Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.008%

Price spread now: tradeXYZ against KuCoin+0.124%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$389as in the Funding arb table

Net, price: spread back to 7d avg − costs−$370as in the Price arb table

costs, in and out, $10k−$3813.813% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days−0.131%−$13 · spread now +0.124%, 7d avg +0.011%

Together, before fees−0.207%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.113% dearer against KuCoin than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of +0.011%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EWJUSDTM	97.590	0.0100	pay 0.0100% / 8h	1h 24m	$150K	$1.0M	20x
Short	tradeXYZ xyz:EWJ	97.711	0.0050	get 0.0006% / 1h	24m 29s	$1.5M	$550K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$10.5
Price spread: +0.124% → +0.011%: $11.27
Slippage, 4 orders: −$351.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$380.57
Costs to cover: 3.813%
Break-even: never at this rate

Slippage from KuCoin: live order book, 55 min ago; tradeXYZ: live order book, 3 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, 55 min ago	3.58 bp	194.9 bp −$195	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	2.00 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit

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	−0.0080%	4h	97.707	+0.120%	$596K	$232K	20x	as long as short
Gate EWJ_USDT	−0.0033%	8h	97.690	+0.102%	$345K	$201K	25x	as long as short
Aster EWJUSDT	0.0000%	8h	97.695	+0.108%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.701	+0.114%	$1.1M	$859K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.710	+0.123%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.680	+0.092%	$296K	$112K	20x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.740	+0.154%	$405K	$105K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.780	+0.195%	$747K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.703	+0.116%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.727	+0.140%	$626K	$402K	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	97.655	+0.067%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.489	−0.103%	$8K	$37K	20x	as long as short
BloFin EWJ-USDT	+0.0008%	8h	97.750	+0.164%	$43K	$69K	20x	as long as short
tradeXYZ xyz:EWJshort	+0.0050%	1h	97.711	+0.124%	$1.5M	$550K	20x
Hotstuff EWJ-PERP	+0.0088%	1h	97.730	+0.143%	$34K	—	20x	as long as short
KuCoin EWJUSDTMlong	+0.0100%	8h	97.590	long leg	$150K	$1.0M	20x