Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.096%

Price spread now: KuCoin against Injective+2.461%7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.535%+$54 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 +$10 a day on $10k at the current rate, and KuCoin is 2.461% dearer against Injective than usual: you sell high and buy low: +$246 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective JPM/USDC PERP	343.77	−0.0220	get 0.0028% / 1h	11m 18s	$7K	$45K	12x
Short	KuCoin JPMUSDTM	352.23	0.0100	get 0.0100% / 8h	2h 11m	$157K	$930K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +2.461%Rate

Funding earned: $67.2
Price spread: +2.461% → 0.000%: $246.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $301.27
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 8 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 KuCoin live order book, 8 min ago	26.26 bp	162.2 bp −$162	doesn't fit	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
edgeX JPMUSDC	−0.0835%	4h	352.25	+2.468%	$36K	$171K	10x	as long as short
Injective JPM/USDC PERPlong	−0.0220%	1h	343.77	long leg	$7K	$45K	12x
Aster JPMUSDT	0.0000%	8h	352.33	+2.489%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.44	+2.523%	$938K	$496K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.61	+2.571%	$154K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.48	+2.534%	$727K	$229K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.21	+2.455%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.25	+2.466%	$120K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.37	+2.501%	$5K	$82K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.52	+2.545%	$1K	$844K	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	352.08	+2.417%	$7K	$39K	20x	as long as short
QFEX JPM-USD	+0.0003%	1h	352.23	+2.461%	$1.1M	$2.6M	10x	as long as short
BloFin JPM-USDT	+0.0019%	8h	352.39	+2.507%	$89K	$27K	20x	as long as short
KuCoin JPMUSDTMshort	+0.0100%	8h	352.23	+2.461%	$157K	$930K	20x