Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0069%/8h= +7.6% APRpaid last 24h −0.042%

Price spread now: tradeXYZ against Variational Omni−0.036%7-day average −0.037% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.036%, 7d avg −0.037%

Together, before fees−0.045%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EWJ	97.883	0	get 0.0000% / 8h	1h 53m	$110K	$22K	—
Short	tradeXYZ xyz:EWJ	97.848	0.0069	get 0.0009% / 1h	53m 47s	$1.5M	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.036%Rate

Funding earned: $14.58
Price spread: −0.036% → −0.037%: $0.16
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$3.25
Costs to cover: 0.180%
Break-even: 8.6 days

Slippage unknown: Variational Omni: RFQ quote, 55 min ago; tradeXYZ: live order book, 3 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, 55 min ago	2.62 bp	doesn't fit	88.1 bp −$881	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.61 bp	13.2 bp −$13	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
BloFin EWJ-USDT	−0.0028%	8h	97.830	−0.054%	$43K	$68K	20x	as long as short
Aster EWJUSDT	0.0000%	8h	97.765	−0.121%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.820	−0.064%	$1.1M	$854K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.830	−0.054%	$192K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.870	−0.013%	$297K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.790	−0.095%	$347K	$196K	25x	as long as short
MEXC EWJ_USDT	0.0000%	8h	97.820	−0.064%	$272K	$87K	20x	as long as short
Bitget EWJUSDT	0.0000%	8h	97.810	−0.074%	$748K	$144K	20x	as long as short
Variational Omni EWJlong	0.0000%	8h	97.883	long leg	$110K	$22K	—
GRVT EWJ_USDT_Perp	0.0000%	8h	97.909	+0.026%	$628K	$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	97.755	−0.131%	$2K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.687	−0.200%	$8K	$37K	20x	as long as short
edgeX EWJUSDC	+0.0036%	4h	97.837	−0.047%	$596K	$234K	20x	as long as short
tradeXYZ xyz:EWJshort	+0.0069%	1h	97.848	−0.036%	$1.5M	$549K	20x
Hotstuff EWJ-PERP	+0.0080%	1h	97.900	+0.018%	$34K	—	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.800	−0.085%	$151K	$985K	20x	as long as short