Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.004%

Price spread now: Entropy against HTX−0.133%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Entropy

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—needs both histories

Funding pays, the price is against you. Entropy is 0.133% cheaper against HTX than usual: you would sell low and buy high (spread −0.133% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.9 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	HTX EWY-USDT	188.22	0	get 0.0000% / 8h	1h 51m	$22K	$35K	20x
Short	Entropy io:EWY	187.97	0.0050	get 0.0006% / 1h	51m 28s	$143K	$119K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against HTX. 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 HTXbpFee EntropybpOrdersPrice spread, now −0.133%Rate

Funding earned: $10.5
Price spread: −0.133% → 0.000%: −$13.28
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$32.78
Costs to cover: 0.300%
Break-even: 28.9 days

Slippage unknown: HTX: no order-book sample; Entropy: live order book, 25 min ago. 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 HTX no order-book sample	—	—	—	—	—
Sell Entropy live order book, 25 min ago	9.86 bp	24.6 bp −$25	121.9 bp −$1,219	doesn't fit	doesn't fit

HTX: 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	−0.0110%	8h	188.07	−0.080%	$2.7M	$2.3M	20x	as long as short
Aster EWYUSDT	0.0000%	8h	187.97	−0.134%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.96	−0.140%	$241K	$496K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.02	−0.108%	$27.3M	$81.6M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.03	−0.101%	$4.9M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.94	−0.149%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.04	−0.096%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.05	−0.090%	$7.9M	$4.2M	100x	as long as short
Variational Omni EWY	0.0000%	8h	188.18	−0.020%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.11	−0.058%	$744K	$419K	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	187.97	−0.133%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	187.94	−0.149%	$2K	$14K	20x	as long as short
HTX EWY-USDTlong	0.0000%	8h	188.22	long leg	$22K	$35K	20x
Phemex EWYUSDT	0.0000%	8h	188.01	−0.112%	$1.7M	$37K	10x	as long as short
BloFin EWY-USDT	+0.0022%	8h	188.13	−0.048%	$48K	$216K	50x	as long as short
Lighter EWY	+0.0032%	1h	187.85	−0.197%	$381K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	187.81	−0.218%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.07	−0.080%	$197K	$150K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	188.61	+0.207%	$524K	$274K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.92	−0.159%	$6.3M	$14.3M	20x	as long as short
Entropy io:EWYshort	+0.0050%	1h	187.97	−0.133%	$143K	$119K	25x
Polymarket Perps EWY-USD	+0.0050%	1h	187.86	−0.191%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.94	−0.149%	$754	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.83	−0.207%	$214K	$307K	10x	as long as short
Paradex EWY-USD-PERP	+0.0060%	8h	188.03	−0.104%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.92	−0.159%	$968K	$598K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.17	−0.027%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.01	−0.112%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0328%	1h	187.98	−0.128%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0437%	4h	188.05	−0.091%	$422K	$285K	20x	as long as short