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 −0.039%

Price spread now: Entropy against Aster−0.131%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$640.645% of the position

Long on Aster Short on Entropy

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Entropy is 0.131% cheaper against Aster than usual: you would sell low and buy high (spread −0.131% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.8 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	Aster EWYUSDT	188.59	0	get 0.0000% / 8h	2h 05m	$292K	$12K	20x
Short	Entropy io:EWY	188.34	0.0050	get 0.0006% / 1h	5m 57s	$126K	$111K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Aster. 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 AsterbpFee EntropybpOrdersPrice spread, now −0.131%Rate

Funding earned: $10.5
Price spread: −0.131% → 0.000%: −$13.14
Slippage, 4 orders: −$38.48
Fee Aster: 4 bp × 2 orders: −$8
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$67.12
Costs to cover: 0.645%
Break-even: 51.7 days

Slippage from Aster: live order book, 41 min ago; Entropy: live order book, 11 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 Aster live order book, 41 min ago	1.85 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 11 min ago	9.86 bp	24.6 bp −$25	121.9 bp −$1,219	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
Bitget EWYUSDT	−0.0136%	8h	188.49	−0.052%	$2.7M	$2.3M	20x	as long as short
Hotstuff EWY-PERP	−0.0120%	1h	188.50	−0.047%	$28K	$12K	20x	as long as short
BloFin EWY-USDT	−0.0012%	8h	188.57	−0.009%	$47K	$217K	50x	as long as short
Aster EWYUSDTlong	0.0000%	8h	188.59	long leg	$292K	$12K	20x
Extended EWY_24_5-USD	0.0000%	1h	188.48	−0.058%	$241K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.54	−0.027%	$27.4M	$81.2M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.59	+0.001%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.47	−0.062%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.58	−0.004%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.48	−0.057%	$8.9M	$4.2M	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 EWY	0.0000%	8h	188.31	−0.146%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.35	−0.127%	$744K	$426K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	188.60	+0.007%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	188.59	+0.001%	$2K	$14K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	188.45	−0.073%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.59	+0.001%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.51	−0.041%	$382K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	187.91	−0.359%	$523K	$276K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.42	−0.089%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.62	+0.017%	$198K	$151K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.48	−0.057%	$6.3M	$14.4M	20x	as long as short
Entropy io:EWYshort	+0.0050%	1h	188.34	−0.131%	$126K	$111K	25x
Polymarket Perps EWY-USD	+0.0050%	1h	188.41	−0.094%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.56	−0.015%	$741	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.47	−0.062%	$216K	$318K	10x	as long as short
Paradex EWY-USD-PERP	+0.0060%	8h	188.62	+0.017%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.37	−0.115%	$970K	$599K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.37	−0.115%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.60	+0.007%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0835%	4h	188.30	−0.155%	$422K	$284K	20x	as long as short