Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.044%

Price spread now: Gate against tradeXYZ−0.043%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1441.442% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.043%, 7d avg −0.009%

Together, before fees−0.227%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.034% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:EWJ	97.742	0.0088	pay 0.0011% / 1h	4m 30s	$1.5M	$545K	20x
Short	Gate EWJ_USDT	97.700	−0.0164	pay 0.0164% / 8h	4m 30s	$345K	$195K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.043%Rate

Funding earned: −$52.89
Price spread: −0.043% → −0.009%: −$3.44
Slippage, 4 orders: −$111.17
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$200.5
Costs to cover: 1.442%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 3 min ago; Gate: live order book, 31 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, 3 min ago	3.48 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 31 min ago	9.21 bp	72.3 bp −$72	doesn't fit	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_USDTshort	−0.0164%	8h	97.700	−0.043%	$345K	$195K	25x
Aster EWJUSDT	0.0000%	8h	97.680	−0.063%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.730	−0.012%	$1.1M	$867K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.710	−0.033%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.700	−0.043%	$296K	$113K	20x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.740	−0.002%	$403K	$106K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.740	−0.002%	$745K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.733	−0.009%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.743	+0.001%	$627K	$402K	10x	as long as short
SunX EWJ-USDT	0.0000%	8h	97.699	−0.044%	$1K	$1.4M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EWJ-USDT	0.0000%	8h	97.519	−0.228%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0015%	8h	97.710	−0.033%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJlong	+0.0088%	1h	97.742	long leg	$1.5M	$545K	20x
KuCoin EWJUSDTM	+0.0100%	8h	97.710	−0.033%	$150K	$1.0M	20x	as long as short
edgeX EWJUSDC	+0.0140%	4h	97.731	−0.012%	$596K	$233K	20x	as long as short
Hotstuff EWJ-PERP	+0.0192%	1h	97.740	−0.002%	$34K	—	20x	as long as short