Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.044%

Price spread now: Bitget against tradeXYZ−0.010%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$690.685% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.010%, 7d avg +0.016%

Together, before fees−0.163%+ Points / potential airdroptradeXYZ: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.026% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:EWJ	97.750	0.0096	pay 0.0012% / 1h	49m 27s	$1.5M	$545K	20x
Short	Bitget EWJUSDT	97.740	0	get 0.0000% / 8h	49m 27s	$746K	$142K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. 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 tradeXYZbpFee BitgetbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$20.1
Price spread: −0.010% → +0.016%: −$2.57
Slippage, 4 orders: −$38.51
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$91.18
Costs to cover: 0.685%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; Bitget: live order book, 51 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 tradeXYZ live order book, 7 min ago	2.86 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 51 min ago	5.12 bp	16.5 bp −$16	30.9 bp −$309	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	−0.0207%	4h	97.733	−0.017%	$596K	$233K	20x	as long as short
Gate EWJ_USDT	−0.0115%	8h	97.700	−0.051%	$345K	$193K	25x	as long as short
Aster EWJUSDT	0.0000%	8h	97.694	−0.058%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.749	−0.001%	$1.1M	$866K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.690	−0.061%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.700	−0.051%	$296K	$113K	20x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.740	−0.010%	$403K	$104K	20x	as long as short
Bitget EWJUSDTshort	0.0000%	8h	97.740	−0.010%	$746K	$142K	20x
Variational Omni EWJ	0.0000%	8h	97.732	−0.018%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.744	−0.006%	$626K	$405K	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	97.689	−0.062%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.551	−0.204%	$8K	$37K	20x	as long as short
BloFin EWJ-USDT	+0.0006%	8h	97.720	−0.031%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJlong	+0.0096%	1h	97.750	long leg	$1.5M	$545K	20x
KuCoin EWJUSDTM	+0.0100%	8h	97.670	−0.082%	$151K	$1.0M	20x	as long as short
Hotstuff EWJ-PERP	+0.0216%	1h	97.720	−0.031%	$34K	—	20x	as long as short