Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.008%

Price spread now: Paradex against Popdex−0.031%7-day average — · you buy dearer than you sell

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

Long on Popdex Short on Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.031% cheaper against Popdex than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 9.5 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex EWYUSDT	186.48	0.0048	pay 0.0006% / 1h	3m 15s	$198K	$154K	20x
Short	Paradex EWY-USD-PERP	186.42	0.0059	get 0.0059% / 8h	3m 15s	$22	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.031%Rate

Funding earned: $2.27
Price spread: −0.031% → 0.000%: −$3.09
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$11.22
Costs to cover: 0.104%
Break-even: 41.6 days

Slippage unknown: Popdex: live order book, 35 min ago; Paradex: 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 Popdex live order book, 35 min ago	0.53 bp	6.4 bp −$6	9.7 bp −$97	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−4.4720%	1h	186.32	−0.086%	$28K	$15K	20x	as long as short
Bitget EWYUSDT	−0.0608%	8h	186.57	+0.048%	$3.1M	$2.6M	20x	as long as short
Vest EWY-USD-PERP	−0.0030%	1h	185.90	−0.311%	—	$220K	25x	as long as short
Aster EWYUSDT	0.0000%	8h	186.48	−0.002%	$289K	$13K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	186.41	−0.039%	$237K	$915K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	186.45	−0.014%	$27.0M	$83.2M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	186.50	+0.011%	$4.9M	$4.9M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	186.48	0.000%	$4.1M	$4.7M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	186.53	+0.027%	$4.1M	$4.5M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	186.46	−0.011%	$7.9M	$4.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWY	0.0000%	8h	186.48	0.000%	$1.1M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	186.51	+0.017%	$731K	$421K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	186.31	−0.091%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	186.61	+0.070%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	186.50	+0.011%	$1.6M	$37K	10x	as long as short
BloFin EWY-USDT	+0.0006%	8h	186.47	−0.005%	$48K	$217K	50x	as long as short
Lighter EWY	+0.0032%	1h	186.31	−0.091%	$378K	$40K	20x	as long as short
Popdex EWYUSDTlong	+0.0048%	1h	186.48	long leg	$198K	$154K	20x
tradeXYZ xyz:EWY	+0.0050%	1h	186.32	−0.086%	$6.4M	$14.7M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	186.31	−0.091%	$141K	$120K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	186.30	−0.097%	$4K	$141	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	186.46	−0.011%	$745	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	186.28	−0.107%	$233K	$335K	10x	as long as short
Coinbase International EWY-PERP-INTX	+0.0056%	1h	186.49	+0.005%	$517K	$250K	20x	as long as short
Paradex EWY-USD-PERPshort	+0.0059%	8h	186.42	−0.031%	$22	—	5x
Deribit EWY_USDC-PERPETUAL	+0.0072%	1h	186.40	−0.043%	$2K	$14K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	186.37	−0.059%	$960K	$603K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	186.50	+0.011%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	186.45	−0.016%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0442%	4h	186.45	−0.017%	$418K	$286K	20x	as long as short