Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0567%/8h= −62.1% APRpaid last 24h −0.186%

Price spread now: Lighter against edgeX−0.164%79s7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as 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−$320.321% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.006%−$101 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.164%, 7d avg −0.055%

Together, before fees−0.884%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$88 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Lighter is 0.109% cheaper against edgeX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.055%). Swap the legs. The two prices were read 79 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	edgeX EWYUSDC	187.98	0.0599	pay 0.0300% / 4h	1h 39m	$421K	$286K	20x
Short	Lighter EWY	187.67	0.0032	get 0.0004% / 1h	39m 51s	$380K	$40K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.164%Rate

Funding earned: −$119.11
Price spread: −0.164% → −0.055%: −$10.91
Slippage, 4 orders: −$23.07
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$162.09
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Lighter: live order book, 60 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 edgeX live order book, 4 min ago	5.32 bp	10.0 bp −$10	14.4 bp −$144	doesn't fit	doesn't fit
Sell Lighter live order book, 60 min ago	3.19 bp	6.4 bp −$6	15.3 bp −$153	48.5 bp −$4,851	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 EWYUSDT	−0.0151%	8h	187.82	−0.084%	$2.7M	$2.3M	20x	as long as short
Hotstuff EWY-PERP	−0.0016%	1h	187.77	−0.111%	$28K	$12K	20x	as long as short
BloFin EWY-USDT	−0.0011%	8h	187.87	−0.058%	$48K	$216K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	187.78	−0.107%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.75	−0.119%	$239K	$498K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.75	−0.123%	$27.2M	$81.9M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.79	−0.100%	$4.9M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.63	−0.186%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.83	−0.079%	$4.0M	$4.3M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.79	−0.100%	$8.6M	$4.5M	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	187.81	−0.089%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.00	+0.013%	$744K	$425K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	187.81	−0.090%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.97	−0.005%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.82	−0.084%	$1.7M	$36K	10x	as long as short
Lighter EWYshort	+0.0032%	1h	187.67	−0.164%	$380K	$40K	20x
Vest EWY-USD-PERP	+0.0045%	1h	187.58	−0.212%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.91	−0.037%	$197K	$151K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	187.84	−0.074%	$522K	$273K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.71	−0.143%	$6.4M	$14.4M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.78	−0.106%	$143K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.68	−0.159%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.79	−0.100%	$751	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.75	−0.122%	$224K	$317K	10x	as long as short
Paradex EWY-USD-PERP	+0.0059%	8h	187.86	−0.061%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	187.68	−0.159%	$966K	$595K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.50	−0.255%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.82	−0.084%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0123%	1h	187.79	−0.100%	$2K	$14K	20x	as long as short
edgeX EWYUSDClong	+0.0599%	4h	187.98	long leg	$421K	$286K	20x