Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.054%

Price spread now: MEXC against tradeXYZ−0.003%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on tradeXYZ Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.003%, 7d avg +0.031%

Together, before fees−0.020%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC 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 +0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:EWJ	97.733	0.0050	pay 0.0006% / 1h	37m 44s	$1.5M	$549K	20x
Short	MEXC EWJ_USDT	97.730	0	get 0.0000% / 8h	1h 37m	$341K	$96K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$10.5
Price spread: −0.003% → +0.031%: −$3.36
Slippage, 4 orders: −$21.68
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee MEXC: 0 bp × 2 orders: $0
Net: −$53.54
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; MEXC: live order book, 43 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, 10 min ago	2.20 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 43 min ago	1.02 bp	7.0 bp −$7	14.6 bp −$146	59.1 bp −$5,906	170.6 bp −$85.3K

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
Aster EWJUSDT	0.0000%	8h	97.693	−0.041%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.710	−0.024%	$1.1M	$862K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.680	−0.054%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.670	−0.064%	$296K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.690	−0.044%	$345K	$199K	25x	as long as short
MEXC EWJ_USDTshort	0.0000%	8h	97.730	−0.003%	$341K	$96K	20x
Bitget EWJUSDT	0.0000%	8h	97.800	+0.069%	$747K	$142K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.678	−0.056%	$110K	$22K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.696	−0.038%	$626K	$405K	10x	as long as short
SunX EWJ-USDT	0.0000%	8h	97.637	−0.098%	$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	97.541	−0.196%	$8K	$37K	20x	as long as short
BloFin EWJ-USDT	+0.0015%	8h	97.650	−0.085%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJlong	+0.0050%	1h	97.733	long leg	$1.5M	$549K	20x
KuCoin EWJUSDTM	+0.0100%	8h	97.610	−0.126%	$150K	$996K	20x	as long as short
Hotstuff EWJ-PERP	+0.0192%	1h	97.720	−0.013%	$34K	—	20x	as long as short
edgeX EWJUSDC	+0.0299%	4h	97.702	−0.032%	$596K	$232K	20x	as long as short