Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h −0.542%

Price spread now: Hotstuff against Orderly−0.037%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 Hotstuff

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.037% cheaper against Orderly than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EWY_USDC_mythos	190.31	0.0100	pay 0.0100% / 8h	7h 37m	$2K	$1K	20x
Short	Hotstuff EWY-PERP	190.24	0.0344	get 0.0043% / 1h	37m 08s	$29K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.037%Rate

Funding earned: $51.24
Price spread: −0.037% → 0.000%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $36.56
Costs to cover: 0.110%
Break-even: 2.0 days

Slippage unknown: Orderly: no order-book sample; Hotstuff: 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 Orderly no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Orderly and 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
Bybit EWYUSDT	0.0000%	8h	190.26	−0.026%	$5.3M	$4.2M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.26	−0.026%	$4.1M	$3.3M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.21	−0.052%	$753K	$387K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.21	−0.053%	—	$2.7M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.17	−0.074%	$26K	$28K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.20	−0.058%	$1.7M	$37K	10x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0013%	1h	190.33	+0.011%	$2K	$13K	20x	as long as short
Lighter EWY	+0.0032%	1h	190.18	−0.068%	$379K	$54K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.44	+0.068%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.28	−0.016%	$196K	$142K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:EWY	+0.0050%	1h	190.17	−0.074%	$6.3M	$14.9M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.08	−0.121%	$52K	$58K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.14	−0.089%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.26	−0.026%	$795	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.14	−0.089%	$241K	$231K	10x	as long as short
Paradex EWY-USD-PERP	+0.0092%	8h	190.29	−0.013%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.08	−0.121%	$980K	$672K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.28	−0.016%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythoslong	+0.0100%	8h	190.31	long leg	$2K	$1K	20x
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.77	−0.284%	$530K	$338K	20x	as long as short
Bitget EWYUSDT	+0.0311%	8h	190.23	−0.042%	$2.7M	$1.6M	20x	as long as short
OKX EWY-USDT-SWAP	+0.0319%	8h	190.25	−0.032%	$4.1M	$3.6M	50x	as long as short
Hotstuff EWY-PERPshort	+0.0344%	1h	190.24	−0.037%	$29K	$12K	20x
Aster EWYUSDT	+0.0527%	8h	190.35	+0.019%	$295K	$12K	20x	as long as short
Variational Omni EWY	+0.0635%	8h	190.04	−0.144%	$1.2M	$1.3M	—	as long as short
Binance EWYUSDT	+0.0653%	8h	190.25	−0.030%	$28.7M	$78.0M	50x	as long as short
Extended EWY_24_5-USD	+0.0656%	1h	190.24	−0.038%	$301K	$654K	10x	as long as short
MEXC EWY_USDT	+0.0656%	8h	190.26	−0.026%	$7.6M	$4.5M	100x	as long as short
BloFin EWY-USDT	+0.0679%	8h	190.26	−0.026%	$47K	$214K	50x	as long as short
edgeX EWYUSDC	+0.0700%	4h	190.18	−0.071%	$426K	$282K	20x	as long as short