Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0108%/8h= +11.9% APRpaid last 24h −0.552%

Price spread now: Hotstuff against Paradex−0.080%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Hotstuff

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 airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.080% cheaper against Paradex than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex EWY-USD-PERP	187.78	0.0060	pay 0.0060% / 8h	1h 26m	$23	—	5x
Short	Hotstuff EWY-PERP	187.63	0.0168	get 0.0021% / 1h	26m 26s	$28K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Paradex. 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 ParadexbpFee HotstuffbpOrdersPrice spread, now −0.080%Rate

Funding earned: $22.77
Price spread: −0.080% → 0.000%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $5.76
Costs to cover: 0.090%
Break-even: 5.2 days

Slippage unknown: Paradex: no order-book sample; Hotstuff: 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 Paradex no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Paradex and 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
Bitget EWYUSDT	−0.0232%	8h	187.80	+0.010%	$2.7M	$2.3M	20x	as long as short
Aster EWYUSDT	0.0000%	8h	187.74	−0.023%	$291K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	187.73	−0.024%	$238K	$498K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	187.81	+0.018%	$27.2M	$81.6M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	187.83	+0.026%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	187.72	−0.032%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	187.77	−0.006%	$4.0M	$4.3M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	187.80	+0.010%	$8.6M	$4.5M	100x	as long as short
Variational Omni EWY	0.0000%	8h	187.72	−0.031%	$1.2M	$1.1M	—	as long as short
GRVT EWY_USDT_Perp	0.0000%	8h	187.74	−0.024%	$742K	$423K	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	187.49	−0.155%	—	$2.4M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	187.94	+0.085%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	187.73	−0.027%	$1.7M	$36K	10x	as long as short
BloFin EWY-USDT	+0.0028%	8h	187.72	−0.032%	$48K	$216K	50x	as long as short
Lighter EWY	+0.0032%	1h	187.47	−0.165%	$380K	$40K	20x	as long as short
Vest EWY-USD-PERP	+0.0042%	1h	187.51	−0.144%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	187.81	+0.016%	$197K	$151K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	187.75	−0.016%	$521K	$274K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	187.69	−0.048%	$6.3M	$14.3M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	187.59	−0.101%	$142K	$119K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	187.63	−0.080%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	187.68	−0.053%	$753	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	187.50	−0.149%	$223K	$321K	10x	as long as short
Paradex EWY-USD-PERPlong	+0.0060%	8h	187.78	long leg	$23	—	5x
KuCoin EWYUSDTM	+0.0100%	8h	187.51	−0.144%	$965K	$590K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	187.72	−0.032%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	187.64	−0.075%	$2K	$1K	20x	as long as short
Hotstuff EWY-PERPshort	+0.0168%	1h	187.63	−0.080%	$28K	$12K	20x
edgeX EWYUSDC	+0.0296%	4h	187.85	+0.037%	$421K	$284K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0337%	1h	187.61	−0.091%	$2K	$14K	20x	as long as short