Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.031%

Price spread now: Hyperliquid against ApeX Omni+0.203%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$630.628% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.600%−$60 · spread now +0.203%, 7d avg +0.055%

Together, before fees−0.584%+ Points / potential airdropHyperliquid: Season 2 · farm board−$58 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: Hyperliquid is 0.148% dearer against ApeX Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni JUPUSDT	0.2953	0.0100	pay 0.0013% / 1h	56m 58s	$157K	$266K	50x
Short	Hyperliquid JUP	0.2959	0.0100	get 0.0013% / 1h	56m 58s	$18.8M	$9.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.203%Rate

Funding earned: $0
Price spread: +0.203% → +0.055%: $14.83
Slippage, 4 orders: −$43.77
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$47.94
Costs to cover: 0.628%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 65 min ago; Hyperliquid: live order book, 6 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, 65 min ago	11.88 bp	20.6 bp −$21	112.7 bp −$1,127	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	1.86 bp	12.1 bp −$12	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	−0.4661%	1h	0.2910	−1.456%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2953	+0.005%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2939	−0.464%	$280K	$147K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2941	−0.389%	$38K	$26K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2954	+0.030%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2953	−0.003%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2946	−0.244%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2955	+0.077%	$591K	$489K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2957	+0.129%	$783K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2940	−0.426%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2944	−0.305%	$594K	$501K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2959	+0.203%	$18.8M	$9.6M	10x
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.018%	$114K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2953	0.000%	$16.3M	$42.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2953	0.000%	$15.8M	$18.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2956	+0.102%	$4.0M	$12.2M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	0.000%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2950	−0.102%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2952	−0.034%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2950	−0.102%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2956	+0.102%	$5.8M	$5.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2953	0.000%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2957	+0.142%	$981K	$249K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2948	−0.173%	$720K	$693K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2950	−0.114%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2953	long leg	$157K	$266K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2948	−0.159%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2954	+0.034%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.237%	$111K	$49K	20x	as long as short
Phemex JUPUSDT	+0.0101%	4h	0.2958	+0.169%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	+0.053%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2943	−0.342%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2949	−0.149%	$74K	$49K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2949	−0.146%	$98K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2953	0.000%	$846K	$384K	50x	as long as short
Extended JUP-USD	+0.0432%	1h	0.2953	−0.015%	$2.2M	$502K	25x	as long as short