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Funding arb · Price arb /

USDJPY

RWAall USDJPY markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.007%
Price spread now: Bitget against Hotstuff−0.051%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.051% cheaper against Hotstuff than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff USDJPY-PERP157.50−0.0120get 0.0015% / 1h7m 18s$33K—50x
ShortBitget USDJPYUSDT157.42−0.0152pay 0.0152% / 8h1h 07m$574K$153K100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Hotstuff. 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

Funding earned
−$6.72
Price spread: −0.051% → 0.000%
−$5.08
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$28.8
Costs to cover
0.170%
Break-even
never at this rate
Slippage unknown: Hotstuff: no order-book sample; Bitget: live order book, 33 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample—————
Sell Bitget live order book, 33 min ago0.32 bp6.3 bp −$66.9 bp −$69doesn't fitdoesn't fit
Hotstuff: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
tradeXYZ xyz:JPY−0.0307%1h157.500.000%$29.3M$3.1M50xas long as short
Bitget USDJPYUSDTshort−0.0152%8h157.42−0.051%$574K$153K100x
Hotstuff USDJPY-PERPlong−0.0120%1h157.50long leg$33K—50x
Ondo Perps USDJPY-USD.P−0.0100%1h157.50+0.003%$35K$7K10xas long as short
Lighter USDJPY−0.0080%1h157.47−0.018%$552K$360K50xas long as short
edgeX USDJPYUSDC−0.0075%4h157.49−0.006%$5K$134K50xas long as short
Extended USDJPY-USD−0.0064%1h157.63+0.081%$842K$82K25xas long as short
Nado USDJPY-PERP−0.0017%1h157.67+0.109%$98K$7K40xas long as short
Bybit USDJPYUSDT0.0000%8h157.27−0.147%$282K$158K100xas long as short
Orderly PERP_USDJPY_USDC0.0000%8h157.62+0.076%$25K$52K50xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SunX USDJPY-USDT0.0000%1h157.48−0.013%—$2.4M10xas long as short
HTX USDJPY-USDT0.0000%1h157.54+0.025%$9K$317K20xas long as short
Pacifica USDJPY+0.0100%1h157.39−0.067%$95K$63K50xas long as short
Aevo USDJPY-PERP+0.0104%1h157.41−0.055%$25K$50010xas long as short
Injective USDJPY/USDC PERP+0.0186%1h157.70+0.126%$40K$72K101xas long as short