Funding arb · Price arb /

EWJ

RWAall EWJ markets

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 +0.098%

Price spread now: Binance against OKX+0.051%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now +0.051%, 7d avg +0.026%

Together, before fees+0.238%+$24 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: Binance is 0.026% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX EWJ-USDT-SWAP	97.870	0	get 0.0000% / 8h	1h 57m	$297K	$113K	20x
Short	Binance EWJUSDT	97.920	0	get 0.0000% / 8h	1h 57m	$1.1M	$847K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.026%: $2.56
Slippage, 4 orders: −$54.2
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$71.64
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from OKX: live order book, 47 min ago; Binance: live order book, 4 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 OKX live order book, 47 min ago	3.58 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.53 bp	10.8 bp −$11	42.8 bp −$428	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	−0.0281%	4h	97.960	+0.092%	$597K	$233K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.862	−0.008%	$15K	$962	20x	as long as short
Binance EWJUSDTshort	0.0000%	8h	97.920	+0.051%	$1.1M	$847K	20x
Bybit EWJUSDT	0.0000%	8h	97.830	−0.041%	$192K	$24K	25x	as long as short
OKX EWJ-USDT-SWAPlong	0.0000%	8h	97.870	long leg	$297K	$113K	20x
Gate EWJ_USDT	0.0000%	8h	97.850	−0.020%	$347K	$192K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.910	+0.041%	$272K	$87K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.840	−0.031%	$748K	$144K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.802	−0.070%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.756	−0.116%	$627K	$397K	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	97.839	−0.032%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.720	−0.153%	$8K	$37K	20x	as long as short
BloFin EWJ-USDT	+0.0023%	8h	97.800	−0.072%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0080%	1h	97.911	+0.042%	$1.5M	$549K	20x	as long as short
Hotstuff EWJ-PERP	+0.0096%	1h	97.910	+0.041%	$34K	—	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.870	0.000%	$148K	$981K	20x	as long as short