Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.043%

Price spread now: Aster against Popdex−0.048%52s7-day average −0.007% · 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—prices read too far apart to compare

costs, in and out, $10k−$240.235% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.048%, 7d avg −0.007%

Together, before fees+0.051%+ Points / potential airdropAster: Stage 5 · 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 Aster is 0.042% cheaper against Popdex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.007%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex EWYUSDT	187.81	0.0048	pay 0.0006% / 1h	25m 42s	$197K	$151K	20x
Short	Aster EWYUSDT	187.72	0	get 0.0000% / 8h	1h 25m	$291K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$10.08
Price spread: −0.048% → −0.007%: −$4.16
Slippage, 4 orders: −$9.13
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$37.77
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Popdex: live order book, 18 min ago; Aster: live order book, 16 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 Popdex live order book, 18 min ago	0.80 bp	5.0 bp −$5	9.3 bp −$93	doesn't fit	doesn't fit
Sell Aster live order book, 16 min ago	1.86 bp	6.9 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit

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	−0.0232%	8h	187.82	+0.005%	$2.7M	$2.3M	20x	as long as short
Aster EWYUSDTshort	0.0000%	8h	187.72	−0.048%	$291K	$12K	20x
Extended EWY_24_5-USD	0.0000%	1h	187.73	−0.040%	$238K	$498K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.77	−0.021%	$27.2M	$81.6M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.79	−0.011%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.70	−0.059%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.84	+0.016%	$4.0M	$4.3M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.76	−0.027%	$8.6M	$4.5M	100x	as long as short
Variational Omni EWY	0.0000%	8h	187.79	−0.010%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	187.74	−0.040%	$742K	$423K	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	187.64	−0.091%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.94	+0.069%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.83	+0.011%	$1.7M	$36K	10x	as long as short
BloFin EWY-USDT	+0.0028%	8h	187.72	−0.048%	$48K	$216K	50x	as long as short
Lighter EWY	+0.0032%	1h	187.65	−0.085%	$380K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0042%	1h	187.51	−0.160%	—	$220K	25x	as long as short
Popdex EWYUSDTlong	+0.0048%	1h	187.81	long leg	$197K	$151K	20x
Coinbase International EWY-PERP-INTX	+0.0048%	1h	187.75	−0.032%	$521K	$274K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.67	−0.075%	$6.3M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.61	−0.106%	$142K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.63	−0.096%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.76	−0.027%	$754	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.50	−0.165%	$223K	$321K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	187.81	0.000%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.50	−0.165%	$966K	$591K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.72	−0.048%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.74	−0.037%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0168%	1h	187.63	−0.096%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0296%	4h	187.85	+0.021%	$421K	$284K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0336%	1h	187.78	−0.016%	$2K	$14K	20x	as long as short