Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.058%

Price spread now: Coinbase International against Binance−0.272%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.254%+$25 · spread now −0.272%, 7d avg −0.074%

Together, before fees+0.232%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.198% cheaper against Binance than usual: you would sell low and buy high (spread −0.272% now, against its 7-day average of −0.074%). If the spread goes back, that is −$20 on $10k: about 17 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	Binance EWYUSDT	188.91	0	get 0.0000% / 8h	2h 44m	$27.5M	$78.1M	50x
Short	Coinbase International EWY-PERP-INTX	188.40	0.0040	get 0.0005% / 1h	44m 44s	$524K	$285K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.272%Rate

Funding earned: $8.4
Price spread: −0.272% → −0.074%: −$19.81
Slippage, 4 orders: −$9.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$41.28
Costs to cover: 0.299%
Break-even: 41.4 days

Slippage from Binance: live order book, 13 min ago; Coinbase International: 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 Binance live order book, 13 min ago	0.26 bp	5.3 bp −$5	6.7 bp −$67	19.3 bp −$1,932	doesn't fit
Sell Coinbase International live order book, 3 min ago	3.97 bp	10.1 bp −$10	15.0 bp −$150	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
Hotstuff EWY-PERP	−0.0064%	1h	188.91	−0.002%	$28K	$12K	20x	as long as short
Aster EWYUSDT	0.0000%	8h	188.93	+0.011%	$293K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.86	−0.028%	$299K	$425K	10x	as long as short
Binance EWYUSDTlong	0.0000%	8h	188.91	long leg	$27.5M	$78.1M	50x
Bybit EWYUSDT	0.0000%	8h	188.98	+0.035%	$5.1M	$4.4M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.86	−0.028%	$4.2M	$4.1M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.93	+0.009%	$4.1M	$4.0M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.91	−0.002%	$6.2M	$3.8M	100x	as long as short
Bitget EWYUSDT	0.0000%	8h	188.91	−0.002%	$2.7M	$2.3M	20x	as long as short
Variational Omni EWY	0.0000%	8h	188.94	+0.015%	$1.2M	$1.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT EWY_USDT_Perp	0.0000%	8h	188.86	−0.026%	$747K	$412K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	188.90	−0.007%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	188.96	+0.025%	$2K	$14K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	189.14	+0.120%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.95	+0.019%	$1.7M	$37K	10x	as long as short
BloFin EWY-USDT	+0.0016%	8h	188.96	+0.025%	$48K	$215K	50x	as long as short
Lighter EWY	+0.0032%	1h	188.82	−0.049%	$383K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTXshort	+0.0040%	1h	188.40	−0.272%	$524K	$285K	20x
Vest EWY-USD-PERP	+0.0046%	1h	188.90	−0.007%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.04	+0.067%	$197K	$148K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.78	−0.071%	$6.2M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.86	−0.028%	$65K	$81K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	188.80	−0.060%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.91	−0.002%	$733	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.75	−0.086%	$204K	$306K	10x	as long as short
Paradex EWY-USD-PERP	+0.0052%	8h	188.92	+0.004%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.85	−0.034%	$973K	$609K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.81	−0.055%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.98	+0.035%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0717%	4h	188.90	−0.010%	$423K	$285K	20x	as long as short