Funding arb · Price arb /

USDJPY

RWAall USDJPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0286%/8h= +31.3% APRpaid last 24h +0.050%

Price spread now: Aevo against edgeX−0.126%48s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Aevo

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

Funding pays, the price is against you. Aevo is 0.126% cheaper against edgeX than usual: you would sell low and buy high (spread −0.126% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 35 hours of funding at the current rate (+$9 a day). The two prices were read 48 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	edgeX USDJPYUSDC	157.11	−0.0182	get 0.0091% / 4h	9m 27s	$9K	$137K	50x
Short	Aevo USDJPY-PERP	156.91	0.0104	get 0.0013% / 1h	9m 27s	$25K	$500	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against edgeX. 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 edgeXbpFee AevobpOrdersPrice spread, now −0.126%Rate

Funding earned: $60.09
Price spread: −0.126% → 0.000%: −$12.57
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aevo: 8 bp × 2 orders: −$16
Net: $22.52
Costs to cover: 0.250%
Break-even: 4.4 days

Slippage unknown: edgeX: live order book, 30 min ago; Aevo: no order-book sample. 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 edgeX live order book, 30 min ago	2.23 bp	6.8 bp −$7	13.8 bp −$138	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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 exchanges

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
Hotstuff USDJPY-PERP	−0.0800%	1h	157.07	−0.023%	$33K	—	50x	as long as short
edgeX USDJPYUSDClong	−0.0182%	4h	157.11	long leg	$9K	$137K	50x
Bitget USDJPYUSDT	−0.0170%	8h	157.12	+0.009%	$573K	$90K	100x	as long as short
Lighter USDJPY	−0.0144%	1h	156.96	−0.091%	$607K	$393K	50x	as long as short
tradeXYZ xyz:JPY	−0.0110%	1h	157.06	−0.030%	$29.7M	$3.3M	50x	as long as short
Extended USDJPY-USD	−0.0088%	1h	157.15	+0.027%	$849K	$89K	25x	as long as short
Nado USDJPY-PERP	−0.0019%	1h	157.20	+0.058%	$98K	$1K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	156.98	−0.082%	$301K	$130K	100x	as long as short
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.14	+0.021%	$24K	$21K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.07	−0.023%	—	$1.5M	10x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX USDJPY-USDT	0.0000%	1h	156.98	−0.081%	$9K	$307K	20x	as long as short
Ondo Perps USDJPY-USD.P	+0.0050%	1h	157.02	−0.056%	$35K	$3K	10x	as long as short
Pacifica USDJPY	+0.0100%	1h	156.99	−0.077%	$94K	$24K	50x	as long as short
Aevo USDJPY-PERPshort	+0.0104%	1h	156.91	−0.126%	$25K	$500	10x
Injective USDJPY/USDC PERP	+0.0143%	1h	157.19	+0.054%	$25K	$87K	101x	as long as short