Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0272%/8h= −29.8% APRpaid last 24h +0.587%

Price spread now: Aster against Hotstuff+0.049%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Aster

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 airdropHotstuff: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.049% dearer against Hotstuff than usual: you sell high and buy low (spread +0.049% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff EWY-PERP	187.52	0.0272	pay 0.0034% / 1h	36m 32s	$28K	$12K	20x
Short	Aster EWYUSDT	187.61	0	get 0.0000% / 8h	1h 36m	$291K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hotstuff. 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 HotstuffbpFee AsterbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$57.12
Price spread: +0.049% → 0.000%: $4.92
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$65.2
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Aster: live order book, 5 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	1.86 bp	6.9 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit

Hotstuff: 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
Bitget EWYUSDT	−0.0190%	8h	187.63	+0.059%	$2.7M	$2.3M	20x	as long as short
BloFin EWY-USDT	−0.0003%	8h	187.55	+0.016%	$48K	$216K	50x	as long as short
Aster EWYUSDTshort	0.0000%	8h	187.61	+0.049%	$291K	$12K	20x
Extended EWY_24_5-USD	0.0000%	1h	187.52	−0.001%	$238K	$498K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.58	+0.032%	$27.2M	$81.8M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.65	+0.069%	$4.9M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.49	−0.016%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.60	+0.043%	$4.0M	$4.3M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.62	+0.053%	$8.6M	$4.5M	100x	as long as short
Variational Omni EWY	0.0000%	8h	187.81	+0.156%	$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
GRVT EWY_USDT_Perp	0.0000%	8h	187.83	+0.167%	$743K	$425K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	187.44	−0.043%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.97	+0.240%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.59	+0.037%	$1.7M	$36K	10x	as long as short
Lighter EWY	+0.0032%	1h	187.56	+0.021%	$380K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0043%	1h	187.29	−0.123%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.57	+0.027%	$196K	$151K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	187.38	−0.075%	$521K	$270K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.53	+0.005%	$6.4M	$14.2M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.60	+0.043%	$142K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.42	−0.053%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.50	−0.011%	$751	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.44	−0.043%	$223K	$319K	10x	as long as short
Paradex EWY-USD-PERP	+0.0060%	8h	187.70	+0.095%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.52	0.000%	$966K	$592K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.72	+0.107%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.54	+0.011%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0230%	1h	187.49	−0.016%	$2K	$14K	20x	as long as short
Hotstuff EWY-PERPlong	+0.0272%	1h	187.52	long leg	$28K	$12K	20x
edgeX EWYUSDC	+0.0619%	4h	187.63	+0.056%	$421K	$285K	20x	as long as short