Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0170%/8h= +18.6% APRpaid last 24h −0.021%

Price spread now: Deribit against GRVT−0.054%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Deribit

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.054% cheaper against GRVT than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 25 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT EWY_USDT_Perp	190.53	0	get 0.0000% / 8h	5h 12m	$753K	$392K	10x
Short	Deribit EWY_USDC-PERPETUAL	190.43	0.0170	get 0.0021% / 1h	12m 36s	$2K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.054%Rate

Funding earned: $35.76
Price spread: −0.054% → 0.000%: −$5.38
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $14.38
Costs to cover: 0.160%
Break-even: 4.2 days

Slippage unknown: GRVT: live order book, 50 min ago; Deribit: 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 GRVT live order book, 50 min ago	1.58 bp	6.6 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Hotstuff EWY-PERP	−0.0248%	1h	190.41	−0.064%	$29K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.47	−0.033%	$5.1M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.43	−0.054%	$4.1M	$3.7M	50x	as long as short
GRVT EWY_USDT_Perplong	0.0000%	8h	190.53	long leg	$753K	$392K	10x
SunX EWY-USDT	0.0000%	8h	190.36	−0.091%	—	$2.5M	20x	as long as short
Coinbase International EWY-PERP-INTX	0.0000%	1h	190.49	−0.022%	$531K	$315K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.54	+0.004%	$22K	$36K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.45	−0.043%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.22	−0.164%	$386K	$39K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.59	+0.030%	—	$220K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex EWYUSDT	+0.0048%	1h	190.51	−0.012%	$198K	$146K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.33	−0.106%	$6.1M	$13.9M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.27	−0.138%	$51K	$56K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.33	−0.106%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.46	−0.038%	$750	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.33	−0.106%	$201K	$268K	10x	as long as short
Paradex EWY-USD-PERP	+0.0056%	8h	190.39	−0.074%	$23	—	5x	as long as short
Bitget EWYUSDT	+0.0074%	8h	190.43	−0.054%	$2.7M	$2.0M	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.37	−0.085%	$981K	$629K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.55	+0.009%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.47	−0.033%	$2K	$1K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0103%	8h	190.44	−0.049%	$4.1M	$3.5M	50x	as long as short
Aster EWYUSDT	+0.0169%	8h	190.43	−0.052%	$295K	$12K	20x	as long as short
Deribit EWY_USDC-PERPETUALshort	+0.0170%	1h	190.43	−0.054%	$2K	$13K	20x
Variational Omni EWY	+0.0213%	8h	190.46	−0.039%	$1.2M	$1.1M	—	as long as short
Extended EWY_24_5-USD	+0.0240%	1h	190.34	−0.099%	$302K	$665K	10x	as long as short
BloFin EWY-USDT	+0.0241%	8h	190.54	+0.004%	$48K	$214K	50x	as long as short
Binance EWYUSDT	+0.0243%	8h	190.39	−0.073%	$28.4M	$76.8M	50x	as long as short
MEXC EWY_USDT	+0.0243%	8h	190.41	−0.064%	$6.5M	$4.2M	100x	as long as short
edgeX EWYUSDC	+0.0574%	4h	190.45	−0.041%	$427K	$284K	20x	as long as short