Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0280%/8h= +30.7% APRpaid last 24h −0.541%

Price spread now: Hotstuff against Bybit−0.073%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Hotstuff

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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.073% cheaper against Bybit than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 21 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EWYUSDT	190.60	0	get 0.0000% / 8h	4h 38m	$5.2M	$4.2M	100x
Short	Hotstuff EWY-PERP	190.46	0.0280	get 0.0035% / 1h	38m 36s	$29K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now −0.073%Rate

Funding earned: $58.8
Price spread: −0.073% → 0.000%: −$7.35
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $35.45
Costs to cover: 0.160%
Break-even: 2.8 days

Slippage unknown: Bybit: live order book, 4 min ago; Hotstuff: 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 Bybit live order book, 4 min ago	0.52 bp	7.4 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 EWYUSDTlong	0.0000%	8h	190.60	long leg	$5.2M	$4.2M	100x
Gate EWY_USDT	0.0000%	8h	190.61	+0.005%	$4.2M	$3.8M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.69	+0.048%	$754K	$394K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.56	−0.021%	—	$2.5M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	190.53	−0.037%	$2K	$13K	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.72	+0.063%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.56	−0.021%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.47	−0.068%	$386K	$39K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	190.57	−0.016%	$531K	$305K	20x	as long as short
Bitget EWYUSDT	+0.0043%	8h	190.56	−0.021%	$2.7M	$2.0M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest EWY-USD-PERP	+0.0046%	1h	190.71	+0.058%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.55	−0.026%	$198K	$146K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.46	−0.073%	$6.2M	$13.9M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.46	−0.073%	$46K	$59K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.36	−0.126%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.56	−0.021%	$753	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.60	0.000%	$201K	$268K	10x	as long as short
Paradex EWY-USD-PERP	+0.0054%	8h	190.55	−0.025%	$23	—	5x	as long as short
OKX EWY-USDT-SWAP	+0.0062%	8h	190.57	−0.016%	$4.1M	$3.3M	50x	as long as short
Aster EWYUSDT	+0.0080%	8h	190.62	+0.010%	$296K	$12K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.48	−0.063%	$981K	$623K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.54	−0.031%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	190.56	−0.021%	$2K	$1K	20x	as long as short
Variational Omni EWY	+0.0123%	8h	190.65	+0.026%	$1.2M	$1.1M	—	as long as short
edgeX EWYUSDC	+0.0130%	4h	190.55	−0.026%	$427K	$282K	20x	as long as short
Binance EWYUSDT	+0.0155%	8h	190.55	−0.024%	$28.4M	$76.6M	50x	as long as short
Extended EWY_24_5-USD	+0.0160%	1h	190.50	−0.051%	$301K	$669K	10x	as long as short
MEXC EWY_USDT	+0.0160%	8h	190.54	−0.031%	$6.5M	$3.9M	100x	as long as short
BloFin EWY-USDT	+0.0179%	8h	190.57	−0.016%	$48K	$214K	50x	as long as short
Hotstuff EWY-PERPshort	+0.0280%	1h	190.46	−0.073%	$29K	$12K	20x