Funding arb · Price arb /

USDJPY

RWAall USDJPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.052%

Price spread now: edgeX against Aevo+0.051%72s7-day average — · you sell dearer than you buy

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

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.051% dearer against Aevo than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 26 hours. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo USDJPY-PERP	157.50	0.0104	pay 0.0013% / 1h	22m 22s	$25K	$500	10x
Short	edgeX USDJPYUSDC	157.58	−0.0052	pay 0.0026% / 4h	22m 22s	$5K	$134K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aevo. 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 AevobpFee edgeXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$32.84
Price spread: +0.051% → 0.000%: $5.11
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$52.73
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; edgeX: live order book, 14 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 Aevo no order-book sample	—	—	—	—	—
Sell edgeX live order book, 14 min ago	2.22 bp	6.8 bp −$7	13.9 bp −$139	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USDJPY on 15 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
Bitget USDJPYUSDT	−0.0400%	8h	157.43	−0.047%	$574K	$134K	100x	as long as short
tradeXYZ xyz:JPY	−0.0358%	1h	157.59	+0.055%	$29.4M	$3.0M	50x	as long as short
Hotstuff USDJPY-PERP	−0.0176%	1h	157.59	+0.055%	$33K	—	50x	as long as short
Pacifica USDJPY	−0.0162%	1h	157.44	−0.040%	$95K	$63K	50x	as long as short
Ondo Perps USDJPY-USD.P	−0.0143%	1h	157.56	+0.036%	$35K	$4K	10x	as long as short
Extended USDJPY-USD	−0.0104%	1h	157.74	+0.151%	$842K	$82K	25x	as long as short
Lighter USDJPY	−0.0064%	1h	157.56	+0.033%	$552K	$358K	50x	as long as short
edgeX USDJPYUSDCshort	−0.0052%	4h	157.58	+0.051%	$5K	$134K	50x
Nado USDJPY-PERP	−0.0018%	1h	157.78	+0.175%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	157.27	−0.148%	$282K	$142K	100x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.73	+0.144%	$25K	$52K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.57	+0.042%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.63	+0.080%	$9K	$316K	20x	as long as short
Aevo USDJPY-PERPlong	+0.0104%	1h	157.50	long leg	$25K	$500	10x
Injective USDJPY/USDC PERP	+0.0148%	1h	157.79	+0.182%	$44K	$72K	101x	as long as short