Funding arb · Price arb /

USDJPY

RWAall USDJPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.047%

Price spread now: Bitget against Extended−0.042%7-day average +0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.042%, 7d avg +0.107%

Together, before fees+0.029%+ Points / potential airdropExtended: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.148% cheaper against Extended than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.107%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended USDJPY-USD	157.49	0.0032	pay 0.0004% / 1h	58m 32s	$841K	$82K	25x
Short	Bitget USDJPYUSDT	157.42	0	get 0.0000% / 8h	1h 58m	$574K	$175K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$6.72
Price spread: −0.042% → +0.107%: −$14.81
Slippage, 4 orders: −$24.18
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$62.71
Costs to cover: 0.412%
Break-even: never at this rate

Slippage from Extended: live order book, 49 min ago; Bitget: live order book, 46 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 Extended live order book, 49 min ago	4.29 bp	15.3 bp −$15	74.9 bp −$749	doesn't fit	doesn't fit
Sell Bitget live order book, 46 min ago	0.63 bp	6.7 bp −$7	8.8 bp −$88	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	−0.0174%	1h	157.39	−0.061%	$29.3M	$3.1M	50x	as long as short
edgeX USDJPYUSDC	−0.0028%	4h	157.38	−0.070%	$5K	$135K	50x	as long as short
Lighter USDJPY	−0.0024%	1h	157.34	−0.095%	$552K	$360K	50x	as long as short
Nado USDJPY-PERP	−0.0006%	1h	157.53	+0.029%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	157.26	−0.141%	$281K	$174K	100x	as long as short
Hotstuff USDJPY-PERP	0.0000%	1h	157.40	−0.054%	$33K	—	50x	as long as short
Bitget USDJPYUSDTshort	0.0000%	8h	157.42	−0.042%	$574K	$175K	100x
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.48	−0.003%	$25K	$52K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.36	−0.080%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.21	−0.175%	$9K	$319K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended USDJPY-USDlong	+0.0032%	1h	157.49	long leg	$841K	$82K	25x
Ondo Perps USDJPY-USD.P	+0.0050%	1h	157.33	−0.096%	$35K	$7K	10x	as long as short
Pacifica USDJPY	+0.0100%	1h	157.30	−0.120%	$95K	$63K	50x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.28	−0.134%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0186%	1h	157.52	+0.020%	$40K	$72K	101x	as long as short