Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.055%

Price spread now: MEXC against SoDEX+0.106%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 MEXC

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. MEXC is 0.106% dearer against SoDEX than usual: you sell high and buy low (spread +0.106% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX EWY-USD	188.42	0.0050	pay 0.0006% / 1h	7m 32s	$734	$4K	10x
Short	MEXC EWY_USDT	188.62	0	get 0.0000% / 8h	2h 07m	$8.9M	$4.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$10.5
Price spread: +0.106% → 0.000%: $10.61
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$7.89
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SoDEX: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.27 bp	0.3 bp $0	0.3 bp −$3	2.8 bp −$281	99.1 bp −$49.5K

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
Bitget EWYUSDT	−0.0144%	8h	188.63	+0.111%	$2.7M	$2.3M	20x	as long as short
Hotstuff EWY-PERP	−0.0120%	1h	188.50	+0.042%	$28K	$12K	20x	as long as short
BloFin EWY-USDT	−0.0012%	8h	188.39	−0.016%	$47K	$216K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	188.68	+0.136%	$293K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.61	+0.099%	$241K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.66	+0.127%	$27.4M	$81.2M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.72	+0.159%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.56	+0.074%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.66	+0.127%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDTshort	0.0000%	8h	188.62	+0.106%	$8.9M	$4.2M	100x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWY	0.0000%	8h	188.31	−0.057%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.35	−0.038%	$744K	$426K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	188.36	−0.032%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	188.45	+0.016%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.42	0.000%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.50	+0.042%	$382K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	187.91	−0.271%	$523K	$277K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.22	−0.106%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.66	+0.127%	$198K	$151K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.54	+0.064%	$6.3M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.30	−0.064%	$125K	$111K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	188.25	−0.090%	$4K	$126	20x	as long as short
SoDEX EWY-USDlong	+0.0050%	1h	188.42	long leg	$734	$4K	10x
Ondo Perps EWY-USD.P	+0.0050%	1h	188.17	−0.133%	$216K	$318K	10x	as long as short
Paradex EWY-USD-PERP	+0.0060%	8h	188.73	+0.164%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.40	−0.011%	$970K	$599K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.37	−0.027%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.41	−0.005%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0175%	1h	188.38	−0.021%	$2K	$14K	20x	as long as short
edgeX EWYUSDC	+0.0835%	4h	188.30	−0.066%	$422K	$284K	20x	as long as short