Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0753%/8h= +82.5% APRpaid last 24h +0.107%

Price spread now: Hotstuff against BloFin−0.112%99s7-day average — · you buy dearer than you sell

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

Long on BloFin 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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.112% cheaper against BloFin than usual: you would sell low and buy high (spread −0.112% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 12 hours of funding at the current rate (+$23 a day). The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin EWJ-USDT	98.210	−0.0009	get 0.0009% / 8h	6h 19m	$44K	$69K	20x
Short	Hotstuff EWJ-PERP	98.100	0.0744	get 0.0093% / 1h	19m 30s	$34K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against BloFin. 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 BloFinbpFee HotstuffbpOrdersPrice spread, now −0.112%Rate

Funding earned: $158.15
Price spread: −0.112% → 0.000%: −$11.2
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $129.95
Costs to cover: 0.170%
Break-even: 1.2 days

Slippage unknown: BloFin: 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 BloFin no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

BloFin 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.

EWJ on 16 exchanges

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	−0.0411%	4h	98.099	−0.113%	$598K	$233K	20x	as long as short
BloFin EWJ-USDTlong	−0.0009%	8h	98.210	long leg	$44K	$69K	20x
Aster EWJUSDT	0.0000%	8h	98.115	−0.096%	$15K	$1K	20x	as long as short
Binance EWJUSDT	0.0000%	8h	98.090	−0.123%	$1.1M	$907K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	98.140	−0.071%	$213K	$59K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	98.130	−0.081%	$298K	$115K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	98.080	−0.132%	$339K	$186K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	98.100	−0.112%	$906K	$189K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	98.140	−0.071%	$737K	$144K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	98.100	−0.112%	$117K	$30K	—	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT EWJ_USDT_Perp	0.0000%	8h	98.110	−0.102%	$629K	$423K	10x	as long as short
SunX EWJ-USDT	0.0000%	8h	98.029	−0.184%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.957	−0.258%	$8K	$38K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0085%	1h	98.097	−0.115%	$1.5M	$562K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	98.020	−0.193%	$151K	$1.1M	20x	as long as short
Hotstuff EWJ-PERPshort	+0.0744%	1h	98.100	−0.112%	$34K	—	20x