Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Variational Omni against QFEX+0.009%7-day average −0.025% · you sell dearer than you buy

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.009%, 7d avg −0.025%

Together, before fees−0.026%+ Points / potential airdropVariational Omni: Active · farm board−$3 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: Variational Omni is 0.034% dearer against QFEX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX JPM-USD	351.97	0.0000	pay 0.0000% / 1h	49m 16s	$1.1M	$2.7M	10x
Short	Variational Omni JPM	352.00	0	get 0.0000% / 8h	3h 49m	$119K	$7K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.009%Rate

Funding earned: −$0.02
Price spread: +0.009% → −0.025%: $3.41
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.61
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; Variational Omni: RFQ quote, 5 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 QFEX live order book, 3 min ago	52.13 bp	57.6 bp −$58	66.2 bp −$662	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.63 bp	doesn't fit	91.4 bp −$914	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
Injective JPM/USDC PERP	−0.0220%	1h	348.49	−0.989%	$7K	$45K	12x	as long as short
edgeX JPMUSDC	−0.0194%	4h	351.95	−0.004%	$36K	$171K	10x	as long as short
BloFin JPM-USDT	−0.0001%	8h	352.01	+0.011%	$89K	$27K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.09	+0.035%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.08	+0.031%	$929K	$486K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.33	+0.102%	$154K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.01	+0.011%	$731K	$225K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.09	+0.034%	$205K	$11K	20x	as long as short
Variational Omni JPMshort	0.0000%	8h	352.00	+0.009%	$119K	$7K	—
GRVT JPM_USDT_Perp	0.0000%	8h	352.05	+0.023%	$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	351.91	−0.017%	$1K	$856K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	351.82	−0.043%	$7K	$38K	20x	as long as short
QFEX JPM-USDlong	0.0000%	1h	351.97	long leg	$1.1M	$2.7M	10x
KuCoin JPMUSDTM	+0.0100%	8h	351.77	−0.057%	$156K	$886K	20x	as long as short