Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0577%/8h= −63.2% APRpaid last 24h −0.024%

Price spread now: Deribit against Variational Omni+0.129%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

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 airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.129% dearer against Variational Omni than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWY	190.30	0.0577	pay 0.0577% / 8h	7h 07m	$1.2M	$1.1M	—
Short	Deribit EWY_USDC-PERPETUAL	190.55	0	get 0.0000% / 1h	7m 09s	$2K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$121.11
Price spread: +0.129% → 0.000%: $12.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$115.16
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: 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 Variational Omni RFQ quote, 2 min ago	2.23 bp	doesn't fit	7.1 bp −$71	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	190.64	+0.177%	$5.2M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.61	+0.161%	$4.0M	$3.5M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.43	+0.066%	$753K	$386K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.50	+0.103%	—	$2.6M	20x	as long as short
Deribit EWY_USDC-PERPETUALshort	0.0000%	1h	190.55	+0.129%	$2K	$13K	20x
HTX EWY-USDT	0.0000%	8h	190.48	+0.093%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.61	+0.161%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.43	+0.066%	$386K	$64K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.84	+0.282%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.68	+0.198%	$196K	$141K	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	190.56	+0.135%	$6.2M	$14.5M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.44	+0.072%	$52K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.46	+0.082%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.61	+0.161%	$509	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.46	+0.082%	$229K	$235K	10x	as long as short
Paradex EWY-USD-PERP	+0.0071%	8h	190.72	+0.216%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.41	+0.056%	$982K	$652K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.38	+0.040%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.65	+0.182%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0136%	1h	190.62	+0.166%	$29K	$12K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	190.34	+0.019%	$531K	$341K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0278%	8h	190.65	+0.182%	$4.2M	$3.5M	50x	as long as short
Bitget EWYUSDT	+0.0445%	8h	190.63	+0.172%	$2.7M	$1.6M	20x	as long as short
Aster EWYUSDT	+0.0481%	8h	190.60	+0.158%	$296K	$12K	20x	as long as short
Variational Omni EWYlong	+0.0577%	8h	190.30	long leg	$1.2M	$1.1M	—
Extended EWY_24_5-USD	+0.0600%	1h	190.55	+0.131%	$304K	$670K	10x	as long as short
MEXC EWY_USDT	+0.0602%	8h	190.61	+0.161%	$7.4M	$4.6M	100x	as long as short
Binance EWYUSDT	+0.0602%	8h	190.60	+0.154%	$28.6M	$77.4M	50x	as long as short
BloFin EWY-USDT	+0.0611%	8h	190.59	+0.150%	$47K	$214K	50x	as long as short
edgeX EWYUSDC	+0.0921%	4h	190.39	+0.043%	$427K	$282K	20x	as long as short