Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Binance against Injective+1.082%57s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.367%+$37 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Binance is 1.082% dearer against Injective than usual: you sell high and buy low: +$108 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	Injective JPM/USDC PERP	348.47	−0.0220	get 0.0028% / 1h	0m 15s	$7K	$45K	12x
Short	Binance JPMUSDT	352.24	0	get 0.0000% / 8h	3h 00m	$932K	$490K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +1.082%Rate

Funding earned: $46.2
Price spread: +1.082% → 0.000%: $108.19
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $144.37
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 47 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 47 min ago	1.14 bp	10.0 bp −$10	48.0 bp −$480	doesn't fit	doesn't fit

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 PERPlong	−0.0220%	1h	348.47	long leg	$7K	$45K	12x
Aster JPMUSDT	0.0000%	8h	352.28	+1.094%	$3K	$437	20x	as long as short
Binance JPMUSDTshort	0.0000%	8h	352.24	+1.082%	$932K	$490K	20x
Bybit JPMUSDT	0.0000%	8h	352.20	+1.070%	$153K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.23	+1.079%	$731K	$228K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.13	+1.050%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.23	+1.079%	$119K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.28	+1.094%	$5K	$80K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.03	+1.022%	$1K	$853K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	352.06	+1.030%	$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	0.0000%	1h	352.01	+1.016%	$1.1M	$2.6M	10x	as long as short
BloFin JPM-USDT	+0.0016%	8h	352.32	+1.105%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.19	+1.068%	$155K	$902K	20x	as long as short
edgeX JPMUSDC	+0.0708%	4h	352.22	+1.078%	$36K	$172K	10x	as long as short