Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h +0.012%

Price spread now: BingX against Backpack−0.037%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.037%, 7d avg −0.047%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2958	−0.0071	get 0.0009% / 1h	52m 11s	$979K	$235K	10x
Short	BingX JUP-USDT	0.2957	0.0100	get 0.0050% / 4h	2h 52m	—	$20.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.037%Rate

Funding earned: $35.84
Price spread: −0.037% → −0.047%: $0.94
Slippage, 4 orders: −$17.2
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$0.43
Costs to cover: 0.372%
Break-even: 7.1 days

Slippage from Backpack: live order book, 17 min ago; BingX: live order book, 1 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, 17 min ago	1.66 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	5.09 bp	10.1 bp −$10	13.5 bp −$135	26.4 bp −$2,636	82.9 bp −$41.4K

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	−0.4347%	1h	0.2904	−1.829%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2954	−0.139%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2957	−0.025%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0182%	4h	0.2953	−0.162%	$15.9M	$20.7M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0088%	4h	0.2957	−0.037%	$4.0M	$15.0M	50x	as long as short
01 Exchange JUPUSD	−0.0072%	1h	0.2960	+0.051%	$26K	$19K	5x	as long as short
Backpack JUP_USDC_PERPlong	−0.0071%	1h	0.2958	long leg	$979K	$235K	10x
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2958	+0.003%	$595K	$524K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2954	−0.154%	$39K	$31K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	−0.051%	$54K	$16K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2957	−0.027%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2956	−0.086%	—	—	20x	as long as short
Gate JUP_USDT	+0.0066%	4h	0.2954	−0.139%	$743K	$1.5M	75x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2956	−0.054%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2959	+0.034%	$783K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2958	−0.003%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	−0.029%	$608K	$611K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	+0.014%	$18.9M	$11.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.037%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.064%	$16.3M	$47.7M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	+0.436%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	−0.037%	$7.5M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	−0.105%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.037%	$5.7M	$6.7M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2957	−0.037%	—	$20.8M	—
Variational Omni JUP	+0.0100%	4h	0.2938	−0.678%	$713K	$768K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2945	−0.433%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2964	+0.199%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.179%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.206%	$111K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2954	−0.147%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.156%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2941	−0.565%	$96K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2960	+0.061%	$74K	$58K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.240%	$854K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0537%	4h	0.2961	+0.098%	$2.9M	$3.6M	50x	as long as short