Funding arb · Price arb /

JPM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Gate−0.025%7-day average +0.008% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.025%, 7d avg +0.008%

Together, before fees−0.036%+ Points / potential airdropVariational Omni: Active · farm board−$4 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: Variational Omni is 0.033% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate JPM_USDT	352.37	0	get 0.0000% / 8h	2h 19m	$727K	$228K	25x
Short	Variational Omni JPM	352.28	0	get 0.0000% / 8h	2h 19m	$120K	$7K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.008%: −$3.29
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.29
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 27 min ago; Variational Omni: RFQ quote, 29 min ago. 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, 27 min ago	2.98 bp	33.0 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 29 min ago	3.22 bp	doesn't fit	89.5 bp −$895	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	−0.024%	$36K	$172K	10x	as long as short
Injective JPM/USDC PERP	−0.0220%	1h	348.50	−1.098%	$7K	$45K	12x	as long as short
Aster JPMUSDT	0.0000%	8h	352.40	+0.008%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.33	−0.013%	$938K	$500K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.52	+0.043%	$154K	$1.1M	25x	as long as short
Gate JPM_USDTlong	0.0000%	8h	352.37	long leg	$727K	$228K	25x
Bitget JPMUSDT	0.0000%	8h	352.21	−0.045%	$205K	$11K	20x	as long as short
Variational Omni JPMshort	0.0000%	8h	352.28	−0.025%	$120K	$7K	—
GRVT JPM_USDT_Perp	0.0000%	8h	352.37	0.000%	$5K	$82K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.29	−0.023%	$909	$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	352.37	0.000%	$6K	$39K	20x	as long as short
QFEX JPM-USD	+0.0003%	1h	352.16	−0.060%	$1.1M	$2.6M	10x	as long as short
BloFin JPM-USDT	+0.0020%	8h	352.43	+0.017%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.38	+0.003%	$157K	$921K	20x	as long as short