Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h 0.000%

Price spread now: QFEX against SunX−0.043%7-day average +0.065% · you buy dearer than you sell

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

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.043%, 7d avg +0.065%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.108% cheaper against SunX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX JPM-USDT	352.74	0	get 0.0000% / 8h	4h 08m	$910	$673K	10x
Short	QFEX JPM-USD	352.59	−0.0160	pay 0.0020% / 1h	8m 42s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$33.6
Price spread: −0.043% → +0.065%: −$10.77
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$62.37
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 16 min ago; QFEX: live order book, 2 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 SunX live order book, 16 min ago	500.13 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	2.27 bp	7.5 bp −$8	13.4 bp −$134	doesn't fit	doesn't fit

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
QFEX JPM-USDshort	−0.0160%	1h	352.59	−0.043%	$1.1M	$2.4M	10x
Gate JPM_USDT	−0.0126%	8h	352.91	+0.048%	$734K	$142K	25x	as long as short
BloFin JPM-USDT	−0.0026%	8h	352.89	+0.043%	$91K	$28K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.86	+0.033%	$3K	$388	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.87	+0.037%	$946K	$455K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.85	+0.031%	$154K	$56K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.76	+0.006%	$205K	$10K	20x	as long as short
Variational Omni JPM	0.0000%	8h	352.69	−0.014%	$120K	$6K	—	as long as short
GRVT JPM_USDT_Perp	0.0000%	8h	352.83	+0.026%	$5K	$82K	10x	as long as short
SunX JPM-USDTlong	0.0000%	8h	352.74	long leg	$910	$673K	10x

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX JPM-USDT	0.0000%	8h	352.78	+0.011%	$7K	$39K	20x	as long as short
Injective JPM/USDC PERP	+0.0033%	1h	349.11	−1.029%	$7K	$34K	12x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.59	−0.043%	$155K	$1.1M	20x	as long as short
edgeX JPMUSDC	+0.0594%	4h	352.69	−0.013%	$36K	$171K	10x	as long as short