Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0642%/8h= +70.3% APRpaid last 24h −0.009%

Price spread now: MEXC against Entropy−0.037%7-day average — · you buy dearer than you sell

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

Long on Entropy Short on MEXC

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. MEXC is 0.037% cheaper against Entropy than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:EWY	189.64	0.0050	pay 0.0006% / 1h	14m 21s	$51K	$57K	25x
Short	MEXC EWY_USDT	189.57	0.0692	get 0.0692% / 8h	14m 21s	$7.5M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Entropy. 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 EntropybpFee MEXCbpOrdersPrice spread, now −0.037%Rate

Funding earned: $134.82
Price spread: −0.037% → 0.000%: −$3.69
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee MEXC: 0 bp × 2 orders: $0
Net: $113.13
Costs to cover: 0.180%
Break-even: 1.1 days

Slippage unknown: Entropy: no order-book sample; MEXC: live order book, 3 min ago. 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 Entropy no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	0.26 bp	0.3 bp $0	1.0 bp −$10	4.6 bp −$460	137.2 bp −$68.6K

Entropy: 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
Gate EWY_USDT	0.0000%	8h	189.64	0.000%	$3.6M	$3.1M	50x	as long as short
SunX EWY-USDT	0.0000%	8h	189.37	−0.142%	—	$2.7M	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.84	+0.105%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.57	−0.037%	$377K	$62K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.78	+0.074%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.63	−0.005%	$195K	$138K	20x	as long as short
Entropy io:EWYlong	+0.0050%	1h	189.64	long leg	$51K	$57K	25x
Polymarket Perps EWY-USD	+0.0050%	1h	189.42	−0.116%	$4K	$81	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.56	−0.042%	$775	$3K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.65	+0.005%	$243K	$199K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin EWYUSDTM	+0.0100%	8h	189.65	+0.005%	$966K	$687K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.88	+0.127%	$13K	$262K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.53	−0.058%	$2K	$1K	20x	as long as short
Paradex EWY-USD-PERP	+0.0134%	8h	189.82	+0.097%	$23	—	5x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	189.88	+0.127%	$527K	$341K	20x	as long as short
tradeXYZ xyz:EWY	+0.0145%	1h	189.52	−0.063%	$6.7M	$14.7M	20x	as long as short
Bybit EWYUSDT	+0.0171%	8h	189.62	−0.011%	$5.2M	$4.1M	100x	as long as short
Bitget EWYUSDT	+0.0224%	8h	189.62	−0.011%	$2.6M	$1.5M	20x	as long as short
HTX EWY-USDT	+0.0225%	8h	189.99	+0.185%	$36K	$8K	20x	as long as short
Hotstuff EWY-PERP	+0.0320%	1h	189.62	−0.011%	$28K	$12K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0326%	8h	189.60	−0.021%	$4.0M	$4.0M	50x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0436%	1h	189.59	−0.026%	$2K	$13K	20x	as long as short
Aster EWYUSDT	+0.0566%	8h	189.57	−0.039%	$294K	$12K	20x	as long as short
Variational Omni EWY	+0.0661%	8h	189.82	+0.094%	$1.5M	$972K	—	as long as short
GRVT EWY_USDT_Perp	+0.0661%	8h	189.90	+0.139%	$751K	$395K	10x	as long as short
BloFin EWY-USDT	+0.0674%	8h	189.83	+0.100%	$47K	$214K	50x	as long as short
MEXC EWY_USDTshort	+0.0692%	8h	189.57	−0.037%	$7.5M	$4.5M	100x
Binance EWYUSDT	+0.0694%	8h	189.53	−0.058%	$28.5M	$79.2M	50x	as long as short
Extended EWY_24_5-USD	+0.0696%	1h	189.51	−0.066%	$298K	$396K	10x	as long as short
edgeX EWYUSDC	+0.0771%	4h	189.89	+0.130%	$425K	$276K	20x	as long as short