Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Backpack against ApeX Omni+0.098%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$530.531% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 3 days (all we have)−0.205%−$20 · spread now +0.098%, 7d avg −0.023%

Together, before fees−0.145%−$15 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: Backpack is 0.121% dearer against ApeX Omni than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni JUPUSDT	0.2954	0.0100	pay 0.0013% / 1h	41m 28s	$157K	$319K	50x
Short	Backpack JUP_USDC_PERP	0.2957	0.0100	get 0.0013% / 1h	41m 28s	$979K	$260K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → −0.023%: $12.07
Slippage, 4 orders: −$33.05
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$40.99
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 41 min ago; Backpack: live order book, 42 min ago.

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 ApeX Omni live order book, 41 min ago	6.72 bp	20.4 bp −$20	111.4 bp −$1,114	doesn't fit	doesn't fit
Sell Backpack live order book, 42 min ago	0.17 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit

JUP on 36 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 JUP/USDC PERP	−0.3508%	1h	0.2918	−1.219%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0537% / S +0.0372%	1h	0.2958	+0.122%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2958	+0.139%	$282K	$173K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2955	+0.037%	$599K	$619K	20x	as long as short
01 Exchange JUPUSD	−0.0096%	1h	0.2959	+0.162%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0021%	1h	0.2957	+0.085%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2958	+0.134%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0010%	4h	0.2956	+0.068%	$737K	$1.9M	75x	as long as short
Bybit JUPUSDT	+0.0043%	4h	0.2957	+0.091%	$16.2M	$23.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2955	+0.034%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0067%	8h	0.2957	+0.111%	$9K	$15K	10x	as long as short
BloFin JUP-USDT	+0.0076%	4h	0.2954	0.000%	$851K	$331K	50x	as long as short
dYdX JUP-USD	+0.0079%	1h	0.2958	+0.123%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2960	+0.190%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	+0.110%	$613K	$673K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	+0.244%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2959	+0.182%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	+0.080%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2955	+0.034%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	+0.102%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	+0.169%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	+0.102%	$5.6M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	+0.068%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.2957	+0.098%	$979K	$260K	10x
Variational Omni JUP	+0.0100%	4h	0.2947	−0.230%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.001%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2954	long leg	$157K	$319K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2961	+0.240%	$93K	$137K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	+0.102%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2949	−0.169%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.237%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.102%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2956	+0.057%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	+0.051%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.200%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.202%	$74K	$94K	50x	as long as short