Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Lighter−0.005%7-day average +0.072% · you buy dearer than you sell
Net, funding: paid 7d − costs−$118as in the Funding arb table
Net, price: spread back to 7d avg − costs−$118as in the Price arb table
costs, in and out, $10k−$1101.101% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 3 days (all we have)+0.033%+$3 · spread now −0.005%, 7d avg +0.072%
=Together, before fees−0.050%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.077% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.072%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter EWY | 190.25 | 0.0032 | pay 0.0004% / 1h | 50m 22s | $386K | $39K | 20x |
| Short | Phemex EWYUSDT | 190.24 | 0 | get 0.0000% / 8h | 5h 50m | $1.7M | $38K | 10x |
Lighter EWY
Phemex EWYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.72
- Price spread: −0.005% → +0.072%
- −$7.69
- Slippage, 4 orders
- −$98.13
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$124.54
- Costs to cover
- 1.101%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Phemex: live order book, 3 min ago.
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 Lighter live order book, 4 min ago | 1.84 bp | 4.0 bp −$4 | 16.4 bp −$164 | 50.2 bp −$5,025 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 1.58 bp | 50.8 bp −$51 | doesn't fit | doesn't fit | doesn't fit |
EWY on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit EWYUSDT | 0.0000% | 8h | 190.34 | +0.047% | $5.1M | $4.3M | 100x | as long as short |
| Gate EWY_USDT | 0.0000% | 8h | 190.30 | +0.026% | $4.0M | $3.7M | 50x | as long as short |
| GRVT EWY_USDT_Perp | 0.0000% | 8h | 190.28 | +0.018% | $752K | $389K | 10x | as long as short |
| SunX EWY-USDT | 0.0000% | 8h | 190.25 | 0.000% | — | $2.5M | 20x | as long as short |
| Deribit EWY_USDC-PERPETUAL | 0.0000% | 1h | 190.28 | +0.016% | $2K | $13K | 20x | as long as short |
| Coinbase International EWY-PERP-INTX | 0.0000% | 1h | 189.56 | −0.363% | $529K | $318K | 20x | as long as short |
| HTX EWY-USDT | 0.0000% | 8h | 190.47 | +0.116% | $22K | $36K | 20x | as long as short |
| Phemex EWYUSDTshort | 0.0000% | 8h | 190.24 | −0.005% | $1.7M | $38K | 10x | |
| Lighter EWYlong | +0.0032% | 1h | 190.25 | long leg | $386K | $39K | 20x | |
| Vest EWY-USD-PERP | +0.0046% | 1h | 190.52 | +0.142% | — | $220K | 25x | as long as short |
Bybit EWYUSDT
Gate EWY_USDT
GRVT EWY_USDT_Perp
SunX EWY-USDT
Deribit EWY_USDC-PERPETUAL
Coinbase International EWY-PERP-INTX
HTX EWY-USDT
Vest EWY-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex EWYUSDT | +0.0048% | 1h | 190.32 | +0.037% | $198K | $146K | 20x | as long as short |
| tradeXYZ xyz:EWY | +0.0050% | 1h | 190.25 | 0.000% | $6.1M | $14.0M | 20x | as long as short |
| Entropy io:EWY | +0.0050% | 1h | 190.25 | 0.000% | $52K | $57K | 25x | as long as short |
| Polymarket Perps EWY-USD | +0.0050% | 1h | 190.14 | −0.058% | $4K | $126 | 20x | as long as short |
| SoDEX EWY-USD | +0.0050% | 1h | 190.27 | +0.011% | $741 | $4K | 10x | as long as short |
| Ondo Perps EWY-USD.P | +0.0050% | 1h | 190.31 | +0.032% | $198K | $275K | 10x | as long as short |
| Paradex EWY-USD-PERP | +0.0059% | 8h | 190.44 | +0.101% | $23 | — | 5x | as long as short |
| Bitget EWYUSDT | +0.0090% | 8h | 190.30 | +0.026% | $2.7M | $2.0M | 20x | as long as short |
| KuCoin EWYUSDTM | +0.0100% | 8h | 190.26 | +0.005% | $980K | $627K | 20x | as long as short |
| ApeX Omni EWYUSDT | +0.0100% | 1h | 190.29 | +0.021% | $13K | $264K | 50x | as long as short |
| Orderly PERP_EWY_USDC_mythos | +0.0100% | 8h | 190.30 | +0.026% | $2K | $1K | 20x | as long as short |
| OKX EWY-USDT-SWAP | +0.0138% | 8h | 190.30 | +0.026% | $4.1M | $3.5M | 50x | as long as short |
| Aster EWYUSDT | +0.0269% | 8h | 190.39 | +0.074% | $295K | $12K | 20x | as long as short |
| Hotstuff EWY-PERP | +0.0272% | 1h | 190.35 | +0.053% | $29K | $12K | 20x | as long as short |
| Variational Omni EWY | +0.0325% | 8h | 190.41 | +0.083% | $1.2M | $1.1M | — | as long as short |
| Binance EWYUSDT | +0.0350% | 8h | 190.37 | +0.062% | $28.4M | $77.0M | 50x | as long as short |
| MEXC EWY_USDT | +0.0351% | 8h | 190.32 | +0.037% | $6.4M | $4.2M | 100x | as long as short |
| Extended EWY_24_5-USD | +0.0352% | 1h | 190.31 | +0.030% | $302K | $665K | 10x | as long as short |
| edgeX EWYUSDC | +0.0950% | 4h | 190.24 | −0.004% | $426K | $283K | 20x | as long as short |
Popdex EWYUSDT
tradeXYZ xyz:EWY
Entropy io:EWY
Polymarket Perps EWY-USD
SoDEX EWY-USD
Ondo Perps EWY-USD.P
Paradex EWY-USD-PERP
Bitget EWYUSDT
KuCoin EWYUSDTM
ApeX Omni EWYUSDT
Orderly PERP_EWY_USDC_mythos
OKX EWY-USDT-SWAP
Aster EWYUSDT
Hotstuff EWY-PERP
Variational Omni EWY
Binance EWYUSDT
MEXC EWY_USDT
Extended EWY_24_5-USD
edgeX EWYUSDC