Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.591%

Price spread now: Hotstuff against Variational Omni−0.085%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 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 · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.085% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 4.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWY	190.17	0.0028	pay 0.0028% / 8h	3h 57m	$1.2M	$1.1M	—
Short	Hotstuff EWY-PERP	190.01	0.0096	get 0.0012% / 1h	57m 33s	$28K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.085%Rate

Funding earned: $14.2
Price spread: −0.085% → 0.000%: −$8.5
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $0.7
Costs to cover: 0.050%
Break-even: 6.7 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; 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 Variational Omni RFQ quote, 2 min ago	2.23 bp	doesn't fit	6.7 bp −$67	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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
Aster EWYUSDT	0.0000%	8h	190.12	−0.028%	$295K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.06	−0.059%	$5.1M	$4.2M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	190.05	−0.064%	$4.1M	$3.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	190.06	−0.059%	$4.2M	$3.8M	50x	as long as short
Bitget EWYUSDT	0.0000%	8h	190.07	−0.053%	$2.7M	$2.0M	20x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.18	+0.005%	$752K	$396K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.10	−0.038%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.72	+0.288%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.11	−0.032%	$1.7M	$37K	10x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0013%	1h	190.10	−0.038%	$2K	$13K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWYlong	+0.0028%	8h	190.17	long leg	$1.2M	$1.1M	—
Lighter EWY	+0.0032%	1h	190.00	−0.090%	$385K	$39K	20x	as long as short
BloFin EWY-USDT	+0.0038%	8h	190.19	+0.010%	$48K	$213K	50x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.18	+0.004%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.05	−0.064%	$198K	$146K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	190.58	+0.215%	$532K	$296K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.01	−0.085%	$6.2M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.06	−0.059%	$30K	$65K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.89	−0.148%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.13	−0.022%	$749	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.96	−0.111%	$200K	$265K	10x	as long as short
Paradex EWY-USD-PERP	+0.0054%	8h	190.03	−0.075%	$23	—	5x	as long as short
Binance EWYUSDT	+0.0061%	8h	190.05	−0.066%	$27.7M	$76.5M	50x	as long as short
Extended EWY_24_5-USD	+0.0064%	1h	189.99	−0.093%	$301K	$669K	10x	as long as short
MEXC EWY_USDT	+0.0064%	8h	190.08	−0.048%	$6.2M	$3.8M	100x	as long as short
Hotstuff EWY-PERPshort	+0.0096%	1h	190.01	−0.085%	$28K	$12K	20x
KuCoin EWYUSDTM	+0.0100%	8h	190.06	−0.059%	$980K	$614K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.05	−0.064%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.12	−0.027%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0395%	4h	190.11	−0.032%	$426K	$283K	20x	as long as short