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% APRpaid last 24h +0.006%

Price spread now: Phemex against ApeX Omni+0.068%77s7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.751% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.207%+$21 · spread now +0.068%, 7d avg +0.120%

Together, before fees+0.260%+$26 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: Phemex is 0.052% cheaper against ApeX Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.120%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni JUPUSDT	0.2956	0.0100	pay 0.0013% / 1h	11m 49s	$157K	$320K	50x
Short	Phemex JUPUSDT	0.2958	0.0100	get 0.0050% / 4h	1h 11m	$2.9M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → +0.120%: −$5.19
Slippage, 4 orders: −$53.06
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$80.25
Costs to cover: 0.751%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Phemex: live order book, 2 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, 5 min ago	6.77 bp	17.0 bp −$17	113.0 bp −$1,130	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.69 bp	18.3 bp −$18	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	0.2911	−1.522%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2955	−0.048%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2954	−0.061%	$281K	$171K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2954	−0.055%	$598K	$616K	20x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2954	−0.051%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2955	−0.017%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2956	−0.017%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0010%	4h	0.2952	−0.135%	$745K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.081%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0071%	4h	0.2952	−0.135%	$16.2M	$23.2M	50x	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	+0.0076%	8h	0.2953	−0.102%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	−0.007%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	−0.008%	$611K	$670K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2958	+0.054%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2955	−0.047%	$106K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2952	−0.135%	$16.3M	$54.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2952	−0.135%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.101%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2953	−0.101%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	−0.034%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2953	−0.101%	$5.6M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2952	−0.135%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2953	−0.088%	$977K	$254K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2952	−0.148%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	+0.034%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2956	long leg	$157K	$320K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	+0.088%	$93K	$131K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	−0.034%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.338%	$111K	$67K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2958	+0.068%	$2.9M	$4.0M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2952	−0.134%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0129%	1h	0.2957	+0.022%	$39K	$35K	5x	as long as short
BloFin JUP-USDT	+0.0148%	4h	0.2954	−0.068%	$844K	$327K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.129%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2952	−0.147%	$2.2M	$504K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2957	+0.047%	$74K	$94K	50x	as long as short