Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0186%/8h= −20.4% APRpaid last 24h +0.566%

Price spread now: Paradex against Hotstuff+0.114%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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 · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.114% dearer against Hotstuff than usual: you sell high and buy low (spread +0.114% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff EWY-PERP	189.38	0.0320	pay 0.0040% / 1h	12m 58s	$28K	$12K	20x
Short	Paradex EWY-USD-PERP	189.60	0.0134	get 0.0134% / 8h	12m 58s	$23	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Hotstuff. 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 HotstuffbpFee ParadexbpOrdersPrice spread, now +0.114%Rate

Funding earned: −$39.1
Price spread: +0.114% → 0.000%: $11.39
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$36.71
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; Paradex: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Hotstuff and Paradex: 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
Gate EWY_USDT	0.0000%	8h	189.62	+0.127%	$3.8M	$3.1M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.25	−0.069%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.58	+0.106%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.36	−0.011%	$377K	$62K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.63	+0.132%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.52	+0.074%	$194K	$138K	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.55	+0.090%	$51K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.36	−0.011%	$4K	$81	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.50	+0.063%	$771	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.33	−0.026%	$243K	$200K	10x	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	189.56	+0.095%	$966K	$687K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.79	+0.216%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.51	+0.069%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERPshort	+0.0134%	8h	189.60	+0.114%	$23	—	5x
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.41	+0.016%	$527K	$340K	20x	as long as short
tradeXYZ xyz:EWY	+0.0146%	1h	189.50	+0.063%	$6.6M	$14.8M	20x	as long as short
Bybit EWYUSDT	+0.0173%	8h	189.63	+0.132%	$5.3M	$4.1M	100x	as long as short
Bitget EWYUSDT	+0.0224%	8h	189.62	+0.127%	$2.6M	$1.5M	20x	as long as short
HTX EWY-USDT	+0.0224%	8h	189.99	+0.322%	$36K	$8K	20x	as long as short
Hotstuff EWY-PERPlong	+0.0320%	1h	189.38	long leg	$28K	$12K	20x
OKX EWY-USDT-SWAP	+0.0328%	8h	189.61	+0.121%	$4.0M	$4.0M	50x	as long as short
Aster EWYUSDT	+0.0567%	8h	189.46	+0.042%	$294K	$12K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0595%	1h	189.53	+0.079%	$2K	$13K	20x	as long as short
Variational Omni EWY	+0.0661%	8h	189.82	+0.231%	$1.5M	$972K	—	as long as short
GRVT EWY_USDT_Perp	+0.0661%	8h	189.90	+0.276%	$751K	$395K	10x	as long as short
BloFin EWY-USDT	+0.0668%	8h	189.49	+0.058%	$47K	$213K	50x	as long as short
MEXC EWY_USDT	+0.0694%	8h	189.57	+0.100%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0695%	8h	189.58	+0.104%	$28.5M	$78.9M	50x	as long as short
Extended EWY_24_5-USD	+0.0696%	1h	189.51	+0.070%	$298K	$396K	10x	as long as short
edgeX EWYUSDC	+0.0775%	4h	189.81	+0.224%	$425K	$276K	20x	as long as short