Funding arb · Price arb /

EWZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0492%/8h= +53.9% APRpaid last 24h +0.062%

Price spread now: Binance against tradeXYZ−0.045%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1161.162% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 2 days (all we have)+0.142%+$14 · spread now −0.045%, 7d avg +0.024%

Together, before fees−0.120%+ Points / potential airdroptradeXYZ: Active · farm board−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.068% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.024%). If the spread goes back, that is −$7 on $10k: about 11 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.262%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.262% in total (about -13.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:EWZ	38.017	−0.0492	get 0.0062% / 1h	9m 09s	$593K	$81K	20x
Short	Binance EWZUSDT	38.000	0	get 0.0000% / 8h	4h 09m	$295K	$229K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.045%Rate

Funding earned: $103.39
Price spread: −0.045% → +0.024%: −$6.83
Slippage, 4 orders: −$88.22
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$19.66
Costs to cover: 1.162%
Break-even: 8.3 days

Slippage from tradeXYZ: live order book, 17 min ago; Binance: live order book, 52 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, 17 min ago	7.50 bp	30.8 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 52 min ago	2.63 bp	26.2 bp −$26	103.1 bp −$1,031	doesn't fit	doesn't fit

EWZ on 13 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
tradeXYZ xyz:EWZlong	−0.0492%	1h	38.017	long leg	$593K	$81K	20x
Aster EWZUSDT	0.0000%	8h	37.998	−0.050%	$9K	$50	20x	as long as short
Binance EWZUSDTshort	0.0000%	8h	38.000	−0.045%	$295K	$229K	20x
Bybit EWZUSDT	0.0000%	8h	37.980	−0.097%	$328K	$17K	25x	as long as short
OKX EWZ-USDT-SWAP	0.0000%	8h	38.060	+0.113%	$124K	$38K	20x	as long as short
Gate EWZ_USDT	0.0000%	8h	37.980	−0.097%	$61K	$7K	20x	as long as short
MEXC EWZ_USDT	0.0000%	8h	37.980	−0.097%	$722K	$84K	50x	as long as short
Bitget EWZUSDT	0.0000%	8h	38.011	−0.016%	$80K	$17K	20x	as long as short
Variational Omni EWZ	0.0000%	8h	38.003	−0.037%	$49K	$6K	—	as long as short
SunX EWZ-USDT	0.0000%	8h	38.010	−0.018%	$1K	$484K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EWZ-USDT	0.0000%	8h	37.970	−0.124%	$5K	$6K	10x	as long as short
GRVT EWZ_USDT_Perp	+0.0022%	8h	38.014	−0.007%	$3	$142K	10x	as long as short
KuCoin EWZUSDTM	+0.0100%	8h	37.930	−0.229%	$21K	$718K	20x	as long as short