Funding arb · Price arb /

JPM

RWAall JPM markets

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: Bybit against Variational Omni+0.020%7-day average +0.044% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.020%, 7d avg +0.044%

Together, before fees−0.002%+ Points / potential airdropVariational Omni: Active · farm board$0 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: Bybit is 0.023% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JPM	352.10	0	get 0.0000% / 8h	4h 49m	$119K	$7K	—
Short	Bybit JPMUSDT	352.17	0	get 0.0000% / 8h	4h 49m	$154K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.044%: −$2.32
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.32
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 9 min ago; Bybit: live order book, 1 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, 9 min ago	2.93 bp	doesn't fit	95.9 bp −$959	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.55 bp	50.4 bp −$50	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
Injective JPM/USDC PERP	−0.0220%	1h	348.41	−1.048%	$7K	$45K	12x	as long as short
Aster JPMUSDT	0.0000%	8h	352.19	+0.026%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.15	+0.016%	$929K	$488K	20x	as long as short
Bybit JPMUSDTshort	0.0000%	8h	352.17	+0.020%	$154K	$1.1M	25x
Gate JPM_USDT	0.0000%	8h	352.14	+0.012%	$731K	$232K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	351.84	−0.073%	$205K	$11K	20x	as long as short
Variational Omni JPMlong	0.0000%	8h	352.10	long leg	$119K	$7K	—
GRVT JPM_USDT_Perp	0.0000%	8h	352.15	+0.015%	$5K	$84K	10x	as long as short
SunX JPM-USDT	0.0000%	8h	352.12	+0.006%	$1K	$860K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	351.95	−0.042%	$7K	$38K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX JPM-USD	+0.0007%	1h	352.07	−0.008%	$1.1M	$2.8M	10x	as long as short
BloFin JPM-USDT	+0.0013%	8h	352.31	+0.060%	$90K	$27K	20x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	352.21	+0.032%	$156K	$871K	20x	as long as short
edgeX JPMUSDC	+0.0745%	4h	352.11	+0.005%	$36K	$172K	10x	as long as short