Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.044%

Price spread now: Deribit against Bitget−0.048%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Deribit

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—needs both histories

Funding pays, the price is against you. Deribit is 0.048% cheaper against Bitget than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 40 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EWYUSDT	189.14	0.0132	pay 0.0132% / 8h	1h 47m	$2.5M	$1.4M	20x
Short	Deribit EWY_USDC-PERPETUAL	189.05	0.0226	get 0.0028% / 1h	47m 54s	$2K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.048%Rate

Funding earned: $19.8
Price spread: −0.048% → 0.000%: −$4.76
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$3.96
Costs to cover: 0.190%
Break-even: 8.4 days

Slippage unknown: Bitget: live order book, 4 min ago; Deribit: 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 Bitget live order book, 4 min ago	0.53 bp	10.4 bp −$10	12.7 bp −$127	23.9 bp −$2,392	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Bybit EWYUSDT	0.0000%	8h	189.19	+0.026%	$5.2M	$4.1M	100x	as long as short
Hotstuff EWY-PERP	0.0000%	1h	189.02	−0.063%	$28K	$12K	20x	as long as short
Gate EWY_USDT	0.0000%	8h	189.06	−0.042%	$3.2M	$2.8M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	188.71	−0.227%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.04	−0.053%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.94	−0.106%	$376K	$95K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.15	+0.005%	—	$217K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.11	−0.016%	$194K	$138K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.99	−0.079%	$6.4M	$14.8M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.98	−0.085%	$49K	$36K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps EWY-USD	+0.0050%	1h	188.95	−0.100%	$4K	$38	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.06	−0.042%	$782	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.97	−0.090%	$221K	$181K	10x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.99	−0.079%	$958K	$724K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.72	−0.222%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.06	−0.042%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERP	+0.0117%	8h	189.30	+0.082%	$23	—	5x	as long as short
Coinbase International EWY-PERP-INTX	+0.0120%	1h	189.06	−0.042%	$524K	$329K	20x	as long as short
HTX EWY-USDT	+0.0128%	8h	189.10	−0.021%	$36K	$8K	20x	as long as short
Bitget EWYUSDTlong	+0.0132%	8h	189.14	long leg	$2.5M	$1.4M	20x
OKX EWY-USDT-SWAP	+0.0190%	8h	189.18	+0.021%	$4.0M	$4.0M	50x	as long as short
Deribit EWY_USDC-PERPETUALshort	+0.0226%	1h	189.05	−0.048%	$2K	$13K	20x
Aster EWYUSDT	+0.0374%	8h	188.91	−0.120%	$293K	$12K	20x	as long as short
Variational Omni EWY	+0.0411%	8h	189.03	−0.059%	$1.4M	$899K	—	as long as short
MEXC EWY_USDT	+0.0464%	8h	189.05	−0.048%	$7.5M	$4.5M	100x	as long as short
Binance EWYUSDT	+0.0471%	8h	189.07	−0.039%	$28.4M	$79.6M	50x	as long as short
Extended EWY_24_5-USD	+0.0472%	1h	189.00	−0.072%	$304K	$410K	10x	as long as short
BloFin EWY-USDT	+0.0478%	8h	189.06	−0.042%	$47K	$214K	50x	as long as short
GRVT EWY_USDT_Perp	+0.0571%	8h	189.06	−0.045%	$748K	$401K	10x	as long as short
edgeX EWYUSDC	+0.0779%	4h	189.05	−0.047%	$423K	$274K	20x	as long as short