Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0334%/8h= +36.5% APRpaid last 24h +0.724%

Price spread now: edgeX against Hotstuff−0.029%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.029% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff EWY-PERP	188.62	0.0400	pay 0.0050% / 1h	7m 36s	$28K	$12K	20x
Short	edgeX EWYUSDC	188.57	0.0734	get 0.0367% / 4h	3h 07m	$423K	$284K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hotstuff. 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 HotstuffbpFee edgeXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $70.05
Price spread: −0.029% → 0.000%: −$2.87
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $53.18
Costs to cover: 0.140%
Break-even: 1.7 days

Slippage unknown: Hotstuff: no order-book sample; edgeX: live order book, 46 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 Hotstuff no order-book sample	—	—	—	—	—
Sell edgeX live order book, 46 min ago	5.26 bp	10.2 bp −$10	14.0 bp −$140	doesn't fit	doesn't fit

Hotstuff: 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
Aster EWYUSDT	0.0000%	8h	188.82	+0.104%	$293K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.76	+0.074%	$300K	$422K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.82	+0.106%	$27.6M	$77.6M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.80	+0.095%	$5.1M	$4.4M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.75	+0.069%	$4.2M	$4.0M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.75	+0.069%	$4.1M	$3.9M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.80	+0.095%	$6.2M	$3.8M	100x	as long as short
Bitget EWYUSDT	0.0000%	8h	188.80	+0.095%	$2.7M	$2.2M	20x	as long as short
Variational Omni EWY	0.0000%	8h	188.58	−0.021%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	188.55	−0.037%	$746K	$406K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWY-USDT	0.0000%	8h	188.57	−0.027%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	188.71	+0.048%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.67	+0.027%	$1.7M	$37K	10x	as long as short
BloFin EWY-USDT	+0.0029%	8h	188.56	−0.032%	$48K	$214K	50x	as long as short
Lighter EWY	+0.0032%	1h	188.58	−0.021%	$382K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.42	−0.106%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.82	+0.106%	$197K	$147K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	188.40	−0.117%	$524K	$290K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.62	0.000%	$6.1M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.65	+0.016%	$65K	$81K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	188.36	−0.138%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	188.52	−0.053%	$734	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.44	−0.095%	$202K	$304K	10x	as long as short
Paradex EWY-USD-PERP	+0.0051%	8h	188.80	+0.095%	$23	—	5x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0068%	1h	188.49	−0.069%	$2K	$14K	20x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	188.68	+0.032%	$973K	$614K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	188.94	+0.170%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.50	−0.064%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERPlong	+0.0400%	1h	188.62	long leg	$28K	$12K	20x
edgeX EWYUSDCshort	+0.0734%	4h	188.57	−0.029%	$423K	$284K	20x