Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: OKX against Gate+0.051%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$208as in the Price arb table

costs, in and out, $10k−$2102.101% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.051%, 7d avg +0.029%

Together, before fees+0.049%+$5 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: OKX is 0.022% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate EWJ_USDT	98.080	0	get 0.0000% / 8h	6h 19m	$339K	$186K	25x
Short	OKX EWJ-USDT-SWAP	98.130	0	get 0.0000% / 8h	6h 19m	$298K	$115K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.029%: $2.19
Slippage, 4 orders: −$185.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$207.88
Costs to cover: 2.101%
Break-even: never at this rate

Slippage from Gate: live order book, 28 min ago; OKX: live order book, 28 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 Gate live order book, 28 min ago	5.60 bp	80.7 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 28 min ago	4.58 bp	28.6 bp −$29	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 EWJUSDC	−0.0411%	4h	98.099	+0.019%	$598K	$233K	20x	as long as short
BloFin EWJ-USDT	−0.0009%	8h	98.210	+0.133%	$44K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	98.115	+0.036%	$15K	$1K	20x	as long as short
Binance EWJUSDT	0.0000%	8h	98.090	+0.010%	$1.1M	$907K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	98.140	+0.061%	$213K	$59K	25x	as long as short
OKX EWJ-USDT-SWAPshort	0.0000%	8h	98.130	+0.051%	$298K	$115K	20x
Gate EWJ_USDTlong	0.0000%	8h	98.080	long leg	$339K	$186K	25x
MEXC EWJ_USDT	0.0000%	8h	98.100	+0.020%	$906K	$189K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	98.140	+0.061%	$737K	$144K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	98.100	+0.020%	$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	+0.031%	$629K	$423K	10x	as long as short
SunX EWJ-USDT	0.0000%	8h	98.029	−0.052%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.957	−0.125%	$8K	$38K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0085%	1h	98.097	+0.017%	$1.5M	$562K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	98.020	−0.061%	$151K	$1.1M	20x	as long as short
Hotstuff EWJ-PERP	+0.0744%	1h	98.100	+0.020%	$34K	—	20x	as long as short