Funding arb · Price arb /

EWJ

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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 −0.121%

Price spread now: Gate against GRVT+0.075%66s7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as 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−$1061.058% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.075%, 7d avg −0.024%

Together, before fees−0.417%+ Points / potential airdropGRVT: Active · farm board−$42 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: Gate is 0.100% dearer against GRVT than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 66 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	97.756	0	get 0.0000% / 8h	1h 58m	$627K	$397K	10x
Short	Gate EWJ_USDT	97.830	0	get 0.0000% / 8h	1h 58m	$347K	$191K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → −0.024%: $9.98
Slippage, 4 orders: −$81.76
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$95.77
Costs to cover: 1.058%
Break-even: never at this rate

Slippage from GRVT: live order book, 50 min ago; Gate: live order book, 47 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, 50 min ago	1.02 bp	29.8 bp −$30	7367.2 bp −$73.7K	doesn't fit	doesn't fit
Sell Gate live order book, 47 min ago	7.67 bp	35.5 bp −$36	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
edgeX EWJUSDC	−0.0281%	4h	97.960	+0.208%	$597K	$233K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.866	+0.112%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.920	+0.167%	$1.1M	$847K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.830	+0.075%	$192K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.870	+0.116%	$297K	$113K	20x	as long as short
Gate EWJ_USDTshort	0.0000%	8h	97.830	+0.075%	$347K	$191K	25x
MEXC EWJ_USDT	0.0000%	8h	97.900	+0.147%	$272K	$87K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.840	+0.086%	$748K	$144K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.802	+0.047%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perplong	0.0000%	8h	97.756	long leg	$627K	$397K	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	97.839	+0.085%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.720	−0.037%	$8K	$37K	20x	as long as short
BloFin EWJ-USDT	+0.0023%	8h	97.800	+0.045%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0081%	1h	97.911	+0.158%	$1.5M	$549K	20x	as long as short
Hotstuff EWJ-PERP	+0.0096%	1h	97.910	+0.157%	$34K	—	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.870	+0.116%	$148K	$980K	20x	as long as short