Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Variational Omni against MEXC−0.022%7-day average +0.003% · you buy dearer than you sell

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.022%, 7d avg +0.003%

Together, before fees0.000%+ Points / potential airdropVariational Omni: Active · farm board$0 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: Variational Omni is 0.024% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC EWJ_USDT	97.700	0	get 0.0000% / 8h	1h 05m	$403K	$106K	20x
Short	Variational Omni EWJ	97.679	0	get 0.0000% / 8h	1h 05m	$110K	$22K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.003%: −$2.42
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$2.42
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 10 min ago; Variational Omni: RFQ quote, 38 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 MEXC live order book, 10 min ago	1.02 bp	5.4 bp −$5	15.4 bp −$154	60.2 bp −$6,018	152.0 bp −$76.0K
Sell Variational Omni RFQ quote, 38 min ago	2.62 bp	doesn't fit	82.9 bp −$829	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
Gate EWJ_USDT	−0.0086%	8h	97.690	−0.010%	$345K	$202K	25x	as long as short
BloFin EWJ-USDT	−0.0015%	8h	97.710	+0.010%	$43K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.653	−0.048%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.696	−0.004%	$1.1M	$857K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.700	0.000%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.700	0.000%	$296K	$113K	20x	as long as short
MEXC EWJ_USDTlong	0.0000%	8h	97.700	long leg	$403K	$106K	20x
Bitget EWJUSDT	0.0000%	8h	97.660	−0.041%	$746K	$142K	20x	as long as short
Variational Omni EWJshort	0.0000%	8h	97.679	−0.022%	$110K	$22K	—
GRVT EWJ_USDT_Perp	0.0000%	8h	97.646	−0.055%	$626K	$401K	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	97.659	−0.042%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.506	−0.199%	$8K	$37K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0050%	1h	97.685	−0.015%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.560	−0.143%	$150K	$1.0M	20x	as long as short
edgeX EWJUSDC	+0.0116%	4h	97.639	−0.062%	$595K	$232K	20x	as long as short
Hotstuff EWJ-PERP	+0.0128%	1h	97.710	+0.010%	$34K	—	20x	as long as short