Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.052%

Price spread now: SoDEX against Variational Omni−0.072%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 SoDEX

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

Funding pays, the price is against you. SoDEX is 0.072% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.8 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	187.79	0	get 0.0000% / 8h	2h 30m	$1.2M	$1.1M	—
Short	SoDEX EWY-USD	187.65	0.0050	get 0.0006% / 1h	30m 55s	$735	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.072%Rate

Funding earned: $10.5
Price spread: −0.072% → 0.000%: −$7.24
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$4.74
Costs to cover: 0.080%
Break-even: 10.2 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; SoDEX: 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, 3 min ago	2.24 bp	doesn't fit	4.4 bp −$44	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	187.84	+0.028%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.80	+0.008%	$230K	$491K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.85	+0.034%	$27.3M	$79.2M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.79	+0.002%	$5.1M	$4.5M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.81	+0.013%	$4.1M	$4.2M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.82	+0.018%	$4.1M	$4.1M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.85	+0.034%	$6.1M	$3.8M	100x	as long as short
Bitget EWYUSDT	0.0000%	8h	187.87	+0.045%	$2.7M	$2.3M	20x	as long as short
Variational Omni EWYlong	0.0000%	8h	187.79	long leg	$1.2M	$1.1M	—
GRVT EWY_USDT_Perp	0.0000%	8h	187.50	−0.151%	$741K	$414K	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	187.63	−0.083%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.83	+0.023%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.85	+0.034%	$1.7M	$37K	10x	as long as short
BloFin EWY-USDT	+0.0028%	8h	187.82	+0.018%	$48K	$215K	50x	as long as short
Lighter EWY	+0.0032%	1h	187.66	−0.067%	$380K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	188.04	+0.135%	$523K	$280K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	187.48	−0.163%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.77	−0.008%	$196K	$148K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.70	−0.046%	$6.1M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.68	−0.056%	$65K	$81K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.56	−0.120%	$4K	$126	20x	as long as short
SoDEX EWY-USDshort	+0.0050%	1h	187.65	−0.072%	$735	$4K	10x
Ondo Perps EWY-USD.P	+0.0050%	1h	187.60	−0.099%	$214K	$316K	10x	as long as short
Paradex EWY-USD-PERP	+0.0052%	8h	187.71	−0.041%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.79	+0.002%	$967K	$604K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.46	−0.174%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.79	+0.002%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0103%	4h	187.56	−0.121%	$421K	$285K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0336%	1h	187.85	+0.034%	$2K	$14K	20x	as long as short
Hotstuff EWY-PERP	+0.0376%	1h	187.45	−0.179%	$28K	$12K	20x	as long as short