Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: HTX against Backpack−0.347%7-day average −0.244% · you buy dearer than you sell

Net, funding: paid 7d − costs−$246as in the Funding arb table

Net, price: spread back to 7d avg − costs−$253as in the Price arb table

costs, in and out, $10k−$2432.427% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.145%+$15 · spread now −0.347%, 7d avg −0.244%

Together, before fees+0.115%+$11 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: HTX is 0.103% cheaper against Backpack than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.244%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2936	0.0100	pay 0.0013% / 1h	50m 54s	$971K	$233K	10x
Short	HTX JUP-USDT	0.2926	0.0100	get 0.0050% / 4h	1h 50m	$110K	$44K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.347%Rate

Funding earned: $0
Price spread: −0.347% → −0.244%: −$10.3
Slippage, 4 orders: −$220.7
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$253
Costs to cover: 2.427%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; HTX: live order book, 55 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, 58 min ago	1.52 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 55 min ago	6.80 bp	116.7 bp −$117	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	−0.5000%	1h	0.2911	−0.858%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2935	−0.029%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2930	−0.222%	$279K	$143K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2934	−0.071%	$39K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2935	−0.041%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2934	−0.066%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2933	−0.108%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2937	+0.037%	$761K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2931	−0.192%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2933	−0.109%	$575K	$494K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2938	+0.068%	$18.1M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2935	−0.031%	$107K	$282K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2935	−0.031%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2933	−0.109%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2936	−0.007%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	−0.075%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2932	−0.143%	$711K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2934	−0.075%	$6.8M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	−0.075%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2935	−0.041%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2933	−0.109%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2936	long leg	$971K	$233K	10x
Variational Omni JUP	+0.0100%	4h	0.2932	−0.142%	$711K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2936	−0.006%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2935	−0.041%	$162K	$256K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2936	−0.007%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2934	−0.075%	$33K	$29K	10x	as long as short
HTX JUP-USDTshort	+0.0100%	4h	0.2926	−0.347%	$110K	$44K	20x
Aevo JUP-PERP	+0.0104%	1h	0.2933	−0.120%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0112%	1h	0.2931	−0.170%	$26K	$8K	5x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2934	−0.068%	$2.2M	$570K	25x	as long as short
Phoenix JUP	+0.0244%	1h	0.2936	−0.014%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2936	−0.007%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2935	−0.041%	$831K	$379K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0375%	1h	0.2936	−0.007%	$579K	$462K	20x	as long as short
Phemex JUPUSDT	+0.0568%	4h	0.2939	+0.095%	$2.9M	$3.1M	50x	as long as short