Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.008%

Price spread now: Coinbase International against Orderly−0.068%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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. Coinbase International is 0.068% cheaper against Orderly than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 5.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EWY_USDC_mythos	189.90	0.0100	pay 0.0100% / 8h	7h 33m	$2K	$1K	20x
Short	Coinbase International EWY-PERP-INTX	189.77	0.0144	get 0.0018% / 1h	33m 13s	$530K	$338K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now −0.068%Rate

Funding earned: $9.24
Price spread: −0.068% → 0.000%: −$6.85
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.61
Costs to cover: 0.160%
Break-even: 17.3 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 40 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 40 min ago	2.90 bp	7.9 bp −$8	12.8 bp −$128	doesn't fit	doesn't fit

Orderly: 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
Bybit EWYUSDT	0.0000%	8h	189.96	+0.032%	$5.3M	$4.2M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	189.90	0.000%	$4.1M	$3.3M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.06	+0.086%	$752K	$385K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.90	0.000%	—	$2.7M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	189.89	−0.005%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.23	+0.174%	$26K	$28K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.90	0.000%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.78	−0.063%	$378K	$54K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.07	+0.090%	—	$220K	25x	as long as short
edgeX EWYUSDC	+0.0047%	4h	190.08	+0.097%	$426K	$283K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex EWYUSDT	+0.0048%	1h	189.90	0.000%	$195K	$143K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	189.83	−0.037%	$6.3M	$15.0M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.00	+0.053%	$52K	$58K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.72	−0.095%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.90	0.000%	$408	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.84	−0.032%	$229K	$233K	10x	as long as short
Paradex EWY-USD-PERP	+0.0089%	8h	189.86	−0.023%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.91	+0.005%	$979K	$671K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.18	+0.147%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythoslong	+0.0100%	8h	189.90	long leg	$2K	$1K	20x
Coinbase International EWY-PERP-INTXshort	+0.0144%	1h	189.77	−0.068%	$530K	$338K	20x
OKX EWY-USDT-SWAP	+0.0308%	8h	190.00	+0.053%	$4.1M	$3.6M	50x	as long as short
Bitget EWYUSDT	+0.0317%	8h	189.95	+0.026%	$2.7M	$1.6M	20x	as long as short
Aster EWYUSDT	+0.0512%	8h	189.94	+0.023%	$294K	$12K	20x	as long as short
Hotstuff EWY-PERP	+0.0592%	1h	189.83	−0.037%	$28K	$12K	20x	as long as short
BloFin EWY-USDT	+0.0613%	8h	189.96	+0.032%	$47K	$214K	50x	as long as short
Variational Omni EWY	+0.0618%	8h	190.12	+0.113%	$1.2M	$1.1M	—	as long as short
Extended EWY_24_5-USD	+0.0632%	1h	189.86	−0.021%	$299K	$719K	10x	as long as short
Binance EWYUSDT	+0.0635%	8h	189.90	0.000%	$28.6M	$78.1M	50x	as long as short
MEXC EWY_USDT	+0.0638%	8h	189.91	+0.005%	$7.5M	$4.5M	100x	as long as short