Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.012%

Price spread now: Binance against Backpack−0.244%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 4 days (all we have)+0.325%+$33 · spread now −0.244%, 7d avg −0.024%

Together, before fees+0.225%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.220% cheaper against Backpack than usual: you would sell low and buy high (spread −0.244% now, against its 7-day average of −0.024%). If the spread goes back, that is −$22 on $10k: about 54 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2967	0.0086	pay 0.0011% / 1h	3m 16s	$982K	$254K	10x
Short	Binance JUPUSDT	0.2960	0.0100	get 0.0050% / 4h	1h 03m	$16.3M	$54.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.244%Rate

Funding earned: $2.87
Price spread: −0.244% → −0.024%: −$22.02
Slippage, 4 orders: −$17.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$56.84
Costs to cover: 0.377%
Break-even: 145.8 days

Slippage from Backpack: live order book, 16 min ago; Binance: live order book, 9 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 Backpack live order book, 16 min ago	0.84 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.69 bp	10.7 bp −$11	25.8 bp −$258	118.1 bp −$11.8K	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	0.2923	−1.480%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2960	−0.239%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2964	−0.103%	$282K	$169K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0175%	1h	0.2963	−0.132%	$601K	$618K	20x	as long as short
01 Exchange JUPUSD	−0.0016%	1h	0.2963	−0.135%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2960	−0.233%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2961	−0.194%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0016%	4h	0.2960	−0.233%	$746K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.339%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0065%	4h	0.2959	−0.270%	$16.2M	$23.1M	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	+0.0077%	8h	0.2963	−0.138%	$9K	$13K	10x	as long as short
Backpack JUP_USDC_PERPlong	+0.0086%	1h	0.2967	long leg	$982K	$254K	10x
Lighter JUP	+0.0096%	1h	0.2966	−0.024%	$795K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	−0.317%	$612K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2965	−0.078%	$19.1M	$13.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2962	−0.157%	$107K	$359K	10x	as long as short
Binance JUPUSDTshort	+0.0100%	4h	0.2960	−0.244%	$16.3M	$54.1M	75x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2957	−0.334%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	−0.469%	$57K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2960	−0.233%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2963	−0.131%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	−0.233%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	−0.199%	—	$20.9M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2956	−0.364%	$714K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2962	−0.175%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2958	−0.300%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2964	−0.084%	$93K	$130K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2961	−0.199%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.300%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.037%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2960	−0.233%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0113%	4h	0.2960	−0.233%	$846K	$327K	50x	as long as short
dYdX JUP-USD	+0.0121%	1h	0.2965	−0.078%	$39K	$35K	5x	as long as short
Phoenix JUP	+0.0190%	1h	0.2962	−0.182%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2960	−0.243%	$2.2M	$505K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2964	−0.098%	$74K	$94K	50x	as long as short