Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0788%/8h= −86.3% APRpaid last 24h −0.027%

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

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

Long on MEXC Short on Deribit

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—needs both histories

The price spread pays, funding is against you. Deribit is 0.037% dearer against MEXC than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC EWY_USDT	190.57	0.0619	pay 0.0619% / 8h	7h 23m	$7.4M	$4.5M	100x
Short	Deribit EWY_USDC-PERPETUAL	190.64	−0.0169	pay 0.0021% / 1h	23m 40s	$2K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$165.58
Price spread: +0.037% → 0.000%: $3.67
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$168.9
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Deribit: no order-book sample. 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 MEXC live order book, 4 min ago	0.26 bp	0.3 bp $0	0.4 bp −$4	3.3 bp −$334	104.9 bp −$52.5K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Deribit EWY_USDC-PERPETUALshort	−0.0169%	1h	190.64	+0.037%	$2K	$13K	20x
Bybit EWYUSDT	0.0000%	8h	190.60	+0.016%	$5.3M	$4.2M	100x	as long as short
Gate EWY_USDT	0.0000%	8h	190.60	+0.016%	$4.1M	$3.3M	50x	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	190.78	+0.111%	$755K	$384K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	190.43	−0.073%	—	$2.6M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	190.80	+0.121%	$22K	$37K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	190.48	−0.047%	$1.7M	$38K	10x	as long as short
Lighter EWY	+0.0032%	1h	190.38	−0.100%	$379K	$56K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	190.81	+0.126%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	190.59	+0.010%	$195K	$142K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:EWY	+0.0050%	1h	190.52	−0.026%	$6.2M	$14.7M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	190.38	−0.100%	$52K	$57K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	190.39	−0.094%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	190.48	−0.047%	$447	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	190.64	+0.037%	$230K	$233K	10x	as long as short
Paradex EWY-USD-PERP	+0.0081%	8h	190.54	−0.014%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	190.38	−0.100%	$981K	$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	190.56	−0.005%	$2K	$1K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0144%	1h	190.67	+0.052%	$532K	$341K	20x	as long as short
OKX EWY-USDT-SWAP	+0.0293%	8h	190.60	+0.016%	$4.2M	$3.6M	50x	as long as short
Bitget EWYUSDT	+0.0376%	8h	190.59	+0.010%	$2.7M	$1.6M	20x	as long as short
Aster EWYUSDT	+0.0500%	8h	190.57	−0.001%	$295K	$12K	20x	as long as short
Variational Omni EWY	+0.0592%	8h	190.74	+0.091%	$1.2M	$1.1M	—	as long as short
BloFin EWY-USDT	+0.0597%	8h	190.76	+0.100%	$47K	$215K	50x	as long as short
Extended EWY_24_5-USD	+0.0616%	1h	190.55	−0.008%	$304K	$717K	10x	as long as short
Binance EWYUSDT	+0.0619%	8h	190.54	−0.016%	$28.6M	$78.0M	50x	as long as short
MEXC EWY_USDTlong	+0.0619%	8h	190.57	long leg	$7.4M	$4.5M	100x
Hotstuff EWY-PERP	+0.0680%	1h	190.47	−0.052%	$29K	$12K	20x	as long as short
edgeX EWYUSDC	+0.0885%	4h	190.60	+0.018%	$427K	$281K	20x	as long as short