Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.004%

Price spread now: Gate against QFEX+0.026%7-day average −0.029% · 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−$337as in the Price arb table

costs, in and out, $10k−$3423.422% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now +0.026%, 7d avg −0.029%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.055% dearer against QFEX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX JPM-USD	352.08	0.0007	pay 0.0001% / 1h	44m 03s	$1.1M	$2.8M	10x
Short	Gate JPM_USDT	352.17	0	get 0.0000% / 8h	4h 44m	$731K	$232K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against QFEX. 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 QFEXbpFee GatebpOrdersPrice spread, now +0.026%Rate

Funding earned: −$1.38
Price spread: +0.026% → −0.029%: $5.49
Slippage, 4 orders: −$317.15
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$338.04
Costs to cover: 3.422%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Gate: live order book, 12 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 QFEX live order book, 4 min ago	27.13 bp	32.7 bp −$33	39.6 bp −$396	doesn't fit	doesn't fit
Sell Gate live order book, 12 min ago	5.68 bp	15.6 bp −$16	doesn't fit	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	−0.0679%	4h	352.05	−0.007%	$36K	$172K	10x	as long as short
Injective JPM/USDC PERP	−0.0220%	1h	348.41	−1.042%	$7K	$45K	12x	as long as short
Aster JPMUSDT	0.0000%	8h	352.14	+0.016%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.11	+0.009%	$929K	$487K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.15	+0.020%	$154K	$1.1M	25x	as long as short
Gate JPM_USDTshort	0.0000%	8h	352.17	+0.026%	$731K	$232K	25x
Bitget JPMUSDT	0.0000%	8h	352.15	+0.020%	$205K	$11K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.06	−0.006%	$119K	$7K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.17	+0.026%	$5K	$84K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.12	+0.011%	$1K	$859K	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	351.90	−0.051%	$7K	$38K	20x	as long as short
QFEX JPM-USDlong	+0.0007%	1h	352.08	long leg	$1.1M	$2.8M	10x
BloFin JPM-USDT	+0.0014%	8h	352.16	+0.023%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	351.89	−0.054%	$155K	$875K	20x	as long as short