Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0161%/8h= +17.6% APRpaid last 24h −0.005%

Price spread now: Entropy against Bitget−0.122%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−$81as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on Bitget 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—needs both histories

Funding pays, the price is against you. Entropy is 0.122% cheaper against Bitget than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 2.5 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EWYUSDT	188.60	−0.0111	get 0.0111% / 8h	2h 01m	$2.7M	$2.3M	20x
Short	Entropy io:EWY	188.37	0.0050	get 0.0006% / 1h	1m 34s	$126K	$111K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now −0.122%Rate

Funding earned: $33.81
Price spread: −0.122% → 0.000%: −$12.2
Slippage, 4 orders: −$39.03
Fee Bitget: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$47.41
Costs to cover: 0.690%
Break-even: 16.8 days

Slippage from Bitget: live order book, 1 min ago; Entropy: live order book, 15 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 Bitget live order book, 1 min ago	1.06 bp	10.3 bp −$10	14.3 bp −$143	30.9 bp −$3,085	75.5 bp −$37.8K
Sell Entropy live order book, 15 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 EWYUSDTlong	−0.0111%	8h	188.60	long leg	$2.7M	$2.3M	20x
Aster EWYUSDT	0.0000%	8h	188.49	−0.060%	$292K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.46	−0.073%	$241K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.53	−0.039%	$27.4M	$81.4M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.57	−0.016%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.47	−0.069%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.55	−0.027%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.54	−0.032%	$8.9M	$4.2M	100x	as long as short
Variational Omni EWY	0.0000%	8h	188.57	−0.015%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.46	−0.076%	$745K	$424K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWY-USDT	0.0000%	8h	188.54	−0.032%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	188.45	−0.080%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.45	−0.080%	$1.7M	$37K	10x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0015%	1h	188.48	−0.064%	$2K	$14K	20x	as long as short
BloFin EWY-USDT	+0.0018%	8h	188.42	−0.095%	$47K	$216K	50x	as long as short
Lighter EWY	+0.0032%	1h	188.38	−0.117%	$382K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	188.39	−0.111%	$523K	$278K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.40	−0.106%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.55	−0.027%	$198K	$151K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.45	−0.080%	$6.3M	$14.4M	20x	as long as short
Entropy io:EWYshort	+0.0050%	1h	188.37	−0.122%	$126K	$111K	25x
Polymarket Perps EWY-USD	+0.0050%	1h	188.40	−0.106%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.43	−0.090%	$745	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.37	−0.122%	$215K	$319K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	188.55	−0.028%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.21	−0.207%	$969K	$598K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.41	−0.101%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.50	−0.053%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0512%	1h	188.34	−0.138%	$28K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0585%	4h	188.41	−0.100%	$422K	$285K	20x	as long as short