Funding arb · Price arb /

EWJ

RWAall EWJ markets

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 −0.017%

Price spread now: Gate against OKX−0.071%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1531.530% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.071%, 7d avg −0.030%

Together, before fees−0.016%−$2 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: Gate is 0.041% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX EWJ-USDT-SWAP	98.390	0	get 0.0000% / 8h	4h 10m	$299K	$125K	20x
Short	Gate EWJ_USDT	98.320	0	get 0.0000% / 8h	4h 10m	$350K	$221K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.030%: −$4.13
Slippage, 4 orders: −$128.04
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$157.17
Costs to cover: 1.530%
Break-even: never at this rate

Slippage from OKX: live order book, 28 min ago; Gate: live order book, 28 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, 28 min ago	2.54 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 28 min ago	4.58 bp	52.4 bp −$52	doesn't fit	doesn't fit	doesn't fit

EWJ on 16 exchanges

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	−0.0067%	4h	98.352	−0.039%	$600K	$232K	20x	as long as short
BloFin EWJ-USDT	−0.0010%	8h	98.330	−0.061%	$44K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	98.245	−0.147%	$18K	$4K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	98.360	−0.030%	$187K	$104K	25x	as long as short
OKX EWJ-USDT-SWAPlong	0.0000%	8h	98.390	long leg	$299K	$125K	20x
Gate EWJ_USDTshort	0.0000%	8h	98.320	−0.071%	$350K	$221K	25x
Bitget EWJUSDT	0.0000%	8h	98.340	−0.051%	$739K	$206K	20x	as long as short
SunX EWJ-USDT	0.0000%	8h	98.253	−0.139%	$2K	$1.5M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	98.211	−0.182%	$8K	$38K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0050%	1h	98.328	−0.063%	$1.5M	$651K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EWJ	+0.0065%	8h	98.297	−0.095%	$117K	$30K	—	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	98.320	−0.071%	$160K	$1.2M	20x	as long as short
Hotstuff EWJ-PERP	+0.0120%	1h	98.390	0.000%	$35K	—	20x	as long as short
MEXC EWJ_USDT	+0.0128%	8h	98.310	−0.081%	$686K	$274K	20x	as long as short
Binance EWJUSDT	+0.0128%	8h	98.320	−0.071%	$1.1M	$1.1M	20x	as long as short
GRVT EWJ_USDT_Perp	+0.0626%	8h	98.369	−0.021%	$631K	$418K	10x	as long as short