Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Gate−0.090%7-day average — · you buy dearer than you sell

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

Long on Gate 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 0.090% cheaper against Gate than usual: you would sell low and buy high (spread −0.090% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 6.0 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	Gate EWY_USDT	189.20	0	get 0.0000% / 8h	3h 17m	$4.1M	$3.9M	50x
Short	Polymarket Perps EWY-USD	189.03	0.0050	get 0.0006% / 1h	17m 12s	$4K	$126	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Gate. 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 GatebpFee Polymarket PerpsbpOrdersPrice spread, now −0.090%Rate

Funding earned: $10.5
Price spread: −0.090% → 0.000%: −$8.99
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.49
Costs to cover: 0.230%
Break-even: 21.3 days

Slippage unknown: Gate: live order book, 6 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 Gate live order book, 6 min ago	2.11 bp	12.9 bp −$13	17.6 bp −$176	43.7 bp −$4,367	80.7 bp −$40.3K
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	−0.0048%	1h	189.03	−0.090%	$28K	$12K	20x	as long as short
Aster EWYUSDT	0.0000%	8h	189.18	−0.011%	$293K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	189.14	−0.031%	$300K	$651K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	189.25	+0.025%	$27.6M	$77.4M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	189.22	+0.011%	$5.1M	$4.3M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	189.23	+0.016%	$4.3M	$4.0M	50x	as long as short
Gate EWY_USDTlong	0.0000%	8h	189.20	long leg	$4.1M	$3.9M	50x
MEXC EWY_USDT	0.0000%	8h	189.30	+0.053%	$6.2M	$3.8M	100x	as long as short
Bitget EWYUSDT	0.0000%	8h	189.32	+0.063%	$2.7M	$2.2M	20x	as long as short
Variational Omni EWY	0.0000%	8h	189.44	+0.128%	$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	189.46	+0.137%	$749K	$402K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.12	−0.042%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	189.44	+0.127%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.29	+0.048%	$1.7M	$37K	10x	as long as short
BloFin EWY-USDT	0.0000%	8h	189.23	+0.016%	$48K	$214K	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0014%	1h	189.10	−0.053%	$2K	$14K	20x	as long as short
Lighter EWY	+0.0032%	1h	189.02	−0.095%	$383K	$39K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.11	−0.048%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.23	+0.016%	$197K	$147K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	189.35	+0.079%	$527K	$291K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	189.04	−0.085%	$6.1M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.13	−0.037%	$65K	$81K	25x	as long as short
Polymarket Perps EWY-USDshort	+0.0050%	1h	189.03	−0.090%	$4K	$126	20x
SoDEX EWY-USD	+0.0050%	1h	189.10	−0.053%	$734	$4K	10x	as long as short
Paradex EWY-USD-PERP	+0.0050%	8h	189.14	−0.030%	$23	—	5x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.96	−0.127%	$201K	$305K	10x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.13	−0.037%	$974K	$612K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.18	−0.011%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.12	−0.042%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0291%	4h	189.43	+0.121%	$425K	$284K	20x	as long as short