Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.025%

Price spread now: Bybit against edgeX+0.008%51s7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as 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−$940.937% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.008%, 7d avg −0.033%

Together, before fees−0.220%+ Points / potential airdropedgeX: Active · farm board−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.041% dearer against edgeX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.033%. Mind the row above: over the last 7 days funding on this pair cost −0.208%, so the current rate has only just turned in your favour. The two prices were read 51 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	edgeX EWJUSDC	98.352	−0.0067	get 0.0034% / 4h	10m 37s	$600K	$232K	20x
Short	Bybit EWJUSDT	98.360	0	get 0.0000% / 8h	4h 10m	$187K	$104K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now +0.008%Rate

Funding earned: $14.08
Price spread: +0.008% → −0.033%: $4.06
Slippage, 4 orders: −$73.74
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.6
Costs to cover: 0.937%
Break-even: 44.6 days

Slippage from edgeX: live order book, 31 min ago; Bybit: live order book, 13 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 edgeX live order book, 31 min ago	7.12 bp	12.5 bp −$12	21.8 bp −$218	doesn't fit	doesn't fit
Sell Bybit live order book, 13 min ago	9.15 bp	39.3 bp −$39	doesn't fit	doesn't fit	doesn't fit

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 EWJUSDClong	−0.0067%	4h	98.352	long leg	$600K	$232K	20x
BloFin EWJ-USDT	−0.0010%	8h	98.330	−0.022%	$44K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	98.233	−0.121%	$18K	$4K	20x	as long as short
Bybit EWJUSDTshort	0.0000%	8h	98.360	+0.008%	$187K	$104K	25x
OKX EWJ-USDT-SWAP	0.0000%	8h	98.390	+0.039%	$299K	$125K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	98.320	−0.033%	$350K	$221K	25x	as long as short
Bitget EWJUSDT	0.0000%	8h	98.340	−0.012%	$739K	$206K	20x	as long as short
SunX EWJ-USDT	0.0000%	8h	98.253	−0.101%	$2K	$1.5M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	98.173	−0.182%	$8K	$38K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0050%	1h	98.342	−0.010%	$1.5M	$651K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWJ	+0.0065%	8h	98.297	−0.056%	$117K	$30K	—	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	98.320	−0.033%	$160K	$1.2M	20x	as long as short
Hotstuff EWJ-PERP	+0.0120%	1h	98.390	+0.039%	$35K	—	20x	as long as short
MEXC EWJ_USDT	+0.0128%	8h	98.300	−0.053%	$686K	$274K	20x	as long as short
Binance EWJUSDT	+0.0128%	8h	98.306	−0.047%	$1.1M	$1.1M	20x	as long as short
GRVT EWJ_USDT_Perp	+0.0626%	8h	98.369	+0.018%	$631K	$418K	10x	as long as short