Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.030%

Price spread now: Extended against Variational Omni−0.128%7-day average −0.021% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 3 days (all we have)+0.102%+$10 · spread now −0.128%, 7d avg −0.021%

Together, before fees+0.133%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.107% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.021%). If the spread goes back, that is −$11 on $10k: about 10 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWY	189.82	0.0661	pay 0.0661% / 8h	14m 36s	$1.5M	$972K	—
Short	Extended EWY_24_5-USD	189.57	0.0696	get 0.0087% / 1h	14m 36s	$298K	$396K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now −0.128%Rate

Funding earned: $7.39
Price spread: −0.128% → −0.021%: −$10.73
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$8.33
Costs to cover: 0.050%
Break-even: 14.9 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Extended: live order book, 63 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 Variational Omni RFQ quote, 4 min ago	2.24 bp	doesn't fit	10.3 bp −$103	doesn't fit	doesn't fit
Sell Extended live order book, 63 min ago	0.03 bp	2.9 bp −$3	7.2 bp −$72	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
Gate EWY_USDT	0.0000%	8h	189.78	−0.020%	$3.6M	$3.1M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.52	−0.157%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.84	+0.012%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.57	−0.130%	$377K	$62K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.78	−0.020%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.63	−0.099%	$195K	$138K	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.64	−0.093%	$51K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.42	−0.209%	$4K	$81	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.83	+0.007%	$775	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.65	−0.088%	$243K	$199K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin EWYUSDTM	+0.0100%	8h	189.75	−0.036%	$967K	$687K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.88	+0.033%	$13K	$262K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.82	+0.001%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERP	+0.0134%	8h	189.82	+0.004%	$23	—	5x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.88	+0.033%	$527K	$341K	20x	as long as short
tradeXYZ xyz:EWY	+0.0146%	1h	189.66	−0.083%	$6.7M	$14.7M	20x	as long as short
Bybit EWYUSDT	+0.0171%	8h	189.68	−0.072%	$5.2M	$4.1M	100x	as long as short
Bitget EWYUSDT	+0.0224%	8h	189.67	−0.078%	$2.6M	$1.5M	20x	as long as short
HTX EWY-USDT	+0.0225%	8h	189.99	+0.091%	$36K	$8K	20x	as long as short
Hotstuff EWY-PERP	+0.0320%	1h	189.62	−0.104%	$28K	$12K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0326%	8h	189.67	−0.078%	$4.0M	$4.0M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0330%	1h	189.88	+0.033%	$2K	$13K	20x	as long as short
Aster EWYUSDT	+0.0566%	8h	189.62	−0.106%	$294K	$12K	20x	as long as short
Variational Omni EWYlong	+0.0661%	8h	189.82	long leg	$1.5M	$972K	—
GRVT EWY_USDT_Perp	+0.0661%	8h	189.90	+0.045%	$751K	$395K	10x	as long as short
BloFin EWY-USDT	+0.0674%	8h	189.83	+0.007%	$47K	$214K	50x	as long as short
MEXC EWY_USDT	+0.0692%	8h	189.67	−0.078%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0694%	8h	189.59	−0.120%	$28.5M	$79.2M	50x	as long as short
Extended EWY_24_5-USDshort	+0.0696%	1h	189.57	−0.128%	$298K	$396K	10x
edgeX EWYUSDC	+0.0771%	4h	189.89	+0.036%	$425K	$276K	20x	as long as short