EWJ xyz xyz:EWJ

Indices

EWJ is an ETF tracking the MSCI Japan index, a broad basket of Japanese large- and mid-cap stocks; this contract references its share price. Tracked here on Hyperliquid (xyz) with live mark, funding, open interest and premium to oracle.

94.48 −0.15%

B Grade B

Zones and levels Screener

How good a synthetic is it?

How this is graded ›

Measured against the venue's own oracle — the price the perp is pulled toward, over the last 30 days of 15-minute samples.

Tracking

Good

4.1 bps

Typical distance between the traded price and the venue’s oracle while the underlying market is open. It sits within 10 bps of it 86.1% of the time.

Cost to trade it: the venue’s impact bid/ask spread runs 16.1 bps, median over the same window. It is context, not part of the rating.

median, 30 days

Reopen fidelity

Good

8.7 bps

How far the price moves when the underlying market reopens — how close the venue’s closed-hours price was to reality. It was closer than the last real price 88% of the time.

median of 17 reopens

Cost of carry

Good

2.1% a year

Funding actually paid over the last 30 days — longs pay at this rate. This is the running cost of holding the position, before fees.

30 days

Liquidity

Weak

$170.2K 24h volume

Open interest $1.1M. Weekend liquidity is not yet available.

latest snapshot

Every reopen

When the underlying market reopens, the oracle snaps back to the real price. The jump is how far the venue's closed-hours price was from reality.

Median jump 8.7 bps across 17 rated closures. The venue’s closed-hours price was closer to the reopening price than the last real price 88% of the time. Rows below are the last reopens captured, which can cover a different set of closures than the median.

DateClosureVenue priceReal reopenJumpBeat the close?
28 Oct 2026 Overnight not rated 95.4 95.172-23.9 bpsYes
26 Oct 2026 Weekend 94.524 94.472-5.5 bpsYes
21 Oct 2026 Overnight 95.626 95.8+18.2 bpsYes
16 Oct 2026 Overnight 94.995 95.275+29.5 bpsYes
13 Oct 2026 Holiday 97.024 97.207+18.9 bpsNo
9 Oct 2026 Overnight not rated 97.024 97.244+22.7 bpsYes
8 Oct 2026 Overnight 98.404 98.329-7.6 bpsYes
7 Oct 2026 Overnight 99.53 99.659+13.0 bpsNo
6 Oct 2026 Overnight 99.315 99.315+0.0 bpsYes
5 Oct 2026 Weekend not rated 98.601 98.663+6.3 bpsYes
2 Oct 2026 Overnight 97.401 97.521+12.3 bpsYes
1 Oct 2026 Overnight not rated 97.842 97.916+7.6 bpsYes
30 Sep 2026 Overnight 96.644 96.616-2.9 bpsYes
29 Sep 2026 Overnight 96.778 96.785+0.7 bpsYes
28 Sep 2026 Weekend 98.149 98.161+1.2 bpsYes
25 Sep 2026 Overnight 95.673 95.565-11.3 bpsYes
24 Sep 2026 Overnight 97.287 97.223-6.6 bpsYes
23 Sep 2026 Overnight 98.587 98.595+0.8 bpsYes
22 Sep 2026 Holiday 98.16 98.285+12.7 bpsYes
18 Sep 2026 Overnight 97.884 97.799-8.7 bpsYes

Download this reopen record (CSV) Open data, licensed CC BY 4.0: copy, adapt and publish it, commercially included, with credit — “AlgoTraderPro HIP-3 reopen record (2026), CC BY 4.0” — and a link to this page.

90-day history

Open interest (USD), 90 days
Funding APR, 90 days
Premium to oracle, 90 days

Contract mechanics

What it tracks
iShares MSCI Japan ETF — indices. This is a perpetual contract that references that price; it is not the underlying security, and it never expires or rolls.
Trading hours
Follows the CME futures session: Sunday 18:00 to Friday 17:00 New York time, with a one-hour break every day at 17:00, and CME holidays. The contract itself trades on Hyperliquid 24/7.
When the real market is closed
The oracle does not freeze. With no external price it starts from the last one and then drifts with Hyperliquid’s own book — a 30-minute exponential average of the gap between the impact bid/ask and the oracle — and snaps back to the real price on the first tick after the market reopens. Funding is charged against that oracle throughout, which is why the jump at each reopening is worth measuring.
Leverage
Up to 20×
Margin mode
Isolated only
Settles in
USDC — margin and profit are in this token, not the quote of the underlying market.
Deployer’s documentation
trade.xyz docs →