Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.013%

Price spread now: KuCoin against Coinbase International−0.069%51s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$262as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2672.673% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.069%, 7d avg +0.023%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.092% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of +0.023%). If the spread goes back, that is −$9 on $10k: about 5.9 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.049% in total) that is about 13 days. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International EWY-PERP-INTX	188.19	0.0048	pay 0.0006% / 1h	7m 30s	$523K	$256K	20x
Short	KuCoin EWYUSDTM	188.06	0.0100	get 0.0100% / 8h	4h 07m	$968K	$774K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −0.069%Rate

Funding earned: $10.92
Price spread: −0.069% → +0.023%: −$9.24
Slippage, 4 orders: −$245.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$265.64
Costs to cover: 2.673%
Break-even: 177.3 days

Slippage from Coinbase International: live order book, 34 min ago; KuCoin: live order book, 20 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 Coinbase International live order book, 34 min ago	0.27 bp	6.0 bp −$6	9.9 bp −$99	doesn't fit	doesn't fit
Sell KuCoin live order book, 20 min ago	2.39 bp	85.9 bp −$86	doesn't fit	doesn't fit	doesn't fit

EWY on 30 exchanges

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	188.20	+0.005%	$5.0M	$5.1M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.18	−0.005%	$4.0M	$4.9M	50x	as long as short
Bitget EWYUSDT	0.0000%	8h	188.20	+0.005%	$3.3M	$3.4M	20x	as long as short
SunX EWY-USDT	0.0000%	8h	187.92	−0.143%	—	$1.6M	20x	as long as short
Deribit EWY_USDC-PERPETUAL	0.0000%	1h	188.12	−0.037%	$2K	$8K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.22	+0.016%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.04	−0.080%	$381K	$44K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.20	+0.005%	—	$224K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.12	−0.037%	$202K	$177K	20x	as long as short
Coinbase International EWY-PERP-INTXlong	+0.0048%	1h	188.19	long leg	$523K	$256K	20x

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:EWY	+0.0050%	1h	188.08	−0.058%	$5.8M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.16	−0.016%	$160K	$128K	25x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.18	−0.005%	$761	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.06	−0.069%	$205K	$338K	10x	as long as short
Paradex EWY-USD-PERP	+0.0053%	8h	188.26	+0.038%	$23	—	5x	as long as short
Gate EWY_USDT	+0.0080%	8h	188.27	+0.043%	$3.9M	$5.1M	50x	as long as short
KuCoin EWYUSDTMshort	+0.0100%	8h	188.06	−0.069%	$968K	$774K	20x
ApeX Omni EWYUSDT	+0.0100%	1h	188.22	+0.016%	$13K	$266K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.19	0.000%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERP	+0.0200%	1h	188.16	−0.016%	$28K	$17K	20x	as long as short
Polymarket Perps EWY-USD	+0.0245%	1h	188.30	+0.058%	$4K	$10K	20x	as long as short
Aster EWYUSDT	+0.0516%	8h	188.15	−0.021%	$291K	$14K	20x	as long as short
HTX EWY-USDT	+0.0528%	8h	188.46	+0.143%	$22K	$36K	20x	as long as short
Variational Omni EWY	+0.0596%	8h	188.16	−0.014%	$1.1M	$944K	—	as long as short
Extended EWY_24_5-USD	+0.0624%	1h	188.07	−0.064%	$247K	$1.5M	10x	as long as short
MEXC EWY_USDT	+0.0626%	8h	188.15	−0.021%	$6.7M	$4.8M	100x	as long as short
Binance EWYUSDT	+0.0629%	8h	188.14	−0.029%	$25.9M	$87.2M	50x	as long as short
BloFin EWY-USDT	+0.0648%	8h	188.23	+0.021%	$48K	$249K	50x	as long as short
edgeX EWYUSDC	+0.0836%	4h	188.18	−0.004%	$422K	$295K	20x	as long as short
GRVT EWY_USDT_Perp	+0.1007%	8h	188.31	+0.063%	$738K	$413K	10x	as long as short