Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0474%/8h= +51.9% APRpaid last 24h +0.048%

Price spread now: MEXC against Coinbase International+0.142%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$170.168% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.142%, 7d avg +0.077%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and MEXC is 0.065% dearer against Coinbase International than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.077%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.025% in total (about 1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International EWY-PERP-INTX	190.67	0.0144	pay 0.0018% / 1h	22m 14s	$532K	$340K	20x
Short	MEXC EWY_USDT	190.94	0.0618	get 0.0618% / 8h	7h 22m	$7.4M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.142%Rate

Funding earned: $99.54
Price spread: +0.142% → +0.077%: $6.45
Slippage, 4 orders: −$6.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $89.19
Costs to cover: 0.168%
Break-even: 0.7 days

Slippage from Coinbase International: live order book, 51 min ago; MEXC: live order book, 1 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, 51 min ago	2.90 bp	7.9 bp −$8	12.8 bp −$128	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.26 bp	0.3 bp $0	0.4 bp −$4	2.9 bp −$295	97.6 bp −$48.8K

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	191.02	+0.184%	$5.2M	$4.3M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	191.03	+0.189%	$4.1M	$3.4M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.76	+0.049%	$755K	$375K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.77	+0.052%	—	$2.6M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.80	+0.068%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	191.06	+0.205%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.82	+0.079%	$387K	$63K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	191.05	+0.199%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.84	+0.089%	$196K	$143K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	190.90	+0.121%	$6.3M	$14.7M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Entropy io:EWY	+0.0050%	1h	190.53	−0.073%	$52K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.77	+0.052%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.82	+0.079%	$456	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.64	−0.016%	$230K	$233K	10x	as long as short
Paradex EWY-USD-PERP	+0.0080%	8h	190.81	+0.075%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.63	−0.021%	$982K	$664K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	190.62	−0.026%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	191.06	+0.205%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0117%	1h	191.03	+0.189%	$2K	$13K	20x	as long as short
Coinbase International EWY-PERP-INTXlong	+0.0144%	1h	190.67	long leg	$532K	$340K	20x
OKX EWY-USDT-SWAP	+0.0291%	8h	191.09	+0.220%	$4.2M	$3.5M	50x	as long as short
Hotstuff EWY-PERP	+0.0360%	1h	190.72	+0.026%	$29K	$12K	20x	as long as short
Bitget EWYUSDT	+0.0386%	8h	190.96	+0.152%	$2.8M	$1.6M	20x	as long as short
Aster EWYUSDT	+0.0499%	8h	190.96	+0.153%	$296K	$12K	20x	as long as short
BloFin EWY-USDT	+0.0589%	8h	190.63	−0.021%	$47K	$214K	50x	as long as short
Variational Omni EWY	+0.0592%	8h	190.74	+0.039%	$1.2M	$1.1M	—	as long as short
Extended EWY_24_5-USD	+0.0616%	1h	190.98	+0.160%	$304K	$717K	10x	as long as short
Binance EWYUSDT	+0.0617%	8h	191.03	+0.190%	$28.7M	$78.2M	50x	as long as short
edgeX EWYUSDC	+0.0618%	4h	190.69	+0.012%	$427K	$282K	20x	as long as short
MEXC EWY_USDTshort	+0.0618%	8h	190.94	+0.142%	$7.4M	$4.5M	100x