Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Phemex against tradeXYZ+0.138%48s7-day average +0.087% · you sell dearer than you buy
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1221.216% of the position
Funding, last 7 days−0.137%−$14 on $10k
+Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.138%, 7d avg +0.087%
=Together, before fees−0.271%+ Points / potential airdroptradeXYZ: Active · farm board−$27 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.051% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of +0.087%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.4 days. The two prices were read 48 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 | tradeXYZ xyz:EWY | 188.85 | 0.0050 | pay 0.0006% / 1h | 3m 35s | $6.2M | $14.3M | 20x |
| Short | Phemex EWYUSDT | 189.11 | 0 | get 0.0000% / 8h | 3h 03m | $1.7M | $37K | 10x |
tradeXYZ xyz:EWY
Phemex EWYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against tradeXYZ. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: +0.138% → +0.087%
- $5.07
- Slippage, 4 orders
- −$91.58
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$127.01
- Costs to cover
- 1.216%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 4 min ago; Phemex: live order book, 5 min ago.
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 tradeXYZ live order book, 4 min ago | 0.53 bp | 10.5 bp −$11 | 12.3 bp −$123 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 2.12 bp | 50.2 bp −$50 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin EWY-USDT | −0.0003% | 8h | 188.87 | +0.011% | $48K | $215K | 50x | as long as short |
| Aster EWYUSDT | 0.0000% | 8h | 188.99 | +0.075% | $293K | $12K | 20x | as long as short |
| Extended EWY_24_5-USD | 0.0000% | 1h | 188.97 | +0.061% | $300K | $422K | 10x | as long as short |
| Binance EWYUSDT | 0.0000% | 8h | 188.94 | +0.048% | $27.6M | $77.8M | 50x | as long as short |
| Bybit EWYUSDT | 0.0000% | 8h | 188.95 | +0.053% | $5.1M | $4.4M | 100x | as long as short |
| OKX EWY-USDT-SWAP | 0.0000% | 8h | 188.91 | +0.032% | $4.2M | $4.1M | 50x | as long as short |
| Gate EWY_USDT | 0.0000% | 8h | 188.98 | +0.069% | $4.1M | $3.9M | 50x | as long as short |
| MEXC EWY_USDT | 0.0000% | 8h | 188.97 | +0.064% | $6.2M | $3.8M | 100x | as long as short |
| Bitget EWYUSDT | 0.0000% | 8h | 188.94 | +0.048% | $2.7M | $2.2M | 20x | as long as short |
| Variational Omni EWY | 0.0000% | 8h | 188.85 | +0.001% | $1.2M | $1.1M | — | as long as short |
BloFin EWY-USDT
Aster EWYUSDT
Extended EWY_24_5-USD
Binance EWYUSDT
Bybit EWYUSDT
OKX EWY-USDT-SWAP
Gate EWY_USDT
MEXC EWY_USDT
Bitget EWYUSDT
Variational Omni EWYShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT EWY_USDT_Perp | 0.0000% | 8h | 188.78 | −0.039% | $747K | $406K | 10x | as long as short |
| SunX EWY-USDT | 0.0000% | 8h | 188.95 | +0.053% | — | $2.5M | 20x | as long as short |
| Deribit EWY_USDC-PERPETUAL | 0.0000% | 1h | 189.00 | +0.079% | $2K | $14K | 20x | as long as short |
| HTX EWY-USDT | 0.0000% | 8h | 188.91 | +0.032% | $22K | $35K | 20x | as long as short |
| Phemex EWYUSDTshort | 0.0000% | 8h | 189.11 | +0.138% | $1.7M | $37K | 10x | |
| Lighter EWY | +0.0032% | 1h | 188.92 | +0.037% | $383K | $40K | 20x | as long as short |
| Hotstuff EWY-PERP | +0.0040% | 1h | 188.92 | +0.037% | $28K | $12K | 20x | as long as short |
| Vest EWY-USD-PERP | +0.0046% | 1h | 188.86 | +0.005% | — | $220K | 25x | as long as short |
| Popdex EWYUSDT | +0.0048% | 1h | 188.93 | +0.042% | $197K | $147K | 20x | as long as short |
| Coinbase International EWY-PERP-INTX | +0.0048% | 1h | 188.40 | −0.238% | $524K | $290K | 20x | as long as short |
| tradeXYZ xyz:EWYlong | +0.0050% | 1h | 188.85 | long leg | $6.2M | $14.3M | 20x | |
| Entropy io:EWY | +0.0050% | 1h | 188.85 | 0.000% | $65K | $81K | 25x | as long as short |
| Polymarket Perps EWY-USD | +0.0050% | 1h | 188.79 | −0.032% | $4K | $126 | 20x | as long as short |
| SoDEX EWY-USD | +0.0050% | 1h | 188.98 | +0.069% | $733 | $4K | 10x | as long as short |
| Ondo Perps EWY-USD.P | +0.0050% | 1h | 188.63 | −0.116% | $202K | $304K | 10x | as long as short |
| Paradex EWY-USD-PERP | +0.0051% | 8h | 189.00 | +0.082% | $23 | — | 5x | as long as short |
| KuCoin EWYUSDTM | +0.0100% | 8h | 188.80 | −0.026% | $973K | $613K | 20x | as long as short |
| ApeX Omni EWYUSDT | +0.0100% | 1h | 188.81 | −0.021% | $13K | $265K | 50x | as long as short |
| Orderly PERP_EWY_USDC_mythos | +0.0100% | 8h | 189.05 | +0.106% | $2K | $1K | 20x | as long as short |
| edgeX EWYUSDC | +0.0592% | 4h | 188.80 | −0.028% | $423K | $285K | 20x | as long as short |
GRVT EWY_USDT_Perp
SunX EWY-USDT
Deribit EWY_USDC-PERPETUAL
HTX EWY-USDT
Lighter EWY
Hotstuff EWY-PERP
Vest EWY-USD-PERP
Popdex EWYUSDT
Coinbase International EWY-PERP-INTX
Entropy io:EWY
Polymarket Perps EWY-USD
SoDEX EWY-USD
Ondo Perps EWY-USD.P
Paradex EWY-USD-PERP
KuCoin EWYUSDTM
ApeX Omni EWYUSDT
Orderly PERP_EWY_USDC_mythos
edgeX EWYUSDC