2M	100x	as long as short
Gate EWY_USDTlong	0.0000%	8h	190.47	long leg	$4.2M	$3.8M	50x
GRVT EWY_USDT_Perp	0.0000%	8h	190.34	−0.070%	$753K	$393K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.36	−0.058%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	190.35	−0.063%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.44	−0.016%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.40	−0.037%	$1.7M	$37K	10x	as long as short
Hotstuff EWY-PERP	+0.0008%	1h	190.33	−0.074%	$29K	$12K	20x	as long as short
Lighter EWY	+0.0032%	1h	190.31	−0.084%	$386K	$39K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	190.39	−0.042%	$531K	$306K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget EWYUSDT	+0.0041%	8h	190.44	−0.016%	$2.7M	$1.9M	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.56	+0.047%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.47	0.000%	$198K	$146K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.36	−0.058%	$6.1M	$13.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.30	−0.089%	$46K	$59K	25x	as long as short
Polymarket Perps EWY-USDshort	+0.0050%	1h	190.27	−0.105%	$4K	$126	20x
SoDEX EWY-USD	+0.0050%	1h	190.40	−0.037%	$748	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.25	−0.116%	$201K	$267K	10x	as long as short
Paradex EWY-USD-PERP	+0.0053%	8h	190.43	−0.023%	$23	—	5x	as long as short
OKX EWY-USDT-SWAP	+0.0069%	8h	190.41	−0.032%	$4.1M	$3.3M	50x	as long as short
Aster EWYUSDT	+0.0094%	8h	190.44	−0.017%	$295K	$12K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.36	−0.058%	$981K	$622K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.42	−0.026%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.41	−0.032%	$2K	$1K	20x	as long as short
Variational Omni EWY	+0.0135%	8h	190.37	−0.053%	$1.2M	$1.1M	—	as long as short
Binance EWYUSDT	+0.0170%	8h	190.45	−0.008%	$28.4M	$76.6M	50x	as long as short
MEXC EWY_USDT	+0.0174%	8h	190.45	−0.011%	$6.5M	$3.9M	100x	as long as short
Extended EWY_24_5-USD	+0.0176%	1h	190.41	−0.033%	$301K	$669K	10x	as long as short
BloFin EWY-USDT	+0.0193%	8h	190.40	−0.037%	$48K	$214K	50x	as long as short
edgeX EWYUSDC	+0.0816%	4h	190.39	−0.044%	$427K	$284K	20x	as long as short