South Korea equities perpetual (EWYUSDT) on QATS Prop

EWYUSDT at a glance

Symbol

EWYUSDT, a USDT-margined perpetual future with no expiry

Challenge

QATS Prop TradFi challenges

Priced from

Binance

Listed on

Binance and Bybit

Max leverage

Up to 10× on the current plans, chosen per order

Funding

The exchange’s funding rate, paid or received at its funding times and added to the position’s P&L

Risk day

Starts at 17:00 Chicago time, an accounting boundary, not a pause

Hours

24/7; the fund trades 09:30–16:00 New York

What is South Korea equities?

South Korean equities, led by the world’s largest makers of memory chips.

EWY tracks the MSCI South Korea index. Two memory-chip makers account for a very large share of it, alongside car makers, shipbuilders and battery producers, which makes the fund a concentrated bet on the chip cycle and on global trade.

It moves more than the US indices. Memory-chip prices, demand from artificial-intelligence data centres, the won and trade policy are the forces behind it.

Tracks

MSCI South Korea index

Fund

iShares MSCI South Korea ETF

Largest sector

Semiconductors

What moves the price of South Korea equities?

The memory-chip cycle

Prices of DRAM and NAND set the earnings of its largest holdings.

AI data-centre demand

Orders for high-bandwidth memory feed straight into the index.

The won and the dollar

A stronger dollar reduces the fund’s value in dollar terms.

Trade policy

Tariffs and export controls affect an economy built on exports.

What do traders watch?

• Earnings of the large Korean chip makers
• Semiconductor index direction
• US trade policy

When does EWYUSDT trade?

The perpetual trades around the clock, but the stocks inside the fund trade in Asian hours and the fund itself in New York hours, so news from either session can move it.

What are the risks of trading South Korea equities on a prop account?

• This is a perpetual contract: it has no expiry, and its price can sit slightly above or below the market it follows.
• The market it follows is closed at weekends. A position held through the weekend meets Monday’s opening price, which can be far from Friday’s close.