Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0108%/8h= +11.9% APRpaid last 24h +0.044%

Price spread now: tradeXYZ against SunX+0.076%7-day average +0.010% · you sell dearer than you buy

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

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 4 days (all we have)−0.191%−$19 · spread now +0.076%, 7d avg +0.010%

Together, before fees−0.050%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and tradeXYZ is 0.066% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX EWJ-USDT	97.545	0	get 0.0000% / 8h	7h 37m	$1K	$1.4M	20x
Short	tradeXYZ xyz:EWJ	97.619	0.0108	get 0.0014% / 1h	37m 15s	$1.4M	$545K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against SunX. 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 SunXbpFee tradeXYZbpOrdersPrice spread, now +0.076%Rate

Funding earned: $22.77
Price spread: +0.076% → +0.010%: $6.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $3.37
Costs to cover: 0.260%
Break-even: 6.0 days

Slippage unknown: SunX: live order book, 7 min ago; tradeXYZ: live order book, 10 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 SunX live order book, 7 min ago	500.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	2.66 bp	18.0 bp −$18	29.8 bp −$298	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
Hotstuff EWJ-PERP	−0.0104%	1h	97.590	+0.046%	$34K	—	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.669	+0.127%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.611	+0.068%	$1.1M	$860K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.580	+0.036%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.670	+0.128%	$296K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.580	+0.036%	$341K	$179K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.620	+0.077%	$403K	$105K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.610	+0.067%	$739K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.584	+0.040%	$109K	$23K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.611	+0.067%	$626K	$406K	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-USDTlong	0.0000%	8h	97.545	long leg	$1K	$1.4M	20x
HTX EWJ-USDT	0.0000%	8h	97.468	−0.079%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0017%	8h	97.570	+0.026%	$43K	$68K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.570	+0.026%	$150K	$1.0M	20x	as long as short
tradeXYZ xyz:EWJshort	+0.0108%	1h	97.619	+0.076%	$1.4M	$545K	20x
edgeX EWJUSDC	+0.0288%	4h	97.584	+0.040%	$595K	$232K	20x	as long as short