Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.108%

Price spread now: OKX against Hotstuff+0.031%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 OKX

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

The price spread pays, funding is against you. OKX is 0.031% dearer against Hotstuff than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff EWJ-PERP	98.210	0.0048	pay 0.0006% / 1h	0m 06s	$34K	—	20x
Short	OKX EWJ-USDT-SWAP	98.240	0	get 0.0000% / 8h	7h 00m	$297K	$115K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$10.08
Price spread: +0.031% → 0.000%: $3.05
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.03
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; OKX: live order book, 30 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 OKX live order book, 30 min ago	1.03 bp	26.6 bp −$27	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	−0.0022%	8h	98.250	+0.041%	$43K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	98.168	−0.043%	$15K	$1K	20x	as long as short
Binance EWJUSDT	0.0000%	8h	98.260	+0.051%	$1.1M	$899K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	98.160	−0.051%	$213K	$59K	25x	as long as short
OKX EWJ-USDT-SWAPshort	0.0000%	8h	98.240	+0.031%	$297K	$115K	20x
Gate EWJ_USDT	0.0000%	8h	98.180	−0.031%	$346K	$187K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	98.220	+0.010%	$907K	$190K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	98.190	−0.020%	$740K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	98.262	+0.053%	$117K	$30K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	98.253	+0.044%	$630K	$422K	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	98.201	−0.009%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	98.034	−0.179%	$8K	$38K	20x	as long as short
edgeX EWJUSDC	+0.0003%	4h	98.252	+0.042%	$599K	$233K	20x	as long as short
Hotstuff EWJ-PERPlong	+0.0048%	1h	98.210	long leg	$34K	—	20x
tradeXYZ xyz:EWJ	+0.0082%	1h	98.235	+0.025%	$1.5M	$562K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	98.180	−0.031%	$150K	$1.0M	20x	as long as short