Funding arb · Price arb /

EWY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: KuCoin against Polymarket Perps−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 Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 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. KuCoin is 0.037% cheaper against Polymarket Perps 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 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps EWY-USD	188.19	0.0050	pay 0.0006% / 1h	10m 23s	$4K	$126	20x
Short	KuCoin EWYUSDTM	188.12	0.0100	get 0.0100% / 8h	2h 10m	$970K	$599K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Polymarket Perps. 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 Polymarket PerpsbpFee KuCoinbpOrdersPrice spread, now −0.037%Rate

Funding earned: $10.5
Price spread: −0.037% → 0.000%: −$3.72
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$13.22
Costs to cover: 0.200%
Break-even: 15.8 days

Slippage unknown: Polymarket Perps: no order-book sample; KuCoin: live order book, 29 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 29 min ago	5.86 bp	154.0 bp −$154	doesn't fit	doesn't fit	doesn't fit

Polymarket Perps: 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	−0.0162%	8h	188.35	+0.085%	$2.7M	$2.3M	20x	as long as short
BloFin EWY-USDT	−0.0021%	8h	188.36	+0.090%	$48K	$216K	50x	as long as short
Aster EWYUSDT	0.0000%	8h	188.42	+0.122%	$292K	$12K	20x	as long as short
Extended EWY_24_5-USD	0.0000%	1h	188.24	+0.025%	$240K	$500K	10x	as long as short
Binance EWYUSDT	0.0000%	8h	188.37	+0.096%	$27.4M	$81.1M	50x	as long as short
Bybit EWYUSDT	0.0000%	8h	188.42	+0.122%	$5.0M	$4.8M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	188.30	+0.058%	$4.1M	$4.3M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	188.38	+0.101%	$4.1M	$4.2M	50x	as long as short
MEXC EWY_USDT	0.0000%	8h	188.33	+0.074%	$8.9M	$4.2M	100x	as long as short
Variational Omni EWY	0.0000%	8h	188.31	+0.065%	$1.2M	$1.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT EWY_USDT_Perp	0.0000%	8h	187.62	−0.304%	$741K	$426K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	188.26	+0.037%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	188.11	−0.043%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	188.37	+0.096%	$1.7M	$37K	10x	as long as short
Lighter EWY	+0.0032%	1h	188.18	−0.005%	$381K	$40K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0040%	1h	187.91	−0.149%	$523K	$278K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	188.11	−0.043%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	188.35	+0.085%	$198K	$150K	20x	as long as short
tradeXYZ xyz:EWY	+0.0050%	1h	188.25	+0.032%	$6.3M	$14.5M	20x	as long as short
Entropy io:EWY	+0.0050%	1h	188.05	−0.074%	$125K	$111K	25x	as long as short
Polymarket Perps EWY-USDlong	+0.0050%	1h	188.19	long leg	$4K	$126	20x
SoDEX EWY-USD	+0.0050%	1h	188.29	+0.053%	$734	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	188.17	−0.011%	$216K	$318K	10x	as long as short
Paradex EWY-USD-PERP	+0.0058%	8h	188.35	+0.085%	$23	—	5x	as long as short
Hotstuff EWY-PERP	+0.0072%	1h	188.25	+0.032%	$28K	$12K	20x	as long as short
KuCoin EWYUSDTMshort	+0.0100%	8h	188.12	−0.037%	$970K	$599K	20x
ApeX Omni EWYUSDT	+0.0100%	1h	187.89	−0.159%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	188.34	+0.080%	$2K	$1K	20x	as long as short
edgeX EWYUSDC	+0.0161%	4h	187.95	−0.127%	$421K	$283K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0228%	1h	188.32	+0.069%	$2K	$14K	20x	as long as short