Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.048%

Price spread now: Bybit against GRVT+0.096%50s7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.290% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now +0.096%, 7d avg +0.025%

Together, before fees−0.147%+ Points / potential airdropGRVT: Active · farm board−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.071% dearer against GRVT than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.025%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT EWY_USDT_Perp	190.34	0	get 0.0000% / 8h	4h 44m	$753K	$393K	10x
Short	Bybit EWYUSDT	190.52	0	get 0.0000% / 8h	4h 44m	$5.1M	$4.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → +0.025%: $7.13
Slippage, 4 orders: −$9.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$21.89
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from GRVT: live order book, 13 min ago; Bybit: live order book, 3 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 GRVT live order book, 13 min ago	0.26 bp	8.3 bp −$8	11.8 bp −$118	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.26 bp	8.0 bp −$8	11.1 bp −$111	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	−0.0056%	1h	190.34	+0.002%	$29K	$12K	20x	as long as short
Bybit EWYUSDTshort	0.0000%	8h	190.52	+0.096%	$5.1M	$4.2M	100x
Gate EWY_USDT	0.0000%	8h	190.46	+0.065%	$4.2M	$3.8M	50x	as long as short
GRVT EWY_USDT_Perplong	0.0000%	8h	190.34	long leg	$753K	$393K	10x
SunX EWY-USDT	0.0000%	8h	190.36	+0.012%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	190.35	+0.007%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.44	+0.054%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.40	+0.033%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.31	−0.014%	$386K	$39K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	190.39	+0.028%	$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	+0.0043%	8h	190.42	+0.044%	$2.7M	$1.9M	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.54	+0.107%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.40	+0.033%	$198K	$146K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.36	+0.012%	$6.1M	$13.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.30	−0.019%	$46K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.20	−0.072%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.40	+0.033%	$748	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.25	−0.046%	$201K	$267K	10x	as long as short
Paradex EWY-USD-PERP	+0.0053%	8h	190.43	+0.047%	$23	—	5x	as long as short
OKX EWY-USDT-SWAP	+0.0069%	8h	190.41	+0.038%	$4.1M	$3.3M	50x	as long as short
Aster EWYUSDT	+0.0094%	8h	190.41	+0.041%	$295K	$12K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.36	+0.012%	$981K	$622K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.42	+0.044%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.41	+0.038%	$2K	$1K	20x	as long as short
Variational Omni EWY	+0.0135%	8h	190.37	+0.017%	$1.2M	$1.1M	—	as long as short
Binance EWYUSDT	+0.0170%	8h	190.46	+0.065%	$28.4M	$76.6M	50x	as long as short
MEXC EWY_USDT	+0.0174%	8h	190.45	+0.059%	$6.5M	$3.9M	100x	as long as short
Extended EWY_24_5-USD	+0.0176%	1h	190.36	+0.012%	$304K	$663K	10x	as long as short
BloFin EWY-USDT	+0.0193%	8h	190.40	+0.033%	$48K	$214K	50x	as long as short
edgeX EWYUSDC	+0.0816%	4h	190.39	+0.026%	$427K	$284K	20x	as long as short