Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.012%

Price spread now: edgeX against Binance−0.029%90s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.574% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 2 days (all we have)+0.024%+$2 · spread now −0.029%, 7d avg −0.009%

Together, before fees+0.139%+ Points / potential airdropedgeX: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.020% cheaper against Binance than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of −0.009%). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.115% in total) that is about 30 hours. The two prices were read 90 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	Binance JPMUSDT	352.27	0	get 0.0000% / 8h	7h 02m	$934K	$493K	20x
Short	edgeX JPMUSDC	352.16	0.0110	get 0.0055% / 4h	3h 02m	$36K	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $23.14
Price spread: −0.029% → −0.009%: −$2.04
Slippage, 4 orders: −$38.37
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.27
Costs to cover: 0.574%
Break-even: 18.0 days

Slippage from Binance: live order book, 60 min ago; edgeX: live order book, 29 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 Binance live order book, 60 min ago	0.85 bp	7.8 bp −$8	46.4 bp −$464	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	6.97 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit

JPM on 14 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
Gate JPM_USDT	−0.0931%	8h	352.26	−0.002%	$727K	$199K	25x	as long as short
GRVT JPM_USDT_Perp	−0.0485%	8h	352.19	−0.022%	$5K	$80K	10x	as long as short
Injective JPM/USDC PERP	−0.0220%	1h	345.91	−1.805%	$7K	$34K	12x	as long as short
Aster JPMUSDT	0.0000%	8h	352.10	−0.047%	$3K	$388	20x	as long as short
Binance JPMUSDTlong	0.0000%	8h	352.27	long leg	$934K	$493K	20x
Bybit JPMUSDT	0.0000%	8h	352.63	+0.103%	$154K	$1.1M	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.00	−0.076%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.17	−0.029%	$119K	$6K	—	as long as short
SunX JPM-USDT	0.0000%	8h	352.11	−0.045%	$1K	$792K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	351.97	−0.085%	$7K	$39K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JPM-USDT	+0.0018%	8h	352.21	−0.017%	$90K	$28K	20x	as long as short
QFEX JPM-USD	+0.0019%	1h	352.09	−0.051%	$1.1M	$2.4M	10x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.23	−0.011%	$155K	$986K	20x	as long as short
edgeX JPMUSDCshort	+0.0110%	4h	352.16	−0.029%	$36K	$172K	10x