Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0214%/8h= −23.5% APRpaid last 24h +0.025%

Price spread now: edgeX against GRVT−0.035%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · edgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and edgeX is 0.035% cheaper against GRVT than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.011% in total (about -0.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JPM_USDT_Perp	352.05	0	get 0.0000% / 8h	2h 51m	$5K	$80K	10x
Short	edgeX JPMUSDC	351.92	−0.0214	pay 0.0107% / 4h	2h 51m	$36K	$171K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against GRVT. 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 GRVTbpFee edgeXbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$45.01
Price spread: −0.035% → 0.000%: −$3.46
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$66.46
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GRVT: no order-book sample; edgeX: live order book, 60 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 GRVT no order-book sample	—	—	—	—	—
Sell edgeX live order book, 60 min ago	6.11 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit

GRVT: 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 PERP	−0.0220%	1h	348.46	−1.019%	$7K	$45K	12x	as long as short
edgeX JPMUSDCshort	−0.0214%	4h	351.92	−0.035%	$36K	$171K	10x
BloFin JPM-USDT	−0.0001%	8h	351.99	−0.016%	$90K	$27K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.12	+0.022%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.00	−0.013%	$933K	$488K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.20	+0.044%	$153K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.04	−0.002%	$731K	$222K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.07	+0.007%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	351.92	−0.035%	$119K	$7K	—	as long as short
GRVT JPM_USDT_Perplong	0.0000%	8h	352.05	long leg	$5K	$80K	10x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX JPM-USDT	0.0000%	8h	351.75	−0.084%	$1K	$852K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	351.74	−0.087%	$7K	$38K	20x	as long as short
QFEX JPM-USD	+0.0003%	1h	351.94	−0.030%	$1.1M	$2.6M	10x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	351.96	−0.025%	$155K	$908K	20x	as long as short