Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.086%

Price spread now: Bitget against Variational Omni−0.080%7-day average −0.017% · you buy dearer than you sell

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.080%, 7d avg −0.017%

Together, before fees+0.006%+ Points / potential airdropVariational Omni: Active · farm board+$1 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: Bitget is 0.063% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWJ	98.469	0	get 0.0000% / 8h	4h 52m	$117K	$30K	—
Short	Bitget EWJUSDT	98.390	0	get 0.0000% / 8h	4h 52m	$739K	$200K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BitgetbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.017%: −$6.34
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$18.34
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 54 min ago; Bitget: live order book, 51 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 Variational Omni RFQ quote, 54 min ago	3.43 bp	doesn't fit	95.3 bp −$953	doesn't fit	doesn't fit
Sell Bitget live order book, 51 min ago	4.06 bp	16.3 bp −$16	35.7 bp −$357	doesn't fit	doesn't fit

EWJ on 16 exchanges

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	−0.0884%	4h	98.462	−0.007%	$600K	$232K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	98.398	−0.072%	$18K	$4K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	98.350	−0.121%	$188K	$103K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	98.420	−0.050%	$299K	$125K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	98.400	−0.070%	$350K	$217K	25x	as long as short
Bitget EWJUSDTshort	0.0000%	8h	98.390	−0.080%	$739K	$200K	20x
Variational Omni EWJlong	0.0000%	8h	98.469	long leg	$117K	$30K	—
SunX EWJ-USDT	0.0000%	8h	98.392	−0.078%	$1K	$1.5M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	98.248	−0.224%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0022%	8h	98.460	−0.009%	$44K	$69K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EWJ_USDT	+0.0062%	8h	98.370	−0.100%	$686K	$272K	20x	as long as short
Binance EWJUSDT	+0.0069%	8h	98.420	−0.050%	$1.1M	$1.1M	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	98.380	−0.090%	$160K	$1.1M	20x	as long as short
tradeXYZ xyz:EWJ	+0.0254%	1h	98.397	−0.073%	$1.5M	$664K	20x	as long as short
GRVT EWJ_USDT_Perp	+0.0738%	8h	98.459	−0.010%	$631K	$420K	10x	as long as short
Hotstuff EWJ-PERP	+0.1176%	1h	98.440	−0.029%	$35K	—	20x	as long as short