Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.057%

Price spread now: KuCoin against Hotstuff−0.021%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on KuCoin

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.021% cheaper against Hotstuff than usual: you would sell low and buy high, −$2 on $10k if it 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	97.540	0.0096	pay 0.0012% / 1h	23m 28s	$34K	—	20x
Short	KuCoin EWJUSDTM	97.520	0.0100	get 0.0100% / 8h	7h 23m	$150K	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0.84
Price spread: −0.021% → 0.000%: −$2.05
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$18.21
Costs to cover: 0.170%
Break-even: 158.8 days

Slippage unknown: Hotstuff: no order-book sample; KuCoin: live order book, 1 min ago. 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 KuCoin live order book, 1 min ago	5.64 bp	205.8 bp −$206	doesn't fit	doesn't fit	doesn't fit

Hotstuff: 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
BloFin EWJ-USDT	−0.0027%	8h	97.550	+0.010%	$43K	$68K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.629	+0.091%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.590	+0.051%	$1.1M	$856K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.530	−0.010%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.580	+0.041%	$296K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.550	+0.010%	$341K	$179K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.570	+0.031%	$402K	$105K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.520	−0.021%	$737K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.511	−0.030%	$111K	$25K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.528	−0.012%	$625K	$410K	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	97.472	−0.070%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.319	−0.227%	$8K	$38K	20x	as long as short
Hotstuff EWJ-PERPlong	+0.0096%	1h	97.540	long leg	$34K	—	20x
KuCoin EWJUSDTMshort	+0.0100%	8h	97.520	−0.021%	$150K	$1.0M	20x
tradeXYZ xyz:EWJ	+0.0135%	1h	97.589	+0.050%	$1.4M	$546K	20x	as long as short
edgeX EWJUSDC	+0.0148%	4h	97.512	−0.029%	$594K	$232K	20x	as long as short