Funding arb · Price arb /

JPM

RWAall JPM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0679%/8h= −74.4% APRpaid last 24h +0.098%

Price spread now: edgeX against Variational Omni−0.001%7-day average −0.009% · you buy dearer than you sell

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

Long on Variational Omni Short on edgeX

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)−0.034%−$3 · spread now −0.001%, 7d avg −0.009%

Together, before fees−0.039%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.004% in total (about -0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JPM	352.06	0	get 0.0000% / 8h	4h 43m	$119K	$7K	—
Short	edgeX JPMUSDC	352.05	−0.0679	pay 0.0340% / 4h	43m 12s	$36K	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Variational Omni. 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 Variational OmnibpFee edgeXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$142.68
Price spread: −0.001% → −0.009%: $0.79
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$150.89
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 16 min ago; edgeX: live order book, 13 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, 16 min ago	2.93 bp	doesn't fit	95.9 bp −$959	doesn't fit	doesn't fit
Sell edgeX live order book, 13 min ago	5.26 bp	13.4 bp −$13	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 JPMUSDCshort	−0.0679%	4h	352.05	−0.001%	$36K	$172K	10x
Injective JPM/USDC PERP	−0.0220%	1h	348.41	−1.036%	$7K	$45K	12x	as long as short
BloFin JPM-USDT	−0.0026%	8h	352.16	+0.029%	$90K	$27K	20x	as long as short
Aster JPMUSDT	0.0000%	8h	352.16	+0.028%	$3K	$437	20x	as long as short
Binance JPMUSDT	0.0000%	8h	352.15	+0.025%	$929K	$488K	20x	as long as short
Bybit JPMUSDT	0.0000%	8h	352.34	+0.080%	$154K	$1.1M	25x	as long as short
Gate JPM_USDT	0.0000%	8h	352.19	+0.037%	$731K	$232K	25x	as long as short
Bitget JPMUSDT	0.0000%	8h	352.15	+0.026%	$205K	$11K	20x	as long as short
Variational Omni JPMlong	0.0000%	8h	352.06	long leg	$119K	$7K	—
GRVT JPM_USDT_Perp	0.0000%	8h	352.16	+0.028%	$5K	$84K	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	352.12	+0.018%	$1K	$859K	10x	as long as short
HTX JPM-USDT	0.0000%	8h	352.29	+0.066%	$7K	$38K	20x	as long as short
QFEX JPM-USD	+0.0007%	1h	352.08	+0.006%	$1.1M	$2.8M	10x	as long as short
KuCoin JPMUSDTM	+0.0100%	8h	351.96	−0.028%	$155K	$876K	20x	as long as short