Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.026%

Price spread now: QFEX against KuCoin+0.074%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$721as in the Price arb table

costs, in and out, $10k−$7297.289% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.074%, 7d avg −0.008%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.082% dearer against KuCoin than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of −0.008%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JPMUSDTM	352.18	0.0100	pay 0.0100% / 8h	1h 23m	$155K	$958K	20x
Short	QFEX JPM-USD	352.44	0.0005	get 0.0001% / 1h	23m 33s	$1.1M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$19.87
Price spread: +0.074% → −0.008%: $8.19
Slippage, 4 orders: −$706.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$740.63
Costs to cover: 7.289%
Break-even: never at this rate

Slippage from KuCoin: live order book, 56 min ago; QFEX: live order book, 9 min ago.

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, 56 min ago	26.26 bp	552.7 bp −$553	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.70 bp	7.0 bp −$7	14.5 bp −$145	doesn't fit	doesn't fit

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	−0.0646%	4h	352.48	+0.086%	$36K	$171K	10x	as long as short
Injective JPM/USDC PERP	−0.0220%	1h	347.62	−1.295%	$7K	$45K	12x	as long as short
BloFin JPM-USDT	−0.0023%	8h	352.42	+0.068%	$90K	$27K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.46	+0.079%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.55	+0.105%	$941K	$489K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.52	+0.097%	$154K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.51	+0.094%	$727K	$204K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.23	+0.014%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.48	+0.086%	$120K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.55	+0.105%	$5K	$82K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX JPM-USDT	0.0000%	8h	352.59	+0.116%	$1K	$809K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	352.29	+0.031%	$7K	$39K	20x	as long as short
QFEX JPM-USDshort	+0.0005%	1h	352.44	+0.074%	$1.1M	$2.5M	10x
KuCoin JPMUSDTMlong	+0.0100%	8h	352.18	long leg	$155K	$958K	20x