Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0650%/8h= +71.2% APRpaid last 24h +0.002%

Price spread now: MEXC against Lighter+0.047%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.047%, 7d avg +0.065%

Together, before fees+0.149%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.065%, so right now this pair is about funding alone: +$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.122% in total (about 6.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EWY	189.80	0.0032	pay 0.0004% / 1h	17m 21s	$377K	$62K	20x
Short	MEXC EWY_USDT	189.89	0.0682	get 0.0682% / 8h	17m 21s	$7.5M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now +0.047%Rate

Funding earned: $136.5
Price spread: +0.047% → +0.065%: −$1.74
Slippage, 4 orders: −$17.49
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $117.28
Costs to cover: 0.175%
Break-even: 1.0 days

Slippage from Lighter: live order book, 52 min ago; MEXC: live order book, just now.

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 Lighter live order book, 52 min ago	4.23 bp	6.7 bp −$7	16.8 bp −$168	48.8 bp −$4,878	doesn't fit
Sell MEXC live order book, just now	0.26 bp	0.3 bp $0	1.0 bp −$10	4.6 bp −$460	137.2 bp −$68.6K

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
Gate EWY_USDT	0.0000%	8h	189.89	+0.047%	$3.6M	$3.0M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.65	−0.079%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.92	+0.063%	$1.7M	$37K	10x	as long as short
Lighter EWYlong	+0.0032%	1h	189.80	long leg	$377K	$62K	20x
Vest EWY-USD-PERP	+0.0046%	1h	189.95	+0.079%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.92	+0.063%	$195K	$138K	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.74	−0.032%	$51K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.74	−0.032%	$4K	$81	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.87	+0.037%	$774	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.73	−0.037%	$243K	$207K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin EWYUSDTM	+0.0100%	8h	189.68	−0.063%	$966K	$688K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.86	+0.032%	$13K	$262K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.88	+0.042%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERP	+0.0138%	8h	190.04	+0.127%	$23	—	5x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.79	−0.005%	$528K	$341K	20x	as long as short
tradeXYZ xyz:EWY	+0.0153%	1h	189.84	+0.021%	$6.7M	$14.7M	20x	as long as short
Bybit EWYUSDT	+0.0170%	8h	189.96	+0.084%	$5.3M	$4.2M	100x	as long as short
HTX EWY-USDT	+0.0221%	8h	189.99	+0.100%	$36K	$8K	20x	as long as short
Bitget EWYUSDT	+0.0224%	8h	189.95	+0.079%	$2.6M	$1.5M	20x	as long as short
Hotstuff EWY-PERP	+0.0232%	1h	189.88	+0.042%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0306%	4h	189.83	+0.014%	$425K	$276K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0325%	8h	189.96	+0.084%	$4.0M	$4.0M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0435%	1h	189.90	+0.053%	$2K	$13K	20x	as long as short
Aster EWYUSDT	+0.0562%	8h	189.76	−0.022%	$294K	$12K	20x	as long as short
Variational Omni EWY	+0.0645%	8h	189.77	−0.016%	$1.5M	$991K	—	as long as short
GRVT EWY_USDT_Perp	+0.0656%	8h	189.91	+0.058%	$751K	$395K	10x	as long as short
BloFin EWY-USDT	+0.0676%	8h	189.86	+0.032%	$47K	$214K	50x	as long as short
MEXC EWY_USDTshort	+0.0682%	8h	189.89	+0.047%	$7.5M	$4.5M	100x
Binance EWYUSDT	+0.0687%	8h	189.86	+0.032%	$28.6M	$79.7M	50x	as long as short
Extended EWY_24_5-USD	+0.0688%	1h	189.82	+0.013%	$298K	$396K	10x	as long as short