Funding arb · Price arb /

EWJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.086%

Price spread now: Gate against Variational Omni+0.019%7-day average −0.042% · you sell dearer than you buy

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.019%, 7d avg −0.042%

Together, before fees−0.181%+ Points / potential airdropVariational Omni: Active · farm board−$18 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: Gate is 0.060% dearer against Variational Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWJ	97.802	0	get 0.0000% / 8h	1h 58m	$110K	$22K	—
Short	Gate EWJ_USDT	97.820	0	get 0.0000% / 8h	1h 58m	$347K	$190K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.042%: $6.03
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$8.97
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 50 min ago; Gate: live order book, 46 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, 50 min ago	2.62 bp	doesn't fit	88.1 bp −$881	doesn't fit	doesn't fit
Sell Gate live order book, 46 min ago	7.67 bp	35.5 bp −$36	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
edgeX EWJUSDC	−0.0281%	4h	97.960	+0.161%	$597K	$233K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.878	+0.078%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.905	+0.105%	$1.1M	$847K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.830	+0.029%	$192K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.780	−0.022%	$297K	$113K	20x	as long as short
Gate EWJ_USDTshort	0.0000%	8h	97.820	+0.019%	$347K	$190K	25x
MEXC EWJ_USDT	0.0000%	8h	97.870	+0.070%	$272K	$87K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.840	+0.039%	$748K	$144K	20x	as long as short
Variational Omni EWJlong	0.0000%	8h	97.802	long leg	$110K	$22K	—
GRVT EWJ_USDT_Perp	0.0000%	8h	97.756	−0.047%	$627K	$397K	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	97.782	−0.020%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.720	−0.084%	$8K	$37K	20x	as long as short
BloFin EWJ-USDT	+0.0023%	8h	97.800	−0.002%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0092%	1h	97.918	+0.119%	$1.5M	$549K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.840	+0.039%	$151K	$980K	20x	as long as short
Hotstuff EWJ-PERP	+0.0304%	1h	97.880	+0.080%	$34K	—	20x	as long as short