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 +0.097%

Price spread now: MEXC against OKX+0.051%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$630.630% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.051%, 7d avg +0.009%

Together, before fees+0.086%+$9 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: MEXC is 0.042% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.009%.

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	12m 33s	$296K	$113K	20x
Short	MEXC EWJ_USDT	97.750	0	get 0.0000% / 8h	12m 33s	$403K	$106K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.009%: $4.21
Slippage, 4 orders: −$53.03
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$58.82
Costs to cover: 0.630%
Break-even: never at this rate

Slippage from OKX: live order book, 23 min ago; MEXC: live order book, 63 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, 23 min ago	3.58 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 63 min ago	1.02 bp	7.0 bp −$7	14.9 bp −$149	60.4 bp −$6,041	155.5 bp −$77.7K

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	−0.0364%	4h	97.715	+0.015%	$596K	$234K	20x	as long as short
Gate EWJ_USDT	−0.0155%	8h	97.700	0.000%	$345K	$195K	25x	as long as short
BloFin EWJ-USDT	−0.0003%	8h	97.730	+0.031%	$43K	$68K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.678	−0.022%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.751	+0.052%	$1.1M	$868K	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_USDTshort	0.0000%	8h	97.750	+0.051%	$403K	$106K	20x
Bitget EWJUSDT	0.0000%	8h	97.740	+0.041%	$745K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.734	+0.035%	$110K	$22K	—	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_Perp	0.0000%	8h	97.708	+0.008%	$627K	$403K	10x	as long as short
SunX EWJ-USDT	0.0000%	8h	97.719	+0.019%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.703	+0.003%	$8K	$38K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0080%	1h	97.742	+0.043%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.660	−0.041%	$150K	$1.0M	20x	as long as short
Hotstuff EWJ-PERP	+0.0160%	1h	97.740	+0.041%	$34K	—	20x	as long as short