Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.009%

Price spread now: Deribit against KuCoin+0.165%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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—needs both histories

The price spread pays, funding is against you. Deribit is 0.165% dearer against KuCoin than usual: you sell high and buy low (spread +0.165% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EWYUSDTM	188.28	0.0100	pay 0.0100% / 8h	2h 05m	$970K	$599K	20x
Short	Deribit EWY_USDC-PERPETUAL	188.59	0	get 0.0000% / 1h	5m 40s	$2K	$14K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$21
Price spread: +0.165% → 0.000%: $16.46
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.54
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 34 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 KuCoin live order book, 34 min ago	5.86 bp	184.1 bp −$184	doesn't fit	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
Bitget EWYUSDT	−0.0129%	8h	188.47	+0.101%	$2.7M	$2.3M	20x	as long as short
BloFin EWY-USDT	−0.0012%	8h	188.57	+0.154%	$47K	$217K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	188.57	+0.152%	$292K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.43	+0.079%	$241K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.49	+0.109%	$27.4M	$81.3M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.56	+0.149%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.41	+0.069%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.53	+0.133%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.47	+0.101%	$8.9M	$4.2M	100x	as long as short
Variational Omni EWY	0.0000%	8h	188.57	+0.155%	$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	188.35	+0.036%	$744K	$426K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	188.60	+0.170%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUALshort	0.0000%	1h	188.59	+0.165%	$2K	$14K	20x
HTX EWY-USDT	0.0000%	8h	188.45	+0.090%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.59	+0.165%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.36	+0.042%	$382K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	187.91	−0.197%	$523K	$276K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.42	+0.074%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.45	+0.090%	$198K	$151K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.41	+0.069%	$6.3M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.34	+0.032%	$126K	$111K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	188.41	+0.069%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.56	+0.149%	$741	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.33	+0.027%	$216K	$319K	10x	as long as short
Paradex EWY-USD-PERP	+0.0060%	8h	188.48	+0.105%	$23	—	5x	as long as short
KuCoin EWYUSDTMlong	+0.0100%	8h	188.28	long leg	$970K	$599K	20x
ApeX Omni EWYUSDT	+0.0100%	1h	188.37	+0.048%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.60	+0.170%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0552%	1h	188.45	+0.090%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0835%	4h	188.30	+0.008%	$422K	$284K	20x	as long as short