Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%
Price spread now: Entropy against Phemex−0.005%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$121as in the Price arb table
costs, in and out, $10k−$1261.260% of the position
Funding, last 4 days (all we have)+0.193%+$19 on $10k
+Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.005%, 7d avg −0.051%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Entropy is 0.046% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.051%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex EWYUSDT | 188.38 | 0 | get 0.0000% / 8h | 4h 55m | $1.7M | $38K | 10x |
| Short | Entropy io:EWY | 188.37 | 0.0050 | get 0.0006% / 1h | 55m 35s | $143K | $118K | 25x |
Phemex EWYUSDT
Entropy io:EWYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Phemex. 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
- $10.5
- Price spread: −0.005% → −0.051%
- $4.6
- Slippage, 4 orders
- −$96.04
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$110.93
- Costs to cover
- 1.260%
- Break-even
- 81.0 days
Slippage from Phemex: live order book, 6 min ago; Entropy: live order book, 42 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 Phemex live order book, 6 min ago | 1.33 bp | 40.2 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
| Sell Entropy live order book, 42 min ago | 5.04 bp | 16.0 bp −$16 | 94.3 bp −$943 | doesn't fit | doesn't fit |
EWY on 30 exchanges
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 | −0.0632% | 1h | 188.38 | 0.000% | $28K | $16K | 20x | as long as short |
| Bybit EWYUSDT | 0.0000% | 8h | 188.47 | +0.048% | $5.0M | $5.0M | 100x | as long as short |
| OKX EWY-USDT-SWAP | 0.0000% | 8h | 188.41 | +0.016% | $4.0M | $4.9M | 50x | as long as short |
| Bitget EWYUSDT | 0.0000% | 8h | 188.47 | +0.048% | $3.2M | $3.2M | 20x | as long as short |
| SunX EWY-USDT | 0.0000% | 8h | 188.12 | −0.138% | — | $1.6M | 20x | as long as short |
| Phemex EWYUSDTlong | 0.0000% | 8h | 188.38 | long leg | $1.7M | $38K | 10x | |
| Deribit EWY_USDC-PERPETUAL | +0.0016% | 1h | 188.33 | −0.027% | $3K | $10K | 20x | as long as short |
| Lighter EWY | +0.0032% | 1h | 188.28 | −0.053% | $382K | $44K | 20x | as long as short |
| Vest EWY-USD-PERP | +0.0046% | 1h | 188.44 | +0.032% | — | $224K | 25x | as long as short |
| Popdex EWYUSDT | +0.0048% | 1h | 188.43 | +0.027% | $201K | $166K | 20x | as long as short |
Hotstuff EWY-PERP
Bybit EWYUSDT
OKX EWY-USDT-SWAP
Bitget EWYUSDT
SunX EWY-USDT
Deribit EWY_USDC-PERPETUAL
Lighter EWY
Vest EWY-USD-PERP
Popdex EWYUSDTShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International EWY-PERP-INTX | +0.0048% | 1h | 188.08 | −0.159% | $523K | $254K | 20x | as long as short |
| tradeXYZ xyz:EWY | +0.0050% | 1h | 188.30 | −0.042% | $5.9M | $14.8M | 20x | as long as short |
| Entropy io:EWYshort | +0.0050% | 1h | 188.37 | −0.005% | $143K | $118K | 25x | |
| SoDEX EWY-USD | +0.0050% | 1h | 188.37 | −0.005% | $770 | $3K | 10x | as long as short |
| Ondo Perps EWY-USD.P | +0.0050% | 1h | 188.19 | −0.101% | $225K | $315K | 10x | as long as short |
| Paradex EWY-USD-PERP | +0.0054% | 8h | 188.45 | +0.039% | $23 | — | 5x | as long as short |
| Gate EWY_USDT | +0.0062% | 8h | 188.44 | +0.032% | $3.9M | $4.9M | 50x | as long as short |
| KuCoin EWYUSDTM | +0.0100% | 8h | 188.26 | −0.064% | $969K | $738K | 20x | as long as short |
| ApeX Omni EWYUSDT | +0.0100% | 1h | 188.45 | +0.037% | $13K | $266K | 50x | as long as short |
| Orderly PERP_EWY_USDC_mythos | +0.0100% | 8h | 188.38 | 0.000% | $2K | $1K | 20x | as long as short |
| Polymarket Perps EWY-USD | +0.0224% | 1h | 188.55 | +0.090% | $4K | $7K | 20x | as long as short |
| edgeX EWYUSDC | +0.0293% | 4h | 188.40 | +0.010% | $422K | $289K | 20x | as long as short |
| Aster EWYUSDT | +0.0366% | 8h | 188.33 | −0.028% | $292K | $14K | 20x | as long as short |
| Variational Omni EWY | +0.0441% | 8h | 188.32 | −0.034% | $1.1M | $943K | — | as long as short |
| BloFin EWY-USDT | +0.0461% | 8h | 188.49 | +0.058% | $49K | $245K | 50x | as long as short |
| Extended EWY_24_5-USD | +0.0464% | 1h | 188.34 | −0.019% | $247K | $1.2M | 10x | as long as short |
| MEXC EWY_USDT | +0.0464% | 8h | 188.41 | +0.016% | $6.8M | $4.5M | 100x | as long as short |
| Binance EWYUSDT | +0.0468% | 8h | 188.42 | +0.021% | $26.1M | $86.2M | 50x | as long as short |
| HTX EWY-USDT | +0.0542% | 8h | 188.66 | +0.149% | $22K | $36K | 20x | as long as short |
| GRVT EWY_USDT_Perp | +0.1027% | 8h | 188.51 | +0.070% | $739K | $412K | 10x | as long as short |
Coinbase International EWY-PERP-INTX
tradeXYZ xyz:EWY
SoDEX EWY-USD
Ondo Perps EWY-USD.P
Paradex EWY-USD-PERP
Gate EWY_USDT
KuCoin EWYUSDTM
ApeX Omni EWYUSDT
Orderly PERP_EWY_USDC_mythos
Polymarket Perps EWY-USD
edgeX EWYUSDC
Aster EWYUSDT
Variational Omni EWY
BloFin EWY-USDT
Extended EWY_24_5-USD
MEXC EWY_USDT
Binance EWYUSDT
HTX EWY-USDT
GRVT EWY_USDT_Perp