Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h −0.106%

Price spread now: BloFin against Hotstuff+0.051%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.051% dearer against Hotstuff than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff EWJ-PERP	97.580	−0.0208	get 0.0026% / 1h	38m 53s	$34K	—	20x
Short	BloFin EWJ-USDT	97.630	0.0002	get 0.0002% / 8h	7h 38m	$43K	$68K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hotstuff. 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 HotstuffbpFee BloFinbpOrdersPrice spread, now +0.051%Rate

Funding earned: $44.09
Price spread: +0.051% → 0.000%: $5.12
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $32.21
Costs to cover: 0.170%
Break-even: 1.9 days

Slippage unknown: Hotstuff: no order-book sample; BloFin: no order-book sample. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Hotstuff and BloFin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff EWJ-PERPlong	−0.0208%	1h	97.580	long leg	$34K	—	20x
Aster EWJUSDT	0.0000%	8h	97.664	+0.086%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.610	+0.031%	$1.1M	$860K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.580	0.000%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.670	+0.092%	$296K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.590	+0.010%	$341K	$179K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.590	+0.010%	$403K	$104K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.610	+0.031%	$739K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.584	+0.004%	$109K	$23K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.630	+0.051%	$626K	$406K	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	97.541	−0.040%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.475	−0.108%	$8K	$38K	20x	as long as short
BloFin EWJ-USDTshort	+0.0002%	8h	97.630	+0.051%	$43K	$68K	20x
KuCoin EWJUSDTM	+0.0100%	8h	97.590	+0.010%	$150K	$1.0M	20x	as long as short
tradeXYZ xyz:EWJ	+0.0101%	1h	97.611	+0.032%	$1.4M	$545K	20x	as long as short
edgeX EWJUSDC	+0.0181%	4h	97.587	+0.008%	$595K	$232K	20x	as long as short