Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −0.548%

Price spread now: Hotstuff against Bybit−0.069%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.069% cheaper against Bybit than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.9 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	Bybit EWYUSDT	187.90	0	get 0.0000% / 8h	1h 41m	$4.9M	$4.8M	100x
Short	Hotstuff EWY-PERP	187.77	0.0080	get 0.0010% / 1h	41m 51s	$28K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now −0.069%Rate

Funding earned: $16.8
Price spread: −0.069% → 0.000%: −$6.92
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$6.12
Costs to cover: 0.160%
Break-even: 9.5 days

Slippage unknown: Bybit: live order book, 1 min ago; Hotstuff: 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 Bybit live order book, 1 min ago	0.53 bp	7.9 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Bitget EWYUSDT	−0.0140%	8h	187.92	+0.011%	$2.7M	$2.3M	20x	as long as short
Aster EWYUSDT	0.0000%	8h	187.78	−0.066%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.82	−0.041%	$239K	$498K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.79	−0.058%	$27.2M	$81.9M	50x	as long as short
Bybit EWYUSDTlong	0.0000%	8h	187.90	long leg	$4.9M	$4.8M	100x
OKX EWY-USDT-SWAP	0.0000%	8h	187.83	−0.037%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.89	−0.005%	$4.0M	$4.3M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.87	−0.016%	$8.6M	$4.5M	100x	as long as short
Variational Omni EWY	0.0000%	8h	187.89	−0.004%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.07	+0.091%	$744K	$425K	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	187.79	−0.059%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.97	+0.037%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.93	+0.016%	$1.7M	$36K	10x	as long as short
BloFin EWY-USDT	+0.0013%	8h	188.01	+0.059%	$48K	$216K	50x	as long as short
Lighter EWY	+0.0032%	1h	187.65	−0.133%	$380K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0045%	1h	187.64	−0.138%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.90	0.000%	$197K	$151K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	187.85	−0.027%	$522K	$273K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.76	−0.075%	$6.4M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.85	−0.027%	$143K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.68	−0.117%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.83	−0.037%	$759	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.75	−0.080%	$212K	$317K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	187.86	−0.022%	$23	—	5x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0070%	1h	187.73	−0.090%	$2K	$14K	20x	as long as short
Hotstuff EWY-PERPshort	+0.0080%	1h	187.77	−0.069%	$28K	$12K	20x
KuCoin EWYUSDTM	+0.0100%	8h	187.73	−0.090%	$966K	$597K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.50	−0.213%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.85	−0.027%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0599%	4h	187.98	+0.042%	$421K	$286K	20x	as long as short