Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.096%

Price spread now: Injective against KuCoin−0.986%115s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.552%−$55 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 0.986% cheaper against KuCoin than usual: you would sell low and buy high (−$99 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 115 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	KuCoin JPMUSDTM	351.97	0.0100	pay 0.0100% / 8h	7h 43m	$155K	$958K	20x
Short	Injective JPM/USDC PERP	348.50	−0.0220	pay 0.0028% / 1h	43m 23s	$7K	$34K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −0.986%Rate

Funding earned: −$67.2
Price spread: −0.986% → 0.000%: −$98.59
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$177.81
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 21 min ago; Injective: no order-book sample. 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 KuCoin live order book, 21 min ago	18.74 bp	1159.1 bp −$1,159	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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
Gate JPM_USDT	−0.0922%	8h	351.77	−0.057%	$724K	$195K	25x	as long as short
edgeX JPMUSDC	−0.0629%	4h	351.85	−0.035%	$36K	$173K	10x	as long as short
Injective JPM/USDC PERPshort	−0.0220%	1h	348.50	−0.986%	$7K	$34K	12x
Aster JPMUSDT	0.0000%	8h	352.32	+0.100%	$3K	$388	20x	as long as short
Binance JPMUSDT	0.0000%	8h	351.74	−0.065%	$934K	$500K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	351.89	−0.023%	$153K	$1.1M	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	351.89	−0.023%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	351.95	−0.005%	$120K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	351.99	+0.006%	$6K	$79K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	351.54	−0.122%	$1K	$789K	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	351.82	−0.043%	$7K	$39K	20x	as long as short
BloFin JPM-USDT	+0.0016%	8h	351.99	+0.006%	$90K	$27K	20x	as long as short
QFEX JPM-USD	+0.0019%	1h	351.44	−0.151%	$1.1M	$2.4M	10x	as long as short
KuCoin JPMUSDTMlong	+0.0100%	8h	351.97	long leg	$155K	$958K	20x