Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0464%/8h= −50.8% APRpaid last 24h −0.025%

Price spread now: OKX against edgeX−0.008%111s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as 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−$740.740% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.008%, 7d avg −0.019%

Together, before fees−0.223%+ Points / potential airdropedgeX: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.203% in total (about -10.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX EWJUSDC	97.677	0.0464	pay 0.0232% / 4h	3h 43m	$595K	$233K	20x
Short	OKX EWJ-USDT-SWAP	97.670	0	get 0.0000% / 8h	7h 43m	$296K	$113K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$97.34
Price spread: −0.008% → −0.019%: $1.13
Slippage, 4 orders: −$55.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$170.23
Costs to cover: 0.740%
Break-even: never at this rate

Slippage from edgeX: live order book, 55 min ago; OKX: live order book, 52 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, 55 min ago	6.65 bp	11.7 bp −$12	21.7 bp −$217	doesn't fit	doesn't fit
Sell OKX live order book, 52 min ago	3.58 bp	27.6 bp −$28	doesn't fit	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
Hotstuff EWJ-PERP	−0.0264%	1h	97.630	−0.049%	$34K	—	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.690	+0.013%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.630	−0.049%	$1.1M	$858K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.610	−0.069%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAPshort	0.0000%	8h	97.670	−0.008%	$296K	$113K	20x
Gate EWJ_USDT	0.0000%	8h	97.610	−0.069%	$341K	$178K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.620	−0.059%	$403K	$104K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.610	−0.069%	$741K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.623	−0.056%	$109K	$23K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.682	+0.005%	$627K	$405K	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	97.571	−0.109%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.421	−0.263%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0015%	8h	97.670	−0.008%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0084%	1h	97.617	−0.062%	$1.4M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.620	−0.059%	$150K	$1.0M	20x	as long as short
edgeX EWJUSDClong	+0.0464%	4h	97.677	long leg	$595K	$233K	20x