Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.040%

Price spread now: MEXC against ApeX Omni+0.140%96s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as 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−$840.840% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.140%, 7d avg +0.017%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.123% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.017%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.1 days. At the pace of the last 7 days (−0.030% in total) that is about 29 days. The two prices were read 96 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	ApeX Omni EWYUSDT	185.57	0.0100	pay 0.0013% / 1h	19m 48s	$13K	$265K	50x
Short	MEXC EWY_USDT	185.83	0	get 0.0000% / 8h	7h 19m	$7.4M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$21
Price spread: +0.140% → +0.017%: $12.26
Slippage, 4 orders: −$74.05
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$92.78
Costs to cover: 0.840%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 12 min ago; MEXC: live order book, 3 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 ApeX Omni live order book, 12 min ago	30.49 bp	41.2 bp −$41	214.3 bp −$2,143	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.27 bp	0.3 bp $0	0.5 bp −$5	4.3 bp −$425	118.2 bp −$59.1K

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	−0.0467%	8h	185.89	+0.172%	$3.1M	$2.7M	20x	as long as short
Vest EWY-USD-PERP	−0.0012%	1h	185.42	−0.081%	—	$235K	25x	as long as short
Aster EWYUSDT	0.0000%	8h	185.84	+0.146%	$288K	$14K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	185.78	+0.114%	$239K	$912K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	185.86	+0.158%	$26.7M	$82.0M	50x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	185.85	+0.151%	$4.1M	$4.6M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	185.88	+0.167%	$4.2M	$4.5M	50x	as long as short
MEXC EWY_USDTshort	0.0000%	8h	185.83	+0.140%	$7.4M	$4.5M	100x
Variational Omni EWY	0.0000%	8h	185.77	+0.107%	$1.1M	$1.0M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	185.53	−0.024%	$727K	$418K	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	185.80	+0.124%	—	$2.2M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	185.64	+0.038%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	185.79	+0.119%	$1.6M	$37K	10x	as long as short
Hotstuff EWY-PERP	+0.0016%	1h	185.56	−0.005%	$27K	$16K	20x	as long as short
BloFin EWY-USDT	+0.0030%	8h	185.72	+0.081%	$48K	$220K	50x	as long as short
Lighter EWY	+0.0032%	1h	185.67	+0.054%	$376K	$40K	20x	as long as short
Bybit EWYUSDT	+0.0036%	8h	185.89	+0.172%	$5.0M	$4.9M	100x	as long as short
Popdex EWYUSDT	+0.0048%	1h	185.77	+0.108%	$195K	$154K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	185.69	+0.065%	$6.0M	$14.6M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	185.59	+0.011%	$141K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	185.59	+0.011%	$4K	$141	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	185.78	+0.113%	$742	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	185.63	+0.032%	$233K	$333K	10x	as long as short
Paradex EWY-USD-PERP	+0.0056%	8h	185.74	+0.092%	$22	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	185.55	−0.011%	$955K	$635K	20x	as long as short
ApeX Omni EWYUSDTlong	+0.0100%	1h	185.57	long leg	$13K	$265K	50x
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	185.79	+0.119%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0112%	1h	185.38	−0.102%	$515K	$249K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0235%	1h	185.72	+0.081%	$3K	$15K	20x	as long as short
edgeX EWYUSDC	+0.0959%	4h	185.52	−0.030%	$416K	$285K	20x	as long as short