Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against Binance−1.002%67s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.379%−$38 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 1.002% cheaper against Binance than usual: you would sell low and buy high (−$100 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 67 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	352.37	0	get 0.0000% / 8h	7h 52m	$941K	$485K	20x
Short	Injective JPM/USDC PERP	348.84	−0.0220	pay 0.0028% / 1h	52m 19s	$7K	$34K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.002%Rate

Funding earned: −$46.2
Price spread: −1.002% → 0.000%: −$100.22
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$156.44
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; Injective: 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 Binance live order book, 10 min ago	0.85 bp	7.8 bp −$8	46.4 bp −$464	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

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	−0.0478%	8h	352.43	+0.017%	$725K	$194K	25x	as long as short
edgeX JPMUSDC	−0.0317%	4h	352.19	−0.053%	$36K	$171K	10x	as long as short
Injective JPM/USDC PERPshort	−0.0220%	1h	348.84	−1.002%	$7K	$34K	12x
BloFin JPM-USDT	−0.0012%	8h	352.31	−0.017%	$90K	$27K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.41	+0.012%	$3K	$388	20x	as long as short
Binance JPMUSDTlong	0.0000%	8h	352.37	long leg	$941K	$485K	20x
Bybit JPMUSDT	0.0000%	8h	352.41	+0.011%	$154K	$1.1M	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.06	−0.088%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.18	−0.054%	$120K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.28	−0.026%	$5K	$79K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX JPM-USDT	0.0000%	8h	352.16	−0.060%	$1K	$783K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	352.06	−0.088%	$7K	$39K	20x	as long as short
QFEX JPM-USD	+0.0019%	1h	352.33	−0.012%	$1.2M	$2.4M	10x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.18	−0.054%	$155K	$958K	20x	as long as short