Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0518%/8h= +56.7% APRpaid last 24h −0.021%

Price spread now: Variational Omni against ApeX Omni+0.060%73s7-day average +0.014% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.090%−$9 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.060%, 7d avg +0.014%

Together, before fees−0.119%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Variational Omni is 0.046% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.014%. Mind the row above: over the last 3 days funding on this pair cost −0.090%, so the current rate has only just turned in your favour. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.090% in total (about -9.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni EWYUSDT	189.60	0.0100	pay 0.0013% / 1h	36m 26s	$13K	$262K	50x
Short	Variational Omni EWY	189.71	0.0618	get 0.0618% / 8h	36m 26s	$1.5M	$983K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.060%Rate

Funding earned: $108.78
Price spread: +0.060% → +0.014%: $4.56
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $103.34
Costs to cover: 0.100%
Break-even: 0.3 days

Slippage unknown: ApeX Omni: live order book, 40 min ago; Variational Omni: RFQ quote, 3 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 ApeX Omni live order book, 40 min ago	28.29 bp	40.3 bp −$40	202.0 bp −$2,020	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.21 bp	doesn't fit	4.0 bp −$40	doesn't fit	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
Gate EWY_USDT	0.0000%	8h	189.73	+0.069%	$3.2M	$2.7M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.43	−0.090%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.70	+0.053%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.62	+0.011%	$377K	$62K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.75	+0.079%	—	$217K	25x	as long as short
Entropy io:EWY	+0.0050%	1h	189.55	−0.026%	$51K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.58	−0.011%	$4K	$74	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.73	+0.069%	$778	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.53	−0.037%	$232K	$198K	10x	as long as short
Popdex EWYUSDT	+0.0080%	1h	189.71	+0.058%	$195K	$138K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin EWYUSDTM	+0.0100%	8h	189.58	−0.011%	$966K	$704K	20x	as long as short
ApeX Omni EWYUSDTlong	+0.0100%	1h	189.60	long leg	$13K	$262K	50x
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.73	+0.069%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.58	−0.011%	$527K	$338K	20x	as long as short
Paradex EWY-USD-PERP	+0.0154%	8h	189.84	+0.127%	$23	—	5x	as long as short
Bybit EWYUSDT	+0.0154%	8h	189.86	+0.137%	$5.3M	$4.2M	100x	as long as short
tradeXYZ xyz:EWY	+0.0189%	1h	189.74	+0.074%	$6.4M	$14.7M	20x	as long as short
edgeX EWYUSDC	+0.0206%	4h	189.60	0.000%	$425K	$274K	20x	as long as short
Bitget EWYUSDT	+0.0210%	8h	189.80	+0.105%	$2.6M	$1.6M	20x	as long as short
HTX EWY-USDT	+0.0211%	8h	189.67	+0.037%	$36K	$8K	20x	as long as short
Hotstuff EWY-PERP	+0.0256%	1h	189.73	+0.069%	$28K	$12K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0303%	8h	189.86	+0.137%	$4.0M	$4.1M	50x	as long as short
Aster EWYUSDT	+0.0530%	8h	189.60	+0.001%	$294K	$12K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0541%	1h	189.77	+0.090%	$2K	$13K	20x	as long as short
Variational Omni EWYshort	+0.0618%	8h	189.71	+0.060%	$1.5M	$983K	—
BloFin EWY-USDT	+0.0645%	8h	189.65	+0.026%	$47K	$214K	50x	as long as short
GRVT EWY_USDT_Perp	+0.0647%	8h	189.60	−0.001%	$750K	$399K	10x	as long as short
Extended EWY_24_5-USD	+0.0648%	1h	189.73	+0.067%	$304K	$392K	10x	as long as short
MEXC EWY_USDT	+0.0648%	8h	189.73	+0.069%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0650%	8h	189.76	+0.084%	$28.6M	$79.9M	50x	as long as short