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 +0.121%

Price spread now: GRVT against OKX−0.055%61s7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1061.064% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.055%, 7d avg 0.000%

Together, before fees+0.283%+ Points / potential airdropGRVT: Active · farm board+$28 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 0.056% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX EWJ-USDT-SWAP	97.700	0	get 0.0000% / 8h	1h 04m	$296K	$113K	20x
Short	GRVT EWJ_USDT_Perp	97.646	0	get 0.0000% / 8h	1h 04m	$626K	$401K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → 0.000%: −$5.55
Slippage, 4 orders: −$87.36
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$111.91
Costs to cover: 1.064%
Break-even: never at this rate

Slippage from OKX: live order book, 36 min ago; GRVT: live order book, 38 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, 36 min ago	3.07 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 38 min ago	0.51 bp	26.6 bp −$27	88.0 bp −$880	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	−0.0092%	8h	97.660	−0.041%	$345K	$202K	25x	as long as short
BloFin EWJ-USDT	−0.0018%	8h	97.710	+0.010%	$43K	$69K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.655	−0.046%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.690	−0.010%	$1.1M	$858K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.710	+0.010%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAPlong	0.0000%	8h	97.700	long leg	$296K	$113K	20x
MEXC EWJ_USDT	0.0000%	8h	97.690	−0.010%	$403K	$106K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.660	−0.041%	$745K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.679	−0.022%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perpshort	0.0000%	8h	97.646	−0.055%	$626K	$401K	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWJ-USDT	0.0000%	8h	97.624	−0.078%	$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	97.728	+0.029%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.580	−0.123%	$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