Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.066%

Price spread now: SunX against Injective+1.784%61s7-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 SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 1.784% dearer against Injective than usual: you sell high and buy low (spread +1.784% now, against zero (this spread has no 7-day history yet)): +$178 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6 months. Mind the row above: over the last 7 days funding on this pair paid +0.353%, so the current rate has only just turned against you. The two prices were read 61 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	345.91	0.0033	pay 0.0004% / 1h	27m 22s	$7K	$34K	12x
Short	SunX JPM-USDT	352.08	0	get 0.0000% / 8h	5h 27m	$1K	$752K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.784%Rate

Funding earned: −$7
Price spread: +1.784% → 0.000%: $178.37
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $163.35
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: 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 SunX live order book, 8 min ago	500.08 bp	doesn't fit	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 exchanges

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	−0.0593%	4h	352.20	+1.818%	$36K	$171K	10x	as long as short
Gate JPM_USDT	−0.0477%	8h	352.37	+1.868%	$727K	$145K	25x	as long as short
QFEX JPM-USD	−0.0160%	1h	352.11	+1.792%	$1.1M	$2.4M	10x	as long as short
BloFin JPM-USDT	−0.0012%	8h	352.33	+1.856%	$91K	$28K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.20	+1.820%	$3K	$388	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.24	+1.830%	$934K	$475K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.57	+1.925%	$154K	$54K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.08	+1.784%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.20	+1.819%	$120K	$6K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.33	+1.856%	$5K	$78K	10x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX JPM-USDTshort	0.0000%	8h	352.08	+1.784%	$1K	$752K	10x
HTX JPM-USDT	0.0000%	8h	352.05	+1.775%	$7K	$39K	20x	as long as short
Injective JPM/USDC PERPlong	+0.0033%	1h	345.91	long leg	$7K	$34K	12x
KuCoin JPMUSDTM	+0.0100%	8h	352.31	+1.850%	$155K	$1.1M	20x	as long as short