Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.017%

Price spread now: Coinbase International against Gate−0.126%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$450.445% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 3 days (all we have)+0.045%+$4 · spread now −0.126%, 7d avg −0.085%

Together, before fees+0.195%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.041% cheaper against Gate than usual: you would sell low and buy high (spread −0.126% now, against its 7-day average of −0.085%). If the spread goes back, that is −$4 on $10k: about 2.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate EWY_USDT	189.80	0	get 0.0000% / 8h	6h 16m	$4.0M	$3.6M	50x
Short	Coinbase International EWY-PERP-INTX	189.56	0.0048	get 0.0006% / 1h	16m 32s	$529K	$330K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.126%Rate

Funding earned: $10.08
Price spread: −0.126% → −0.085%: −$4.14
Slippage, 4 orders: −$19.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.59
Costs to cover: 0.445%
Break-even: 33.8 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 52 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 Gate live order book, 2 min ago	2.37 bp	12.6 bp −$13	22.1 bp −$221	46.3 bp −$4,635	82.7 bp −$41.3K
Sell Coinbase International live order book, 52 min ago	4.46 bp	9.5 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit

EWY on 29 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	189.80	0.000%	$5.1M	$4.4M	100x	as long as short
Gate EWY_USDTlong	0.0000%	8h	189.80	long leg	$4.0M	$3.6M	50x
GRVT EWY_USDT_Perp	0.0000%	8h	189.59	−0.109%	$749K	$389K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.75	−0.026%	—	$2.6M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	189.90	+0.053%	$22K	$36K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.85	+0.026%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	189.65	−0.079%	$384K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.87	+0.037%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.73	−0.037%	$197K	$146K	20x	as long as short
Coinbase International EWY-PERP-INTXshort	+0.0048%	1h	189.56	−0.126%	$529K	$330K	20x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:EWY	+0.0050%	1h	189.74	−0.032%	$6.2M	$14.0M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	189.69	−0.058%	$51K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.70	−0.053%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.75	−0.026%	$705	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.57	−0.121%	$198K	$270K	10x	as long as short
Paradex EWY-USD-PERP	+0.0057%	8h	189.83	+0.013%	$23	—	5x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0066%	1h	189.73	−0.037%	$2K	$13K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.70	−0.053%	$977K	$631K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.61	−0.100%	$13K	$263K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.77	−0.016%	$2K	$1K	20x	as long as short
Bitget EWYUSDT	+0.0109%	8h	189.79	−0.005%	$2.8M	$1.9M	20x	as long as short
Hotstuff EWY-PERP	+0.0128%	1h	189.75	−0.026%	$28K	$12K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0183%	8h	189.78	−0.011%	$4.1M	$3.5M	50x	as long as short
Aster EWYUSDT	+0.0332%	8h	189.82	+0.008%	$294K	$12K	20x	as long as short
Variational Omni EWY	+0.0415%	8h	189.79	−0.005%	$1.2M	$1.1M	—	as long as short
Binance EWYUSDT	+0.0426%	8h	189.82	+0.012%	$28.3M	$77.4M	50x	as long as short
MEXC EWY_USDT	+0.0428%	8h	189.79	−0.005%	$7.0M	$4.2M	100x	as long as short
Extended EWY_24_5-USD	+0.0432%	1h	189.79	−0.004%	$302K	$665K	10x	as long as short
edgeX EWYUSDC	+0.0859%	4h	189.61	−0.099%	$425K	$283K	20x	as long as short