Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.008%

Price spread now: SoDEX against Bitget−0.122%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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. SoDEX 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 3.5 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EWYUSDT	187.91	−0.0067	get 0.0067% / 8h	2h 25m	$2.7M	$2.3M	20x
Short	SoDEX EWY-USD	187.68	0.0050	get 0.0006% / 1h	25m 03s	$732	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.122%Rate

Funding earned: $24.57
Price spread: −0.122% → 0.000%: −$12.24
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$7.67
Costs to cover: 0.200%
Break-even: 9.2 days

Slippage unknown: Bitget: live order book, 2 min ago; SoDEX: 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, 2 min ago	0.80 bp	9.2 bp −$9	13.2 bp −$132	34.6 bp −$3,459	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0136%	1h	187.36	−0.293%	$28K	$12K	20x	as long as short
Bitget EWYUSDTlong	−0.0067%	8h	187.91	long leg	$2.7M	$2.3M	20x
BloFin EWY-USDT	−0.0025%	8h	187.78	−0.069%	$48K	$215K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	187.71	−0.107%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.75	−0.085%	$230K	$491K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.77	−0.075%	$27.2M	$79.7M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.81	−0.053%	$4.9M	$4.6M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.72	−0.101%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.82	−0.048%	$4.1M	$4.1M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.84	−0.037%	$6.8M	$4.0M	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	187.64	−0.142%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	187.89	−0.009%	$743K	$415K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	187.57	−0.181%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.60	−0.165%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.83	−0.043%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	187.56	−0.186%	$380K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	187.35	−0.298%	$521K	$276K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	187.54	−0.197%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.86	−0.027%	$197K	$148K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.72	−0.101%	$6.3M	$14.5M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.53	−0.202%	$87K	$93K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.68	−0.122%	$4K	$126	20x	as long as short
SoDEX EWY-USDshort	+0.0050%	1h	187.68	−0.122%	$732	$4K	10x
Ondo Perps EWY-USD.P	+0.0050%	1h	187.81	−0.053%	$214K	$316K	10x	as long as short
Paradex EWY-USD-PERP	+0.0053%	8h	187.74	−0.088%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.56	−0.186%	$966K	$603K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.57	−0.181%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.68	−0.122%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0448%	4h	187.35	−0.297%	$420K	$284K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0496%	1h	187.72	−0.101%	$2K	$14K	20x	as long as short