Funding you earn now, next payment 12:00 UTC+0.0187%/8h= +20.4% APRnext payment +$0.23 per $10,000 · paid last 24h +0.028%
Price spread now: Hotstuff against tradeXYZ−0.025%408s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 airdroptradeXYZ: Active · Hotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. Hotstuff is 0.025% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$6 a day). The two prices were read 408 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 | tradeXYZ xyz:JPY | 157.11 | −0.0115 | get 0.0014% / 1h | 44m 47s | $29.7M | $3.3M | 50x |
| Short | Hotstuff USDJPY-PERP | 157.07 | 0.0072 | get 0.0009% / 1h | 44m 47s | $33K | — | 50x |
tradeXYZ xyz:JPY
Hotstuff USDJPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against tradeXYZ. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $39.19
- Price spread: −0.025% → 0.000%
- −$2.55
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- $13.64
- Costs to cover
- 0.230%
- Break-even
- 4.6 days
Slippage unknown: tradeXYZ: live order book, 8 min ago; Hotstuff: 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 tradeXYZ live order book, 8 min ago | 1.27 bp | 10.6 bp −$11 | 12.4 bp −$124 | 14.4 bp −$1,439 | doesn't fit |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
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 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 | |
|---|---|---|---|---|---|---|---|---|
| Extended USDJPY-USD | −0.0272% | 1h | 157.18 | +0.047% | $849K | $89K | 25x | as long as short |
| Bitget USDJPYUSDT | −0.0262% | 8h | 157.16 | +0.032% | $574K | $107K | 100x | as long as short |
| Lighter USDJPY | −0.0216% | 1h | 156.97 | −0.087% | $603K | $388K | 50x | as long as short |
| tradeXYZ xyz:JPYlong | −0.0115% | 1h | 157.11 | long leg | $29.7M | $3.3M | 50x | |
| edgeX USDJPYUSDC | −0.0025% | 4h | 157.05 | −0.041% | $8K | $138K | 50x | as long as short |
| Nado USDJPY-PERP | −0.0017% | 1h | 157.23 | +0.075% | $98K | $1K | 40x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 156.89 | −0.142% | $291K | $123K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.17 | +0.038% | $24K | $21K | 50x | as long as short |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.09 | −0.013% | — | $1.6M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 156.94 | −0.108% | $9K | $308K | 20x | as long as short |
Extended USDJPY-USD
Bitget USDJPYUSDT
Lighter USDJPY
edgeX USDJPYUSDC
Nado USDJPY-PERP
Bybit USDJPYUSDT
Orderly PERP_USDJPY_USDC
SunX USDJPY-USDT
HTX USDJPY-USDTShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 157.01 | −0.062% | $35K | $4K | 10x | as long as short |
| Hotstuff USDJPY-PERPshort | +0.0072% | 1h | 157.07 | −0.025% | $33K | — | 50x | |
| Pacifica USDJPY | +0.0100% | 1h | 157.11 | 0.000% | $94K | $24K | 50x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 156.87 | −0.151% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0143% | 1h | 157.08 | −0.018% | $25K | $87K | 101x | as long as short |
Ondo Perps USDJPY-USD.P
Pacifica USDJPY
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP