Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0313%/8h= +34.2% APRpaid last 24h −0.026%

Price spread now: edgeX against KuCoin+0.068%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,566as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,564as in the Price arb table

costs, in and out, $10k−$1,56515.649% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.068%, 7d avg +0.062%

Together, before fees−0.074%+ Points / potential airdropedgeX: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EWJUSDTM	98.430	0.0100	pay 0.0100% / 8h	5h 04m	$160K	$1.1M	20x
Short	edgeX EWJUSDC	98.497	0.0413	get 0.0206% / 4h	1h 04m	$600K	$233K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $65.68
Price spread: +0.068% → +0.062%: $0.59
Slippage, 4 orders: −$1,543.94
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$1,498.68
Costs to cover: 15.649%
Break-even: 166.7 days

Slippage from KuCoin: live order book, 3 min ago; edgeX: live order book, 42 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 KuCoin live order book, 3 min ago	3.56 bp	927.6 bp −$928	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 42 min ago	6.60 bp	11.7 bp −$12	21.9 bp −$219	doesn't fit	doesn't fit

EWJ on 16 exchanges

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-PERP	−8.0000%	1h	98.570	+0.142%	$35K	—	20x	as long as short
Aster EWJUSDT	0.0000%	8h	98.347	−0.084%	$18K	$4K	20x	as long as short
Binance EWJUSDT	0.0000%	8h	98.505	+0.076%	$1.1M	$1.1M	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	98.490	+0.061%	$217K	$69K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	98.550	+0.122%	$300K	$126K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	98.470	+0.041%	$357K	$218K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	98.520	+0.091%	$690K	$274K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	98.460	+0.030%	$740K	$198K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	98.509	+0.080%	$117K	$30K	—	as long as short
SunX EWJ-USDT	0.0000%	8h	98.478	+0.049%	$1K	$1.5M	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EWJ-USDT	0.0000%	8h	98.282	−0.150%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0023%	8h	98.470	+0.041%	$44K	$69K	20x	as long as short
KuCoin EWJUSDTMlong	+0.0100%	8h	98.430	long leg	$160K	$1.1M	20x
tradeXYZ xyz:EWJ	+0.0275%	1h	98.471	+0.042%	$1.5M	$673K	20x	as long as short
edgeX EWJUSDCshort	+0.0413%	4h	98.497	+0.068%	$600K	$233K	20x
GRVT EWJ_USDT_Perp	+0.0658%	8h	98.482	+0.053%	$631K	$419K	10x	as long as short