Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.004%

Price spread now: QFEX against Bitget−0.009%46s7-day average +0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$1761.756% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.009%, 7d avg +0.107%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.115% cheaper against Bitget than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.107%. The two prices were read 46 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	Bitget JPMUSDT	352.19	0	get 0.0000% / 8h	2h 15m	$205K	$11K	20x
Short	QFEX JPM-USD	352.16	0.0003	get 0.0000% / 1h	15m 48s	$1.1M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. 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 BitgetbpFee QFEXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0.6
Price spread: −0.009% → +0.107%: −$11.53
Slippage, 4 orders: −$153.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$186.49
Costs to cover: 1.756%
Break-even: 2165.5 days

Slippage from Bitget: live order book, 24 min ago; QFEX: live order book, 2 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 Bitget live order book, 24 min ago	15.91 bp	23.7 bp −$24	43.1 bp −$431	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	51.95 bp	57.2 bp −$57	64.4 bp −$644	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
edgeX JPMUSDC	−0.0912%	4h	352.29	+0.028%	$36K	$172K	10x	as long as short
Injective JPM/USDC PERP	−0.0220%	1h	348.50	−1.048%	$7K	$45K	12x	as long as short
Aster JPMUSDT	0.0000%	8h	352.39	+0.057%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.31	+0.034%	$938K	$500K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.49	+0.085%	$154K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.28	+0.026%	$727K	$228K	25x	as long as short
Bitget JPMUSDTlong	0.0000%	8h	352.19	long leg	$205K	$11K	20x
Variational Omni JPM	0.0000%	8h	352.25	+0.017%	$120K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.37	+0.051%	$5K	$82K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.29	+0.028%	$1K	$859K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX JPM-USDT	0.0000%	8h	352.08	−0.031%	$7K	$39K	20x	as long as short
QFEX JPM-USDshort	+0.0003%	1h	352.16	−0.009%	$1.1M	$2.6M	10x
BloFin JPM-USDT	+0.0021%	8h	352.28	+0.026%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.31	+0.034%	$157K	$926K	20x	as long as short