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 −0.121%

Price spread now: OKX against GRVT−0.040%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1061.061% of the position

Long on GRVT Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.040%, 7d avg 0.000%

Together, before fees−0.164%+ Points / potential airdropGRVT: Active · farm board−$16 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 0.040% cheaper against GRVT than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT EWJ_USDT_Perp	97.740	0	get 0.0000% / 8h	18m 53s	$627K	$403K	10x
Short	OKX EWJ-USDT-SWAP	97.700	0	get 0.0000% / 8h	18m 53s	$296K	$113K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → 0.000%: −$4
Slippage, 4 orders: −$87.11
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$110.11
Costs to cover: 1.061%
Break-even: never at this rate

Slippage from GRVT: live order book, 19 min ago; OKX: live order book, 16 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, 19 min ago	2.05 bp	27.6 bp −$28	1655.8 bp −$16.6K	doesn't fit	doesn't fit
Sell OKX live order book, 16 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
Gate EWJ_USDT	−0.0149%	8h	97.690	−0.051%	$345K	$194K	25x	as long as short
Aster EWJUSDT	0.0000%	8h	97.675	−0.066%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.740	0.000%	$1.1M	$867K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.700	−0.040%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAPshort	0.0000%	8h	97.700	−0.040%	$296K	$113K	20x
MEXC EWJ_USDT	0.0000%	8h	97.740	0.000%	$403K	$106K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.720	−0.020%	$745K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.758	+0.019%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perplong	0.0000%	8h	97.740	long leg	$627K	$403K	10x
SunX EWJ-USDT	0.0000%	8h	97.699	−0.041%	$1K	$1.4M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EWJ-USDT	0.0000%	8h	97.560	−0.184%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0005%	8h	97.770	+0.031%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0071%	1h	97.742	+0.003%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.640	−0.102%	$150K	$1.0M	20x	as long as short
Hotstuff EWJ-PERP	+0.0144%	1h	97.720	−0.020%	$34K	—	20x	as long as short
edgeX EWJUSDC	+0.0747%	4h	97.672	−0.069%	$595K	$233K	20x	as long as short