Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.073%

Price spread now: edgeX against Bybit−0.072%61s7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.950% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.072%, 7d avg +0.035%

Together, before fees+0.326%+ Points / potential airdropedgeX: Active · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.108% cheaper against Bybit than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of +0.035%). If the spread goes back, that is −$11 on $10k: about 3.1 days of funding at the current rate (+$3 a day). The two prices were read 61 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	Bybit EWJUSDT	97.710	0	get 0.0000% / 8h	1h 04m	$191K	$24K	25x
Short	edgeX EWJUSDC	97.639	0.0116	get 0.0058% / 4h	1h 04m	$595K	$232K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now −0.072%Rate

Funding earned: $24.44
Price spread: −0.072% → +0.035%: −$10.75
Slippage, 4 orders: −$75.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$81.33
Costs to cover: 0.950%
Break-even: 30.3 days

Slippage from Bybit: live order book, 20 min ago; edgeX: live order book, 39 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 Bybit live order book, 20 min ago	8.71 bp	53.4 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 39 min ago	6.14 bp	11.5 bp −$11	21.4 bp −$214	doesn't fit	doesn't fit

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
Gate EWJ_USDT	−0.0092%	8h	97.660	−0.051%	$345K	$202K	25x	as long as short
BloFin EWJ-USDT	−0.0018%	8h	97.710	0.000%	$43K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.655	−0.056%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.690	−0.020%	$1.1M	$858K	20x	as long as short
Bybit EWJUSDTlong	0.0000%	8h	97.710	long leg	$191K	$24K	25x
OKX EWJ-USDT-SWAP	0.0000%	8h	97.700	−0.010%	$296K	$113K	20x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.690	−0.020%	$403K	$106K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.660	−0.051%	$745K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.679	−0.032%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.646	−0.065%	$626K	$401K	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	97.624	−0.088%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.506	−0.209%	$8K	$37K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0050%	1h	97.728	+0.018%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.580	−0.133%	$150K	$1.0M	20x	as long as short
edgeX EWJUSDCshort	+0.0116%	4h	97.639	−0.072%	$595K	$232K	20x
Hotstuff EWJ-PERP	+0.0128%	1h	97.710	0.000%	$34K	—	20x	as long as short