Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.167%73s7-day average +0.006% · you buy dearer than you sell

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

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.167%, 7d avg +0.006%

Together, before fees+0.311%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.173% cheaper against SunX than usual: you would sell low and buy high (spread −0.167% now, against its 7-day average of +0.006%). If the spread goes back, that is −$17 on $10k: about 5.8 days of funding at the current rate (+$3 a day). The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX EWY-USDT	185.58	0	get 0.0000% / 8h	7h 26m	—	$2.3M	20x
Short	ApeX Omni EWYUSDT	185.27	0.0100	get 0.0013% / 1h	26m 02s	$13K	$264K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.167%Rate

Funding earned: $21
Price spread: −0.167% → +0.006%: −$17.33
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$14.33
Costs to cover: 0.180%
Break-even: 11.8 days

Slippage unknown: SunX: live order book, 11 min ago; ApeX Omni: live order book, 6 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 SunX live order book, 11 min ago	500.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 6 min ago	30.49 bp	42.3 bp −$42	211.3 bp −$2,113	doesn't fit	doesn't fit

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	−0.0491%	8h	185.34	−0.129%	$3.1M	$2.7M	20x	as long as short
Vest EWY-USD-PERP	−0.0016%	1h	185.08	−0.269%	—	$235K	25x	as long as short
BloFin EWY-USDT	−0.0008%	8h	185.42	−0.086%	$48K	$219K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	185.62	+0.022%	$287K	$14K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	185.31	−0.146%	$239K	$916K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	185.38	−0.108%	$26.7M	$82.3M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	185.40	−0.097%	$4.9M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	185.30	−0.151%	$4.0M	$4.6M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	185.35	−0.124%	$4.0M	$4.4M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	185.34	−0.129%	$7.4M	$4.5M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWY	0.0000%	8h	185.32	−0.138%	$1.1M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	185.30	−0.150%	$726K	$415K	10x	as long as short
SunX EWY-USDTlong	0.0000%	8h	185.58	long leg	—	$2.3M	20x
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	185.27	−0.167%	$3K	$15K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	185.50	−0.043%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	185.34	−0.129%	$1.6M	$36K	10x	as long as short
Lighter EWY	+0.0032%	1h	185.20	−0.205%	$375K	$40K	20x	as long as short
Popdex EWYUSDT	+0.0048%	1h	185.39	−0.102%	$194K	$154K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	185.19	−0.210%	$6.0M	$15.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	185.27	−0.167%	$141K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	185.26	−0.172%	$4K	$141	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	185.30	−0.151%	$737	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	185.32	−0.140%	$233K	$333K	10x	as long as short
Paradex EWY-USD-PERP	+0.0056%	8h	185.40	−0.097%	$22	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	185.22	−0.194%	$954K	$629K	20x	as long as short
ApeX Omni EWYUSDTshort	+0.0100%	1h	185.27	−0.167%	$13K	$264K	50x
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	185.39	−0.102%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0112%	1h	185.09	−0.264%	$513K	$249K	20x	as long as short
Hotstuff EWY-PERP	+0.0128%	1h	185.16	−0.226%	$27K	$16K	20x	as long as short
edgeX EWYUSDC	+0.0522%	4h	185.28	−0.161%	$415K	$286K	20x	as long as short