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 +0.012%

Price spread now: MEXC against Variational Omni+0.049%7-day average −0.002% · you sell dearer than you buy

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

Long on Variational Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.049%, 7d avg −0.002%

Together, before fees−0.037%+ Points / potential airdropVariational Omni: Active · farm board−$4 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: MEXC is 0.052% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWJ	97.682	0	get 0.0000% / 8h	22m 39s	$110K	$22K	—
Short	MEXC EWJ_USDT	97.730	0	get 0.0000% / 8h	22m 39s	$403K	$105K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Variational Omni. 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 Variational OmnibpFee MEXCbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → −0.002%: $5.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $5.17
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 16 min ago; MEXC: live order book, 53 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, 16 min ago	3.44 bp	doesn't fit	79.0 bp −$790	doesn't fit	doesn't fit
Sell MEXC live order book, 53 min ago	1.02 bp	7.0 bp −$7	14.9 bp −$149	60.4 bp −$6,041	155.5 bp −$77.7K

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	−0.0660%	4h	97.668	−0.014%	$595K	$232K	20x	as long as short
Gate EWJ_USDT	−0.0146%	8h	97.670	−0.012%	$345K	$194K	25x	as long as short
Aster EWJUSDT	0.0000%	8h	97.684	+0.002%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.715	+0.034%	$1.1M	$866K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.710	+0.029%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.700	+0.019%	$296K	$113K	20x	as long as short
MEXC EWJ_USDTshort	0.0000%	8h	97.730	+0.049%	$403K	$105K	20x
Bitget EWJUSDT	0.0000%	8h	97.720	+0.039%	$746K	$142K	20x	as long as short
Variational Omni EWJlong	0.0000%	8h	97.682	long leg	$110K	$22K	—
GRVT EWJ_USDT_Perp	0.0000%	8h	97.684	+0.002%	$626K	$403K	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	97.653	−0.030%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.533	−0.152%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0012%	8h	97.680	−0.002%	$43K	$68K	20x	as long as short
tradeXYZ xyz:EWJ	+0.0067%	1h	97.733	+0.052%	$1.5M	$545K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.620	−0.063%	$149K	$1.0M	20x	as long as short
Hotstuff EWJ-PERP	+0.0520%	1h	97.710	+0.029%	$34K	—	20x	as long as short