Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0301%/8h= +33.0% APRpaid last 24h −0.566%

Price spread now: Hotstuff against Paradex−0.062%7-day average — · you buy dearer than you sell

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

Long on Paradex 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 airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.062% cheaper against Paradex than usual: you would sell low and buy high (spread −0.062% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex EWY-USD-PERP	189.75	0.0147	pay 0.0147% / 8h	24m 54s	$23	—	5x
Short	Hotstuff EWY-PERP	189.63	0.0448	get 0.0056% / 1h	24m 54s	$28K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Paradex. 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 ParadexbpFee HotstuffbpOrdersPrice spread, now −0.062%Rate

Funding earned: $63.2
Price spread: −0.062% → 0.000%: −$6.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $47.95
Costs to cover: 0.090%
Break-even: 1.7 days

Slippage unknown: Paradex: 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 Paradex no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Paradex 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
Gate EWY_USDT	0.0000%	8h	189.59	−0.084%	$3.3M	$2.8M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.47	−0.147%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.61	−0.073%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.51	−0.126%	$377K	$62K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.67	−0.041%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.62	−0.068%	$195K	$138K	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.57	−0.094%	$51K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.47	−0.147%	$4K	$81	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.58	−0.089%	$774	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.51	−0.126%	$243K	$206K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX EWYUSDC	+0.0054%	4h	189.72	−0.013%	$425K	$274K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.64	−0.057%	$966K	$694K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.50	−0.131%	$13K	$262K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.62	−0.068%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.61	−0.073%	$527K	$339K	20x	as long as short
Paradex EWY-USD-PERPlong	+0.0147%	8h	189.75	long leg	$23	—	5x
Bybit EWYUSDT	+0.0162%	8h	189.72	−0.015%	$5.3M	$4.2M	100x	as long as short
tradeXYZ xyz:EWY	+0.0175%	1h	189.57	−0.094%	$6.7M	$14.9M	20x	as long as short
Bitget EWYUSDT	+0.0216%	8h	189.68	−0.036%	$2.6M	$1.6M	20x	as long as short
HTX EWY-USDT	+0.0220%	8h	189.87	+0.064%	$36K	$8K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0316%	8h	189.73	−0.010%	$4.0M	$4.1M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0383%	1h	189.66	−0.047%	$2K	$13K	20x	as long as short
Hotstuff EWY-PERPshort	+0.0448%	1h	189.63	−0.062%	$28K	$12K	20x
Aster EWYUSDT	+0.0549%	8h	189.55	−0.103%	$294K	$12K	20x	as long as short
Variational Omni EWY	+0.0641%	8h	189.61	−0.071%	$1.5M	$983K	—	as long as short
BloFin EWY-USDT	+0.0647%	8h	189.65	−0.052%	$47K	$214K	50x	as long as short
GRVT EWY_USDT_Perp	+0.0656%	8h	189.61	−0.071%	$750K	$394K	10x	as long as short
Extended EWY_24_5-USD	+0.0672%	1h	189.57	−0.092%	$304K	$385K	10x	as long as short
MEXC EWY_USDT	+0.0673%	8h	189.60	−0.078%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0673%	8h	189.59	−0.084%	$28.5M	$79.8M	50x	as long as short