Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0229%/8h= +25.1% APRpaid last 24h +0.015%

Price spread now: Deribit against KuCoin−0.042%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Deribit

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. Deribit is 0.042% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EWYUSDTM	190.18	0.0100	pay 0.0100% / 8h	5h 24m	$981K	$628K	20x
Short	Deribit EWY_USDC-PERPETUAL	190.10	0.0329	get 0.0041% / 1h	24m 10s	$2K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now −0.042%Rate

Funding earned: $48.09
Price spread: −0.042% → 0.000%: −$4.21
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $24.88
Costs to cover: 0.190%
Break-even: 3.4 days

Slippage unknown: KuCoin: live order book, 30 min ago; Deribit: 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 KuCoin live order book, 30 min ago	3.68 bp	115.4 bp −$115	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0016%	1h	190.05	−0.068%	$28K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.25	+0.037%	$5.1M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.21	+0.016%	$4.1M	$3.7M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.11	−0.037%	$751K	$391K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.16	−0.011%	—	$2.5M	20x	as long as short
Coinbase International EWY-PERP-INTX	0.0000%	1h	190.20	+0.011%	$531K	$312K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.15	−0.016%	$22K	$36K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.28	+0.053%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.97	−0.110%	$385K	$39K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.30	+0.063%	—	$220K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex EWYUSDT	+0.0048%	1h	190.22	+0.021%	$198K	$145K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.12	−0.032%	$6.1M	$13.9M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.09	−0.047%	$51K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.07	−0.058%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.13	−0.026%	$749	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.06	−0.063%	$198K	$265K	10x	as long as short
Paradex EWY-USD-PERP	+0.0056%	8h	190.13	−0.024%	$23	—	5x	as long as short
Bitget EWYUSDT	+0.0061%	8h	190.27	+0.047%	$2.7M	$2.0M	20x	as long as short
KuCoin EWYUSDTMlong	+0.0100%	8h	190.18	long leg	$981K	$628K	20x
ApeX Omni EWYUSDT	+0.0100%	1h	190.13	−0.026%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.18	0.000%	$2K	$1K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0106%	8h	190.31	+0.068%	$4.1M	$3.5M	50x	as long as short
Aster EWYUSDT	+0.0193%	8h	190.19	+0.007%	$295K	$12K	20x	as long as short
Variational Omni EWY	+0.0237%	8h	190.09	−0.049%	$1.2M	$1.1M	—	as long as short
Extended EWY_24_5-USD	+0.0264%	1h	190.20	+0.011%	$302K	$665K	10x	as long as short
Binance EWYUSDT	+0.0266%	8h	190.26	+0.041%	$28.4M	$77.0M	50x	as long as short
MEXC EWY_USDT	+0.0270%	8h	190.25	+0.037%	$6.5M	$4.2M	100x	as long as short
BloFin EWY-USDT	+0.0289%	8h	190.08	−0.053%	$48K	$214K	50x	as long as short
Deribit EWY_USDC-PERPETUALshort	+0.0329%	1h	190.10	−0.042%	$2K	$13K	20x
edgeX EWYUSDC	+0.0815%	4h	190.08	−0.053%	$426K	$282K	20x	as long as short