Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against Gate−1.020%84s7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.341%−$34 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 1.020% cheaper against Gate than usual: you would sell low and buy high (−$102 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 84 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	Gate JPM_USDT	352.05	0	get 0.0000% / 8h	2h 55m	$731K	$222K	25x
Short	Injective JPM/USDC PERP	348.46	−0.0220	pay 0.0028% / 1h	55m 50s	$7K	$45K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −1.020%Rate

Funding earned: −$46.2
Price spread: −1.020% → 0.000%: −$101.97
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$163.19
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 56 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 Gate live order book, 56 min ago	6.39 bp	272.9 bp −$273	doesn't fit	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
Injective JPM/USDC PERPshort	−0.0220%	1h	348.46	−1.020%	$7K	$45K	12x
Aster JPMUSDT	0.0000%	8h	352.18	+0.037%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.00	−0.014%	$933K	$493K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.21	+0.045%	$153K	$1.1M	25x	as long as short
Gate JPM_USDTlong	0.0000%	8h	352.05	long leg	$731K	$222K	25x
Bitget JPMUSDT	0.0000%	8h	352.07	+0.006%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	351.92	−0.036%	$119K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.35	+0.085%	$5K	$80K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	351.76	−0.082%	$1K	$854K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	351.74	−0.088%	$7K	$38K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX JPM-USD	+0.0003%	1h	351.98	−0.020%	$1.1M	$2.6M	10x	as long as short
BloFin JPM-USDT	+0.0029%	8h	352.21	+0.045%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.07	+0.006%	$155K	$905K	20x	as long as short
edgeX JPMUSDC	+0.0980%	4h	352.23	+0.051%	$36K	$172K	10x	as long as short