Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h +0.523%

Price spread now: Gate against Hotstuff+0.026%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 Gate

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 · farm boardneeds both histories

The price spread pays, funding is against you. Gate is 0.026% dearer against Hotstuff than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 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	190.00	0.0152	pay 0.0019% / 1h	55m 21s	$28K	$12K	20x
Short	Gate EWY_USDT	190.05	0	get 0.0000% / 8h	3h 55m	$4.2M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.026%Rate

Funding earned: −$31.92
Price spread: +0.026% → 0.000%: $2.63
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.29
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	2.10 bp	13.2 bp −$13	29.2 bp −$292	46.2 bp −$4,624	80.7 bp −$40.3K

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
Aster EWYUSDT	0.0000%	8h	190.09	+0.047%	$295K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.07	+0.037%	$5.1M	$4.2M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	190.06	+0.032%	$4.1M	$3.3M	50x	as long as short
Gate EWY_USDTshort	0.0000%	8h	190.05	+0.026%	$4.2M	$3.8M	50x
Bitget EWYUSDT	0.0000%	8h	190.09	+0.047%	$2.7M	$2.0M	20x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.09	+0.049%	$752K	$396K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.99	−0.005%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	189.98	−0.011%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.72	+0.379%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.04	+0.021%	$1.7M	$37K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWY	+0.0015%	8h	190.01	+0.006%	$1.2M	$1.1M	—	as long as short
Lighter EWY	+0.0032%	1h	189.91	−0.047%	$385K	$39K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.18	+0.095%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.05	+0.026%	$198K	$146K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	190.58	+0.305%	$532K	$295K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	189.95	−0.026%	$6.1M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.00	0.000%	$30K	$65K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.89	−0.058%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.04	+0.021%	$746	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.87	−0.068%	$200K	$267K	10x	as long as short
Paradex EWY-USD-PERP	+0.0054%	8h	190.07	+0.039%	$23	—	5x	as long as short
Extended EWY_24_5-USD	+0.0056%	1h	190.02	+0.009%	$301K	$669K	10x	as long as short
Binance EWYUSDT	+0.0057%	8h	190.06	+0.029%	$27.7M	$76.4M	50x	as long as short
MEXC EWY_USDT	+0.0059%	8h	190.06	+0.032%	$6.2M	$3.8M	100x	as long as short
BloFin EWY-USDT	+0.0068%	8h	190.08	+0.042%	$48K	$213K	50x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.01	+0.005%	$978K	$614K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.07	+0.037%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.05	+0.026%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERPlong	+0.0152%	1h	190.00	long leg	$28K	$12K	20x
edgeX EWYUSDC	+0.0783%	4h	190.04	+0.023%	$426K	$283K	20x	as long as short