Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h +0.057%

Price spread now: Hotstuff against KuCoin−0.031%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Hotstuff

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Hotstuff is 0.031% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EWJUSDTM	97.510	0.0100	pay 0.0100% / 8h	7h 30m	$150K	$1.0M	20x
Short	Hotstuff EWJ-PERP	97.480	0.0016	get 0.0002% / 1h	30m 02s	$34K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$17.64
Price spread: −0.031% → 0.000%: −$3.08
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$37.72
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Hotstuff: 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 KuCoin live order book, 5 min ago	4.61 bp	206.0 bp −$206	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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
edgeX EWJUSDC	−0.0558%	4h	97.556	+0.048%	$595K	$233K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.577	+0.069%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.510	0.000%	$1.1M	$862K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.510	0.000%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.500	−0.010%	$295K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.480	−0.031%	$341K	$179K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.510	0.000%	$402K	$105K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.510	0.000%	$738K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.519	+0.009%	$109K	$23K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.585	+0.077%	$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	97.423	−0.089%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.310	−0.205%	$8K	$38K	20x	as long as short
Hotstuff EWJ-PERPshort	+0.0016%	1h	97.480	−0.031%	$34K	—	20x
BloFin EWJ-USDT	+0.0016%	8h	97.540	+0.031%	$43K	$68K	20x	as long as short
KuCoin EWJUSDTMlong	+0.0100%	8h	97.510	long leg	$150K	$1.0M	20x
tradeXYZ xyz:EWJ	+0.0132%	1h	97.518	+0.008%	$1.4M	$545K	20x	as long as short