Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.023%

Price spread now: GRVT against MEXC+0.046%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$740.744% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.046%, 7d avg −0.021%

Together, before fees+0.059%+ Points / potential airdropGRVT: Active · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.067% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC EWJ_USDT	97.540	0	get 0.0000% / 8h	7h 31m	$402K	$105K	20x
Short	GRVT EWJ_USDT_Perp	97.585	0	get 0.0000% / 8h	7h 31m	$626K	$406K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against MEXC. 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 MEXCbpFee GRVTbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.021%: $6.72
Slippage, 4 orders: −$65.37
Fee MEXC: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$67.65
Costs to cover: 0.744%
Break-even: never at this rate

Slippage from MEXC: live order book, 40 min ago; GRVT: live order book, 2 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 MEXC live order book, 40 min ago	0.51 bp	7.8 bp −$8	16.7 bp −$167	53.9 bp −$5,390	134.6 bp −$67.3K
Sell GRVT live order book, 2 min ago	0.51 bp	25.9 bp −$26	68.1 bp −$681	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	−0.0558%	4h	97.556	+0.017%	$595K	$233K	20x	as long as short
Hotstuff EWJ-PERP	−0.0024%	1h	97.540	0.000%	$34K	—	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.604	+0.066%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.536	−0.004%	$1.1M	$861K	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	97.530	−0.010%	$295K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.510	−0.031%	$341K	$179K	25x	as long as short
MEXC EWJ_USDTlong	0.0000%	8h	97.540	long leg	$402K	$105K	20x
Bitget EWJUSDT	0.0000%	8h	97.540	0.000%	$738K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.579	+0.040%	$109K	$23K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT EWJ_USDT_Perpshort	0.0000%	8h	97.585	+0.046%	$626K	$406K	10x
SunX EWJ-USDT	0.0000%	8h	97.475	−0.067%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.335	−0.210%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0016%	8h	97.540	0.000%	$43K	$68K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.520	−0.021%	$150K	$1.0M	20x	as long as short
tradeXYZ xyz:EWJ	+0.0133%	1h	97.548	+0.008%	$1.4M	$545K	20x	as long as short