Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.052%

Price spread now: Polymarket Perps against Variational Omni−0.119%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Polymarket Perps

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Polymarket Perps is 0.119% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.119% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 7.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWY	187.22	0	get 0.0000% / 8h	56m 26s	$1.2M	$1.1M	—
Short	Polymarket Perps EWY-USD	187.00	0.0050	get 0.0006% / 1h	56m 26s	$4K	$126	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Variational Omni. 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 Variational OmnibpFee Polymarket PerpsbpOrdersPrice spread, now −0.119%Rate

Funding earned: $10.5
Price spread: −0.119% → 0.000%: −$11.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$9.37
Costs to cover: 0.080%
Break-even: 13.2 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Polymarket Perps: 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 Variational Omni RFQ quote, 3 min ago	2.24 bp	doesn't fit	4.5 bp −$45	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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	−0.0372%	8h	187.25	+0.015%	$2.7M	$2.4M	20x	as long as short
tradeXYZ xyz:EWY	−0.0022%	1h	187.06	−0.087%	$6.2M	$14.3M	20x	as long as short
BloFin EWY-USDT	−0.0019%	8h	187.21	−0.007%	$48K	$217K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	187.21	−0.006%	$290K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.18	−0.022%	$245K	$608K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.19	−0.015%	$27.1M	$81.5M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.21	−0.007%	$4.9M	$4.9M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	186.90	−0.172%	$4.1M	$4.4M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.28	+0.031%	$4.0M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.23	+0.004%	$8.5M	$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 EWYlong	0.0000%	8h	187.22	long leg	$1.2M	$1.1M	—
GRVT EWY_USDT_Perp	0.0000%	8h	187.25	+0.016%	$740K	$418K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	187.25	+0.015%	—	$2.4M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	187.17	−0.028%	$2K	$14K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.29	+0.036%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.26	+0.020%	$1.7M	$37K	10x	as long as short
Vest EWY-USD-PERP	+0.0019%	1h	186.69	−0.284%	—	$220K	25x	as long as short
Lighter EWY	+0.0032%	1h	187.11	−0.060%	$379K	$40K	20x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.23	+0.004%	$196K	$152K	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.18	−0.023%	$142K	$119K	25x	as long as short
Polymarket Perps EWY-USDshort	+0.0050%	1h	187.00	−0.119%	$4K	$126	20x
SoDEX EWY-USD	+0.0050%	1h	187.21	−0.007%	$746	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.18	−0.023%	$219K	$328K	10x	as long as short
Paradex EWY-USD-PERP	+0.0056%	8h	187.21	−0.009%	$22	—	5x	as long as short
Coinbase International EWY-PERP-INTX	+0.0056%	1h	187.13	−0.049%	$520K	$255K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	186.98	−0.129%	$962K	$598K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.25	+0.015%	$13K	$264K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.23	+0.004%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0128%	1h	187.08	−0.076%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0962%	4h	187.22	−0.001%	$420K	$284K	20x	as long as short