Funding arb · Price arb /

JPM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Variational Omni−0.036%7-day average −0.086% · you buy dearer than you sell

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.036%, 7d avg −0.086%

Together, before fees−0.020%+ Points / potential airdropVariational Omni: Active · farm board−$2 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: Bitget is 0.050% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JPM	352.35	0	get 0.0000% / 8h	1m 44s	$119K	$7K	—
Short	Bitget JPMUSDT	352.22	0	get 0.0000% / 8h	1m 44s	$205K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. 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 Variational OmnibpFee BitgetbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.086%: $4.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$7.05
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 37 min ago; Bitget: live order book, 28 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 Variational Omni RFQ quote, 37 min ago	2.63 bp	doesn't fit	106.1 bp −$1,061	doesn't fit	doesn't fit
Sell Bitget live order book, 28 min ago	11.93 bp	40.1 bp −$40	77.2 bp −$772	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	348.86	−0.990%	$7K	$45K	12x	as long as short
BloFin JPM-USDT	−0.0025%	8h	352.35	+0.001%	$90K	$27K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.19	−0.044%	$3K	$388	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.33	−0.005%	$941K	$485K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.59	+0.069%	$154K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.27	−0.022%	$725K	$198K	25x	as long as short
Bitget JPMUSDTshort	0.0000%	8h	352.22	−0.036%	$205K	$11K	20x
Variational Omni JPMlong	0.0000%	8h	352.35	long leg	$119K	$7K	—
GRVT JPM_USDT_Perp	0.0000%	8h	352.43	+0.023%	$5K	$80K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.29	−0.016%	$1K	$781K	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	352.16	−0.053%	$7K	$39K	20x	as long as short
QFEX JPM-USD	+0.0014%	1h	352.23	−0.033%	$1.1M	$2.4M	10x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.07	−0.079%	$155K	$956K	20x	as long as short
edgeX JPMUSDC	+0.0860%	4h	352.35	+0.002%	$36K	$172K	10x	as long as short