Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.020%

Price spread now: Entropy against HTX−0.048%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 3 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. Entropy is 0.048% cheaper against HTX than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2.1 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	HTX EWY-USDT	188.98	0.0014	pay 0.0014% / 8h	2h 14m	$36K	$8K	20x
Short	Entropy io:EWY	188.89	0.0089	get 0.0011% / 1h	14m 13s	$49K	$36K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against HTX. 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 HTXbpFee EntropybpOrdersPrice spread, now −0.048%Rate

Funding earned: $15.75
Price spread: −0.048% → 0.000%: −$4.76
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$19.01
Costs to cover: 0.300%
Break-even: 15.4 days

Slippage unknown: HTX: no order-book sample; Entropy: 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 HTX no order-book sample	—	—	—	—	—
Sell Entropy no order-book sample	—	—	—	—	—

HTX and Entropy: 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	−0.0264%	1h	188.88	−0.053%	$28K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	189.02	+0.021%	$5.6M	$3.5M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	188.92	−0.032%	$3.2M	$2.7M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	188.64	−0.180%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.94	−0.021%	$1.7M	$37K	10x	as long as short
HTX EWY-USDTlong	+0.0014%	8h	188.98	long leg	$36K	$8K	20x
Lighter EWY	+0.0032%	1h	188.81	−0.090%	$376K	$95K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.99	+0.005%	—	$217K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.96	−0.011%	$193K	$139K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.89	−0.048%	$6.3M	$14.8M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps EWY-USD	+0.0050%	1h	188.79	−0.101%	$4K	$38	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.94	−0.021%	$778	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.72	−0.138%	$221K	$181K	10x	as long as short
edgeX EWYUSDC	+0.0070%	4h	188.92	−0.034%	$423K	$275K	20x	as long as short
Entropy io:EWYshort	+0.0089%	1h	188.89	−0.048%	$49K	$36K	25x
Bitget EWYUSDT	+0.0093%	8h	189.01	+0.016%	$2.6M	$1.4M	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.89	−0.048%	$957K	$729K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.71	−0.143%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.94	−0.021%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERP	+0.0119%	8h	189.08	+0.053%	$23	—	5x	as long as short
Coinbase International EWY-PERP-INTX	+0.0128%	1h	188.88	−0.053%	$524K	$330K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0143%	8h	189.01	+0.016%	$4.0M	$4.0M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0226%	1h	188.97	−0.005%	$2K	$13K	20x	as long as short
Aster EWYUSDT	+0.0254%	8h	188.78	−0.107%	$293K	$12K	20x	as long as short
Variational Omni EWY	+0.0289%	8h	188.93	−0.028%	$1.4M	$890K	—	as long as short
BloFin EWY-USDT	+0.0335%	8h	188.97	−0.005%	$47K	$214K	50x	as long as short
MEXC EWY_USDT	+0.0335%	8h	188.95	−0.016%	$7.5M	$4.6M	100x	as long as short
Extended EWY_24_5-USD	+0.0336%	1h	188.93	−0.026%	$304K	$410K	10x	as long as short
Binance EWYUSDT	+0.0338%	8h	188.96	−0.012%	$28.3M	$79.6M	50x	as long as short
GRVT EWY_USDT_Perp	+0.0457%	8h	188.92	−0.031%	$747K	$419K	10x	as long as short