Funding arb · Price arb /

EWY

RWAall EWY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.052%

Price spread now: tradeXYZ against Variational Omni−0.201%7-day average −0.075% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.201%, 7d avg −0.075%

Together, before fees+0.148%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.126% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.201% now, against its 7-day average of −0.075%). If the spread goes back, that is −$13 on $10k: about 8.4 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	Variational Omni EWY	189.64	0	get 0.0000% / 8h	3h 37m	$1.2M	$1.1M	—
Short	tradeXYZ xyz:EWY	189.26	0.0050	get 0.0006% / 1h	37m 53s	$6.1M	$14.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Variational Omni. 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 Variational OmnibpFee tradeXYZbpOrdersPrice spread, now −0.201%Rate

Funding earned: $10.5
Price spread: −0.201% → −0.075%: −$12.63
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$20.13
Costs to cover: 0.180%
Break-even: 20.4 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; tradeXYZ: live order book, 11 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 Variational Omni RFQ quote, 1 min ago	2.22 bp	doesn't fit	5.7 bp −$57	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 11 min ago	0.79 bp	10.0 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit

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	189.34	−0.157%	$294K	$12K	20x	as long as short
Bybit EWYUSDT	0.0000%	8h	189.35	−0.154%	$5.1M	$4.2M	100x	as long as short
OKX EWY-USDT-SWAP	0.0000%	8h	189.35	−0.154%	$4.1M	$3.4M	50x	as long as short
Gate EWY_USDT	0.0000%	8h	189.36	−0.149%	$4.1M	$3.9M	50x	as long as short
Bitget EWYUSDT	0.0000%	8h	189.39	−0.133%	$2.7M	$2.2M	20x	as long as short
Variational Omni EWYlong	0.0000%	8h	189.64	long leg	$1.2M	$1.1M	—
GRVT EWY_USDT_Perp	0.0000%	8h	189.67	+0.016%	$750K	$400K	10x	as long as short
SunX EWY-USDT	0.0000%	8h	189.31	−0.175%	—	$2.5M	20x	as long as short
HTX EWY-USDT	0.0000%	8h	189.52	−0.064%	$22K	$35K	20x	as long as short
Phemex EWYUSDT	0.0000%	8h	189.45	−0.101%	$1.7M	$37K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EWY_24_5-USD	+0.0016%	1h	189.32	−0.171%	$300K	$667K	10x	as long as short
Hotstuff EWY-PERP	+0.0016%	1h	189.30	−0.180%	$28K	$12K	20x	as long as short
Binance EWYUSDT	+0.0019%	8h	189.32	−0.170%	$27.6M	$76.7M	50x	as long as short
MEXC EWY_USDT	+0.0022%	8h	189.37	−0.143%	$6.2M	$3.8M	100x	as long as short
BloFin EWY-USDT	+0.0030%	8h	189.46	−0.096%	$47K	$213K	50x	as long as short
Lighter EWY	+0.0032%	1h	189.21	−0.228%	$383K	$39K	20x	as long as short
Vest EWY-USD-PERP	+0.0046%	1h	189.41	−0.122%	—	$220K	25x	as long as short
Popdex EWYUSDT	+0.0048%	1h	189.40	−0.128%	$197K	$146K	20x	as long as short
Coinbase International EWY-PERP-INTX	+0.0048%	1h	189.83	+0.099%	$530K	$291K	20x	as long as short
tradeXYZ xyz:EWYshort	+0.0050%	1h	189.26	−0.201%	$6.1M	$14.4M	20x
Entropy io:EWY	+0.0050%	1h	189.41	−0.122%	$30K	$64K	25x	as long as short
Polymarket Perps EWY-USD	+0.0050%	1h	189.22	−0.222%	$4K	$126	20x	as long as short
SoDEX EWY-USD	+0.0050%	1h	189.35	−0.154%	$746	$4K	10x	as long as short
Ondo Perps EWY-USD.P	+0.0050%	1h	189.24	−0.212%	$209K	$284K	10x	as long as short
Paradex EWY-USD-PERP	+0.0054%	8h	189.36	−0.149%	$23	—	5x	as long as short
KuCoin EWYUSDTM	+0.0100%	8h	189.27	−0.196%	$975K	$612K	20x	as long as short
ApeX Omni EWYUSDT	+0.0100%	1h	189.85	+0.110%	$13K	$265K	50x	as long as short
Orderly PERP_EWY_USDC_mythos	+0.0100%	8h	189.31	−0.175%	$2K	$1K	20x	as long as short
Deribit EWY_USDC-PERPETUAL	+0.0226%	1h	189.33	−0.164%	$2K	$13K	20x	as long as short
edgeX EWYUSDC	+0.0514%	4h	189.64	+0.001%	$425K	$283K	20x	as long as short