Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0398%/8h= +43.6% APRpaid last 24h +0.008%

Price spread now: Bitget against tradeXYZ+0.031%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 7 days−0.006%−$1 · spread now +0.031%, 7d avg +0.088%

Together, before fees−0.101%+ Points / potential airdroptradeXYZ: Active · farm board−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.057% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.088%). If the spread goes back, that is −$6 on $10k: about 11 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.095%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.095% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:EWY	190.48	0.0050	pay 0.0006% / 1h	58m 44s	$6.2M	$14.5M	20x
Short	Bitget EWYUSDT	190.54	0.0448	get 0.0448% / 8h	6h 58m	$2.8M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. 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 tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.031%Rate

Funding earned: $83.58
Price spread: +0.031% → +0.088%: −$5.69
Slippage, 4 orders: −$9.67
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: $38.22
Costs to cover: 0.397%
Break-even: 3.8 days

Slippage from tradeXYZ: live order book, 10 min ago; Bitget: live order book, 4 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 tradeXYZ live order book, 10 min ago	0.52 bp	10.1 bp −$10	12.7 bp −$127	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.31 bp	9.6 bp −$10	15.2 bp −$152	30.5 bp −$3,054	75.8 bp −$37.9K

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
Deribit EWY_USDC-PERPETUAL	−0.0065%	1h	190.53	+0.026%	$2K	$13K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	190.59	+0.058%	$5.2M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.51	+0.016%	$4.0M	$3.5M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	190.57	+0.047%	—	$2.6M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.76	+0.147%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.51	+0.016%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.34	−0.073%	$386K	$34K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.78	+0.157%	—	$220K	25x	as long as short
GRVT EWY_USDT_Perp	+0.0047%	8h	190.56	+0.041%	$753K	$380K	10x	as long as short
Entropy io:EWY	+0.0047%	1h	190.48	0.000%	$52K	$57K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex EWYUSDT	+0.0048%	1h	190.58	+0.052%	$196K	$142K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	190.43	−0.026%	$531K	$340K	20x	as long as short
tradeXYZ xyz:EWYlong	+0.0050%	1h	190.48	long leg	$6.2M	$14.5M	20x
Polymarket Perps EWY-USD	+0.0050%	1h	190.43	−0.026%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.55	+0.037%	$538	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.51	+0.016%	$229K	$235K	10x	as long as short
Paradex EWY-USD-PERP	+0.0068%	8h	190.57	+0.046%	$23	—	5x	as long as short
Hotstuff EWY-PERP	+0.0096%	1h	190.53	+0.026%	$29K	$12K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.43	−0.026%	$981K	$644K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.45	−0.016%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.63	+0.079%	$2K	$1K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0266%	8h	190.48	0.000%	$4.2M	$3.5M	50x	as long as short
Bitget EWYUSDTshort	+0.0448%	8h	190.54	+0.031%	$2.8M	$1.7M	20x
Aster EWYUSDT	+0.0473%	8h	190.62	+0.073%	$296K	$12K	20x	as long as short
Variational Omni EWY	+0.0566%	8h	190.51	+0.017%	$1.2M	$1.1M	—	as long as short
BloFin EWY-USDT	+0.0568%	8h	190.60	+0.063%	$2K	$214K	50x	as long as short
Binance EWYUSDT	+0.0589%	8h	190.53	+0.024%	$28.5M	$77.4M	50x	as long as short
Extended EWY_24_5-USD	+0.0592%	1h	190.46	−0.009%	$304K	$670K	10x	as long as short
MEXC EWY_USDT	+0.0595%	8h	190.50	+0.010%	$7.0M	$4.1M	100x	as long as short
edgeX EWYUSDC	+0.0962%	4h	190.56	+0.045%	$427K	$283K	20x	as long as short