Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h −0.098%

Price spread now: Bybit against edgeX+0.057%101s7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as 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−$1411.411% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.156%−$16 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now +0.057%, 7d avg +0.052%

Together, before fees−0.086%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 101 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	edgeX JPMUSDC	351.91	0.0202	pay 0.0101% / 4h	1h 35m	$36K	$171K	10x
Short	Bybit JPMUSDT	352.11	0	get 0.0000% / 8h	5h 35m	$153K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$42.41
Price spread: +0.057% → +0.052%: $0.43
Slippage, 4 orders: −$121.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$183.07
Costs to cover: 1.411%
Break-even: never at this rate

Slippage from edgeX: live order book, 26 min ago; Bybit: live order book, 5 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 edgeX live order book, 26 min ago	6.53 bp	14.2 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.27 bp	59.7 bp −$60	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
Injective JPM/USDC PERP	−0.0220%	1h	348.44	−0.986%	$7K	$45K	12x	as long as short
BloFin JPM-USDT	−0.0013%	8h	351.96	+0.014%	$90K	$26K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	351.85	−0.017%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	351.92	+0.002%	$926K	$487K	20x	as long as short
Bybit JPMUSDTshort	0.0000%	8h	352.11	+0.057%	$153K	$1.1M	25x
Gate JPM_USDT	0.0000%	8h	351.96	+0.014%	$731K	$249K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	351.81	−0.029%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	351.91	−0.001%	$119K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.00	+0.024%	$5K	$84K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	351.85	−0.017%	$1K	$870K	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	351.77	−0.040%	$7K	$38K	20x	as long as short
QFEX JPM-USD	+0.0016%	1h	351.92	+0.003%	$1.1M	$2.9M	10x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	351.94	+0.008%	$155K	$848K	20x	as long as short
edgeX JPMUSDClong	+0.0202%	4h	351.91	long leg	$36K	$171K	10x