Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.058%

Price spread now: Lighter against Variational Omni−0.121%7-day average −0.062% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.045%−$4 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.121%, 7d avg −0.062%

Together, before fees−0.020%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.059% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of −0.062%). If the spread goes back, that is −$6 on $10k: about 6.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWY	185.98	0	get 0.0000% / 8h	7h 46m	$1.2M	$1.1M	—
Short	Lighter EWY	185.76	0.0032	get 0.0004% / 1h	46m 41s	$377K	$40K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.121%Rate

Funding earned: $6.72
Price spread: −0.121% → −0.062%: −$5.88
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.84
Costs to cover: 0.000%
Break-even: 6.1 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 43 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 Variational Omni RFQ quote, 2 min ago	2.23 bp	doesn't fit	5.4 bp −$54	doesn't fit	doesn't fit
Sell Lighter live order book, 43 min ago	2.41 bp	10.1 bp −$10	14.6 bp −$146	45.5 bp −$4,553	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	−0.0572%	8h	185.96	−0.013%	$3.1M	$2.6M	20x	as long as short
Vest EWY-USD-PERP	−0.0026%	1h	185.71	−0.147%	—	$235K	25x	as long as short
Aster EWYUSDT	0.0000%	8h	186.06	+0.043%	$288K	$13K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	185.91	−0.040%	$240K	$916K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	185.94	−0.024%	$26.9M	$82.5M	50x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	185.92	−0.035%	$4.1M	$4.6M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	186.01	+0.014%	$4.1M	$4.4M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	185.93	−0.029%	$7.8M	$4.4M	100x	as long as short
Variational Omni EWYlong	0.0000%	8h	185.98	long leg	$1.2M	$1.1M	—
GRVT EWY_USDT_Perp	0.0000%	8h	186.12	+0.075%	$729K	$424K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWY-USDT	0.0000%	8h	186.10	+0.062%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	186.11	+0.068%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	185.98	−0.002%	$1.6M	$36K	10x	as long as short
BloFin EWY-USDT	+0.0013%	8h	186.00	+0.008%	$48K	$218K	50x	as long as short
Lighter EWYshort	+0.0032%	1h	185.76	−0.121%	$377K	$40K	20x
Popdex EWYUSDT	+0.0048%	1h	186.00	+0.008%	$197K	$153K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	185.76	−0.121%	$6.3M	$14.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	185.84	−0.078%	$141K	$120K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	185.77	−0.115%	$4K	$141	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	185.94	−0.024%	$742	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	185.95	−0.018%	$234K	$335K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	185.91	−0.042%	$22	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	185.87	−0.061%	$957K	$616K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	185.99	+0.003%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	186.00	+0.008%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0112%	1h	185.78	−0.110%	$516K	$250K	20x	as long as short
Bybit EWYUSDT	+0.0115%	8h	185.98	−0.002%	$4.9M	$4.8M	100x	as long as short
edgeX EWYUSDC	+0.0122%	4h	186.01	+0.011%	$417K	$286K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0181%	1h	185.91	−0.040%	$3K	$15K	20x	as long as short
Hotstuff EWY-PERP	+0.0304%	1h	185.95	−0.018%	$28K	$15K	20x	as long as short