Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h −0.566%

Price spread now: Hotstuff against Paradex−0.058%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Hotstuff

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 airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.058% cheaper against Paradex than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 46 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex EWY-USD-PERP	189.84	0.0154	pay 0.0154% / 8h	35m 47s	$23	—	5x
Short	Hotstuff EWY-PERP	189.73	0.0256	get 0.0032% / 1h	35m 47s	$28K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Paradex. 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 ParadexbpFee HotstuffbpOrdersPrice spread, now −0.058%Rate

Funding earned: $21.46
Price spread: −0.058% → 0.000%: −$5.83
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $6.62
Costs to cover: 0.090%
Break-even: 4.8 days

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

Paradex and Hotstuff: 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	189.70	−0.074%	$3.2M	$2.7M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.43	−0.216%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.75	−0.048%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.63	−0.111%	$377K	$62K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.75	−0.048%	—	$217K	25x	as long as short
Entropy io:EWY	+0.0050%	1h	189.52	−0.169%	$51K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.58	−0.137%	$4K	$74	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.73	−0.058%	$778	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.53	−0.164%	$232K	$198K	10x	as long as short
Popdex EWYUSDT	+0.0080%	1h	189.71	−0.069%	$195K	$138K	20x	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	189.59	−0.132%	$965K	$703K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.60	−0.127%	$13K	$262K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.73	−0.058%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.58	−0.137%	$527K	$338K	20x	as long as short
Paradex EWY-USD-PERPlong	+0.0154%	8h	189.84	long leg	$23	—	5x
Bybit EWYUSDT	+0.0154%	8h	189.80	−0.021%	$5.3M	$4.2M	100x	as long as short
tradeXYZ xyz:EWY	+0.0190%	1h	189.72	−0.064%	$6.4M	$14.7M	20x	as long as short
edgeX EWYUSDC	+0.0206%	4h	189.60	−0.127%	$425K	$274K	20x	as long as short
Bitget EWYUSDT	+0.0210%	8h	189.77	−0.037%	$2.6M	$1.6M	20x	as long as short
HTX EWY-USDT	+0.0213%	8h	189.67	−0.090%	$36K	$8K	20x	as long as short
Hotstuff EWY-PERPshort	+0.0256%	1h	189.73	−0.058%	$28K	$12K	20x
OKX EWY-USDT-SWAP	+0.0303%	8h	189.80	−0.021%	$4.0M	$4.1M	50x	as long as short
Aster EWYUSDT	+0.0530%	8h	189.62	−0.114%	$294K	$12K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0541%	1h	189.77	−0.037%	$2K	$13K	20x	as long as short
Variational Omni EWY	+0.0618%	8h	189.71	−0.067%	$1.5M	$983K	—	as long as short
BloFin EWY-USDT	+0.0645%	8h	189.65	−0.100%	$47K	$214K	50x	as long as short
GRVT EWY_USDT_Perp	+0.0647%	8h	189.60	−0.127%	$750K	$399K	10x	as long as short
Extended EWY_24_5-USD	+0.0648%	1h	189.67	−0.091%	$304K	$392K	10x	as long as short
MEXC EWY_USDT	+0.0648%	8h	189.71	−0.069%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0650%	8h	189.71	−0.069%	$28.6M	$79.9M	50x	as long as short