Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.097%

Price spread now: MEXC against Bitget−0.010%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.010%, 7d avg +0.014%

Together, before fees+0.165%+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.025% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EWJUSDT	97.720	0	get 0.0000% / 8h	22m 55s	$746K	$142K	20x
Short	MEXC EWJ_USDT	97.710	0	get 0.0000% / 8h	22m 55s	$403K	$105K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → +0.014%: −$2.47
Slippage, 4 orders: −$35.31
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$49.78
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Bitget: live order book, 13 min ago; MEXC: live order book, 53 min ago.

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 Bitget live order book, 13 min ago	5.12 bp	16.9 bp −$17	47.5 bp −$475	doesn't fit	doesn't fit
Sell MEXC live order book, 53 min ago	1.02 bp	7.0 bp −$7	14.9 bp −$149	60.4 bp −$6,041	155.5 bp −$77.7K

EWJ on 16 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
edgeX EWJUSDC	−0.0660%	4h	97.668	−0.053%	$595K	$232K	20x	as long as short
Gate EWJ_USDT	−0.0146%	8h	97.670	−0.051%	$345K	$194K	25x	as long as short
Aster EWJUSDT	0.0000%	8h	97.684	−0.037%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.709	−0.011%	$1.1M	$866K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.710	−0.010%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.700	−0.020%	$296K	$113K	20x	as long as short
MEXC EWJ_USDTshort	0.0000%	8h	97.710	−0.010%	$403K	$105K	20x
Bitget EWJUSDTlong	0.0000%	8h	97.720	long leg	$746K	$142K	20x
Variational Omni EWJ	0.0000%	8h	97.682	−0.039%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.684	−0.037%	$626K	$403K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWJ-USDT	0.0000%	8h	97.653	−0.069%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.533	−0.191%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0012%	8h	97.680	−0.041%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0065%	1h	97.697	−0.024%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.620	−0.102%	$149K	$1.0M	20x	as long as short
Hotstuff EWJ-PERP	+0.0520%	1h	97.710	−0.010%	$34K	—	20x	as long as short