Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.055%

Price spread now: Polymarket Perps against Binance−0.070%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Polymarket Perps is 0.070% cheaper against Binance than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.6 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	Binance EWYUSDT	186.42	0	get 0.0000% / 8h	2m 01s	$27.0M	$83.2M	50x
Short	Polymarket Perps EWY-USD	186.29	0.0050	get 0.0006% / 1h	2m 01s	$4K	$141	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.070%Rate

Funding earned: $10.5
Price spread: −0.070% → 0.000%: −$6.97
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$14.47
Costs to cover: 0.180%
Break-even: 16.6 days

Slippage unknown: Binance: live order book, 11 min ago; Polymarket Perps: 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 Binance live order book, 11 min ago	0.27 bp	5.3 bp −$5	7.2 bp −$72	21.7 bp −$2,169	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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
Hotstuff EWY-PERP	−4.4720%	1h	186.33	−0.048%	$28K	$15K	20x	as long as short
Bitget EWYUSDT	−0.0610%	8h	186.51	+0.048%	$3.1M	$2.6M	20x	as long as short
Vest EWY-USD-PERP	−0.0031%	1h	185.92	−0.268%	—	$220K	25x	as long as short
Aster EWYUSDT	0.0000%	8h	186.46	+0.020%	$289K	$13K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	186.40	−0.009%	$237K	$915K	10x	as long as short
Binance EWYUSDTlong	0.0000%	8h	186.42	long leg	$27.0M	$83.2M	50x
Bybit EWYUSDT	0.0000%	8h	186.47	+0.027%	$4.9M	$4.9M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	186.42	0.000%	$4.1M	$4.7M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	186.48	+0.032%	$4.1M	$4.5M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	186.43	+0.005%	$7.9M	$4.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWY	0.0000%	8h	186.48	+0.032%	$1.1M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	186.51	+0.049%	$731K	$421K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	186.26	−0.086%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	186.57	+0.080%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	186.45	+0.016%	$1.6M	$37K	10x	as long as short
BloFin EWY-USDT	+0.0006%	8h	186.47	+0.027%	$48K	$217K	50x	as long as short
Lighter EWY	+0.0032%	1h	186.22	−0.107%	$377K	$40K	20x	as long as short
Popdex EWYUSDT	+0.0048%	1h	186.45	+0.016%	$198K	$154K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	186.33	−0.048%	$6.4M	$14.7M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	186.31	−0.059%	$141K	$120K	25x	as long as short
Polymarket Perps EWY-USDshort	+0.0050%	1h	186.29	−0.070%	$4K	$141	20x
SoDEX EWY-USD	+0.0050%	1h	186.43	+0.005%	$745	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	186.28	−0.075%	$233K	$335K	10x	as long as short
Coinbase International EWY-PERP-INTX	+0.0056%	1h	186.27	−0.080%	$517K	$251K	20x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	186.39	−0.018%	$22	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	186.34	−0.043%	$960K	$603K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	186.50	+0.043%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	186.42	0.000%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0287%	1h	186.35	−0.038%	$3K	$15K	20x	as long as short
edgeX EWYUSDC	+0.0442%	4h	186.45	+0.015%	$418K	$286K	20x	as long as short