Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0069%/8h= +7.6% APRpaid last 24h +0.044%

Price spread now: tradeXYZ against Gate+0.059%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$850.850% of the position

Long on Gate Short on tradeXYZ

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)−0.006%−$1 · spread now +0.059%, 7d avg +0.008%

Together, before fees+0.203%+ Points / potential airdroptradeXYZ: Active · farm board+$20 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 tradeXYZ is 0.052% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate EWJ_USDT	97.790	0	get 0.0000% / 8h	1h 53m	$347K	$196K	25x
Short	tradeXYZ xyz:EWJ	97.848	0.0069	get 0.0009% / 1h	53m 47s	$1.5M	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.059%Rate

Funding earned: $14.58
Price spread: +0.059% → +0.008%: $5.17
Slippage, 4 orders: −$52.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$65.28
Costs to cover: 0.850%
Break-even: 38.3 days

Slippage from Gate: live order book, 51 min ago; tradeXYZ: live order book, 3 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, 51 min ago	7.67 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.61 bp	13.2 bp −$13	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
BloFin EWJ-USDT	−0.0028%	8h	97.830	+0.041%	$43K	$68K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.765	−0.026%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.820	+0.031%	$1.1M	$854K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.830	+0.041%	$192K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.870	+0.082%	$297K	$113K	20x	as long as short
Gate EWJ_USDTlong	0.0000%	8h	97.790	long leg	$347K	$196K	25x
MEXC EWJ_USDT	0.0000%	8h	97.820	+0.031%	$272K	$87K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.810	+0.020%	$748K	$144K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.883	+0.095%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.909	+0.121%	$628K	$403K	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	97.755	−0.036%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.687	−0.105%	$8K	$37K	20x	as long as short
edgeX EWJUSDC	+0.0036%	4h	97.837	+0.048%	$596K	$234K	20x	as long as short
tradeXYZ xyz:EWJshort	+0.0069%	1h	97.848	+0.059%	$1.5M	$549K	20x
Hotstuff EWJ-PERP	+0.0080%	1h	97.900	+0.112%	$34K	—	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.800	+0.010%	$151K	$985K	20x	as long as short