Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0450%/8h= −49.3% APRpaid last 24h −0.056%

Price spread now: Vest against Binance+0.052%57s7-day average −0.014% · you sell dearer than you buy

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

Long on Binance Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 2 days (all we have)+0.015%+$1 · spread now +0.052%, 7d avg −0.014%

Together, before fees−0.024%+ Points / potential airdropVest: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.066% dearer against Binance than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.014%): +$7 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.038% in total) that is about 5.6 days. The two prices were read 57 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 3 days it paid -0.038% in total (about -4.3% 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	Binance EWYUSDT	189.70	0.0496	pay 0.0496% / 8h	6h 35m	$28.3M	$77.5M	50x
Short	Vest EWY-USD-PERP	189.80	0.0046	get 0.0006% / 1h	35m 34s	—	$220K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Binance. 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 BinancebpFee VestbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$94.49
Price spread: +0.052% → −0.014%: $6.55
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$99.93
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 7 min ago; Vest: 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 Binance live order book, 7 min ago	0.26 bp	5.5 bp −$6	7.1 bp −$71	19.6 bp −$1,956	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
Hotstuff EWY-PERP	−0.0128%	1h	189.65	−0.027%	$28K	$12K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	−0.0014%	1h	189.65	−0.027%	$2K	$13K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	189.74	+0.020%	$5.1M	$4.4M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	189.68	−0.012%	$4.0M	$3.6M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	189.60	−0.055%	$749K	$385K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.76	+0.031%	—	$2.6M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	189.65	−0.027%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.71	+0.004%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.54	−0.085%	$384K	$40K	20x	as long as short
Vest EWY-USD-PERPshort	+0.0046%	1h	189.80	+0.052%	—	$220K	25x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex EWYUSDT	+0.0048%	1h	189.72	+0.010%	$197K	$146K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	190.28	+0.305%	$531K	$336K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	189.65	−0.027%	$6.2M	$14.0M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.67	−0.017%	$51K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.52	−0.096%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.61	−0.048%	$631	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.48	−0.117%	$212K	$250K	10x	as long as short
Paradex EWY-USD-PERP	+0.0060%	8h	189.67	−0.015%	$23	—	5x	as long as short
edgeX EWYUSDC	+0.0083%	4h	189.50	−0.105%	$425K	$282K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.61	−0.048%	$976K	$634K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.59	−0.059%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.71	+0.004%	$2K	$1K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0210%	8h	189.70	−0.001%	$4.1M	$3.5M	50x	as long as short
Bitget EWYUSDT	+0.0244%	8h	189.70	−0.001%	$2.8M	$1.9M	20x	as long as short
Aster EWYUSDT	+0.0394%	8h	189.75	+0.026%	$294K	$12K	20x	as long as short
Variational Omni EWY	+0.0472%	8h	189.67	−0.019%	$1.2M	$1.1M	—	as long as short
Binance EWYUSDTlong	+0.0496%	8h	189.70	long leg	$28.3M	$77.5M	50x
MEXC EWY_USDT	+0.0500%	8h	189.68	−0.012%	$7.0M	$4.2M	100x	as long as short
Extended EWY_24_5-USD	+0.0504%	1h	189.66	−0.021%	$302K	$670K	10x	as long as short
BloFin EWY-USDT	+0.0565%	8h	190.43	+0.384%	$2K	$214K	50x	as long as short