Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.003%

Price spread now: Bybit against SoDEX+0.032%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Bybit

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—needs both histories

The price spread pays, funding is against you. Bybit is 0.032% dearer against SoDEX than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX EWY-USD	190.35	0.0050	pay 0.0006% / 1h	56m 15s	$550	$4K	10x
Short	Bybit EWYUSDT	190.41	0	get 0.0000% / 8h	6h 56m	$5.2M	$4.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$10.5
Price spread: +0.032% → 0.000%: $3.15
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.35
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 1 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.52 bp	7.7 bp −$8	11.5 bp −$115	doesn't fit	doesn't fit

SoDEX: 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
Bybit EWYUSDTshort	0.0000%	8h	190.41	+0.032%	$5.2M	$4.3M	100x
Gate EWY_USDT	0.0000%	8h	190.38	+0.016%	$4.0M	$3.5M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	190.32	−0.016%	—	$2.6M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	190.29	−0.032%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.53	+0.095%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.37	+0.011%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.21	−0.074%	$386K	$34K	20x	as long as short
GRVT EWY_USDT_Perp	+0.0038%	8h	190.62	+0.144%	$754K	$380K	10x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.60	+0.131%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.34	−0.005%	$196K	$141K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International EWY-PERP-INTX	+0.0048%	1h	190.30	−0.026%	$531K	$339K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.31	−0.021%	$6.2M	$14.5M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.37	+0.011%	$52K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.19	−0.084%	$4K	$126	20x	as long as short
SoDEX EWY-USDlong	+0.0050%	1h	190.35	long leg	$550	$4K	10x
Ondo Perps EWY-USD.P	+0.0050%	1h	190.51	+0.084%	$229K	$235K	10x	as long as short
Paradex EWY-USD-PERP	+0.0067%	8h	190.34	−0.004%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.38	+0.016%	$981K	$642K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.48	+0.068%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.44	+0.047%	$2K	$1K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0258%	8h	190.39	+0.021%	$4.2M	$3.5M	50x	as long as short
Hotstuff EWY-PERP	+0.0408%	1h	190.32	−0.016%	$29K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0429%	4h	190.54	+0.099%	$427K	$281K	20x	as long as short
Bitget EWYUSDT	+0.0439%	8h	190.38	+0.016%	$2.8M	$1.6M	20x	as long as short
Aster EWYUSDT	+0.0460%	8h	190.47	+0.064%	$295K	$12K	20x	as long as short
Variational Omni EWY	+0.0552%	8h	190.34	−0.008%	$1.2M	$1.1M	—	as long as short
Extended EWY_24_5-USD	+0.0576%	1h	190.33	−0.008%	$304K	$670K	10x	as long as short
Binance EWYUSDT	+0.0580%	8h	190.39	+0.023%	$28.5M	$77.4M	50x	as long as short
MEXC EWY_USDT	+0.0586%	8h	190.38	+0.016%	$7.0M	$4.1M	100x	as long as short
BloFin EWY-USDT	+0.0590%	8h	190.42	+0.037%	$2K	$214K	50x	as long as short