Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.023%

Price spread now: Binance against GRVT−0.003%89s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as 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−$710.711% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.003%, 7d avg +0.024%

Together, before fees−0.050%+ Points / potential airdropGRVT: Active · farm board−$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: Binance is 0.027% cheaper against GRVT than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.024%. The two prices were read 89 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	GRVT EWJ_USDT_Perp	97.773	0	get 0.0000% / 8h	2h 35m	$627K	$396K	10x
Short	Binance EWJUSDT	97.770	0	get 0.0000% / 8h	2h 35m	$1.1M	$657K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GRVT. 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 GRVTbpFee BinancebpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → +0.024%: −$2.71
Slippage, 4 orders: −$52.12
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$73.83
Costs to cover: 0.711%
Break-even: never at this rate

Slippage from GRVT: live order book, 12 min ago; Binance: live order book, 12 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 GRVT live order book, 12 min ago	1.02 bp	29.8 bp −$30	7367.2 bp −$73.7K	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.51 bp	10.4 bp −$10	38.4 bp −$384	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	−0.0004%	8h	97.750	−0.024%	$43K	$68K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.728	−0.046%	$15K	$962	20x	as long as short
Binance EWJUSDTshort	0.0000%	8h	97.770	−0.003%	$1.1M	$657K	20x
Bybit EWJUSDT	0.0000%	8h	97.760	−0.013%	$201K	$16K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.730	−0.044%	$299K	$94K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.710	−0.065%	$346K	$183K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.780	+0.007%	$210K	$80K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.750	−0.024%	$732K	$90K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.756	−0.018%	$105K	$17K	—	as long as short
GRVT EWJ_USDT_Perplong	0.0000%	8h	97.773	long leg	$627K	$396K	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWJ-USDT	0.0000%	8h	97.682	−0.093%	$2K	$1.3M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.602	−0.175%	$8K	$37K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0072%	1h	97.740	−0.034%	$1.5M	$504K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.730	−0.044%	$148K	$959K	20x	as long as short
Hotstuff EWJ-PERP	+0.0136%	1h	97.760	−0.013%	$34K	—	20x	as long as short
edgeX EWJUSDC	+0.0656%	4h	97.762	−0.012%	$596K	$232K	20x	as long as short