Funding arb · Price arb /

USDJPY

RWAall USDJPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h −0.021%

Price spread now: edgeX against Bitget+0.039%64s7-day average −0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.250% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.039%, 7d avg −0.117%

Together, before fees−0.041%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.156% dearer against Bitget than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.117%. The two prices were read 64 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	Bitget USDJPYUSDT	157.43	−0.0156	get 0.0156% / 8h	1h 06m	$574K	$153K	100x
Short	edgeX USDJPYUSDC	157.49	−0.0075	pay 0.0038% / 4h	1h 06m	$5K	$134K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $16.95
Price spread: +0.039% → −0.117%: $15.62
Slippage, 4 orders: −$4.01
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $7.55
Costs to cover: 0.250%
Break-even: 3.9 days

Slippage from Bitget: live order book, 33 min ago; edgeX: live order book, 35 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 Bitget live order book, 33 min ago	0.32 bp	6.3 bp −$6	12.5 bp −$125	doesn't fit	doesn't fit
Sell edgeX live order book, 35 min ago	1.59 bp	6.2 bp −$6	13.5 bp −$135	doesn't fit	doesn't fit

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
tradeXYZ xyz:JPY	−0.0307%	1h	157.50	+0.044%	$29.3M	$3.1M	50x	as long as short
Bitget USDJPYUSDTlong	−0.0156%	8h	157.43	long leg	$574K	$153K	100x
Hotstuff USDJPY-PERP	−0.0120%	1h	157.50	+0.044%	$33K	—	50x	as long as short
Ondo Perps USDJPY-USD.P	−0.0101%	1h	157.50	+0.048%	$35K	$7K	10x	as long as short
Lighter USDJPY	−0.0080%	1h	157.48	+0.032%	$552K	$360K	50x	as long as short
edgeX USDJPYUSDCshort	−0.0075%	4h	157.49	+0.039%	$5K	$134K	50x
Extended USDJPY-USD	−0.0064%	1h	157.65	+0.140%	$842K	$82K	25x	as long as short
Nado USDJPY-PERP	−0.0017%	1h	157.69	+0.168%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	157.28	−0.094%	$282K	$158K	100x	as long as short
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.62	+0.121%	$25K	$52K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX USDJPY-USDT	0.0000%	1h	157.48	+0.032%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.54	+0.070%	$9K	$317K	20x	as long as short
Pacifica USDJPY	+0.0100%	1h	157.39	−0.027%	$95K	$63K	50x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.41	−0.011%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0186%	1h	157.70	+0.170%	$40K	$72K	101x	as long as short