Funding arb · Price arb /

JPM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h +0.004%

Price spread now: QFEX against Gate+0.009%7-day average +0.029% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$344as in the Price arb table

costs, in and out, $10k−$3423.422% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.009%, 7d avg +0.029%

Together, before fees−0.109%−$11 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 0.021% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.029%.

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	4h 43m	$731K	$232K	25x
Short	QFEX JPM-USD	352.08	0.0007	get 0.0001% / 1h	43m 28s	$1.1M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $1.38
Price spread: +0.009% → +0.029%: −$2.08
Slippage, 4 orders: −$317.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$342.86
Costs to cover: 3.422%
Break-even: 1749.2 days

Slippage from Gate: live order book, 13 min ago; QFEX: live order book, 4 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 Gate live order book, 13 min ago	5.68 bp	261.2 bp −$261	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	27.13 bp	32.6 bp −$33	39.9 bp −$399	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	−0.0679%	4h	352.05	+0.001%	$36K	$172K	10x	as long as short
Injective JPM/USDC PERP	−0.0220%	1h	348.41	−1.034%	$7K	$45K	12x	as long as short
Aster JPMUSDT	0.0000%	8h	352.15	+0.029%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.15	+0.027%	$929K	$488K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.34	+0.082%	$154K	$1.1M	25x	as long as short
Gate JPM_USDTlong	0.0000%	8h	352.05	long leg	$731K	$232K	25x
Bitget JPMUSDT	0.0000%	8h	352.15	+0.028%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.06	+0.002%	$119K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.16	+0.031%	$5K	$84K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.12	+0.020%	$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	351.90	−0.043%	$7K	$38K	20x	as long as short
QFEX JPM-USDshort	+0.0007%	1h	352.08	+0.009%	$1.1M	$2.8M	10x
BloFin JPM-USDT	+0.0014%	8h	352.16	+0.031%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	351.95	−0.028%	$155K	$876K	20x	as long as short