Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0468%/8h= +51.3% APRpaid last 24h +0.038%

Price spread now: BloFin against ApeX Omni+0.063%103s7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$920.920% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.063%, 7d avg +0.025%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BloFin is 0.038% dearer against ApeX Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.025%. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.029% in total (about -1.5% 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	ApeX Omni EWYUSDT	190.48	0.0100	pay 0.0013% / 1h	57m 16s	$13K	$264K	50x
Short	BloFin EWY-USDT	190.60	0.0568	get 0.0568% / 8h	6h 57m	$2K	$214K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.063%Rate

Funding earned: $98.38
Price spread: +0.063% → +0.025%: $3.81
Slippage, 4 orders: −$69.98
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $10.21
Costs to cover: 0.920%
Break-even: 6.3 days

Slippage from ApeX Omni: live order book, 10 min ago; BloFin: live order book, 3 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 ApeX Omni live order book, 10 min ago	28.60 bp	40.3 bp −$40	194.9 bp −$1,949	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.26 bp	6.3 bp −$6	7.4 bp −$74	13.3 bp −$1,334	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
Bybit EWYUSDT	0.0000%	8h	190.42	−0.031%	$5.2M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.42	−0.031%	$4.0M	$3.5M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	190.37	−0.058%	—	$2.6M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	190.33	−0.079%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.53	+0.026%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.34	−0.073%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.21	−0.142%	$386K	$34K	20x	as long as short
GRVT EWY_USDT_Perp	+0.0038%	8h	190.62	+0.075%	$754K	$380K	10x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.65	+0.089%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.42	−0.031%	$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	190.43	−0.026%	$531K	$340K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.34	−0.073%	$6.2M	$14.5M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.41	−0.037%	$52K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.25	−0.121%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.32	−0.084%	$547	$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	+0.0067%	8h	190.38	−0.054%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.42	−0.031%	$981K	$644K	20x	as long as short
ApeX Omni EWYUSDTlong	+0.0100%	1h	190.48	long leg	$13K	$264K	50x
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.41	−0.037%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0160%	1h	190.39	−0.047%	$29K	$12K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0260%	8h	190.37	−0.058%	$4.2M	$3.5M	50x	as long as short
edgeX EWYUSDC	+0.0429%	4h	190.54	+0.031%	$427K	$281K	20x	as long as short
Bitget EWYUSDT	+0.0443%	8h	190.39	−0.047%	$2.8M	$1.7M	20x	as long as short
Aster EWYUSDT	+0.0465%	8h	190.51	+0.015%	$295K	$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-USDTshort	+0.0568%	8h	190.60	+0.063%	$2K	$214K	50x
Extended EWY_24_5-USD	+0.0584%	1h	190.32	−0.084%	$304K	$670K	10x	as long as short
Binance EWYUSDT	+0.0586%	8h	190.38	−0.054%	$28.5M	$77.3M	50x	as long as short
MEXC EWY_USDT	+0.0588%	8h	190.38	−0.052%	$7.0M	$4.1M	100x	as long as short