JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0201%/8h= −22.0% APRnext payment −$0.25 per $10,000 · paid last 24h +0.056%

Price spread now: Kraken Futures against Backpack+0.051%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.608%+$61 on $10k

Price spread, last 3 days (all we have)+0.108%+$11 · spread now +0.051%, 7d avg +0.071%

Together, before fees+0.716%+$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.020% cheaper against Backpack than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.071%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.608%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.3005	0.0100	pay 0.0013% / 1h	20m 28s	$994K	$229K	10x
Short	Kraken Futures PF_JUPUSD	0.3006	−0.0101	pay 0.0013% / 1h	20m 28s	$605K	$526K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$42.14
Price spread: +0.051% → +0.071%: −$2.03
Slippage, 4 orders: −$39.01
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$103.18
Costs to cover: 0.590%
Break-even: never at this rate

Slippage from Backpack: live order book, 53 min ago; Kraken Futures: live order book, 53 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, 53 min ago	0.67 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 53 min ago	11.77 bp	24.3 bp −$24	93.5 bp −$935	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	−0.4634%	1h	0.2976	−0.952%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3005	+0.012%	$286K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3006	+0.034%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0101%	1h	0.3006	+0.051%	$605K	$526K	20x
Deribit JUP_USDC-PERPETUAL	−0.0083%	1h	0.3005	+0.007%	$55K	$16K	10x	as long as short
01 Exchange JUPUSD	−0.0064%	1h	0.3006	+0.060%	$27K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0013%	4h	0.3005	+0.013%	$4.1M	$15.8M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3005	+0.025%	$1K	—	150x	as long as short
dYdX JUP-USD	+0.0027%	1h	0.3005	+0.027%	$39K	$32K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3006	+0.031%	—	—	20x	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	0.3004	−0.018%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3007	+0.083%	$754K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3005	+0.013%	$31K	$45K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3003	−0.045%	$623K	$627K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3010	+0.190%	$19.3M	$11.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3007	+0.090%	$116K	$334K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3007	+0.080%	$16.6M	$49.1M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3004	−0.020%	$16.5M	$20.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3007	+0.087%	$63K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3006	+0.047%	$752K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3006	+0.047%	$7.9M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3007	+0.080%	$4.1M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3006	+0.047%	$5.9M	$6.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3004	−0.020%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.3005	long leg	$994K	$229K	10x
Variational Omni JUP	+0.0100%	4h	0.3002	−0.086%	$727K	$770K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3018	+0.446%	$1.7M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.3011	+0.213%	$160K	$309K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3011	+0.200%	$95K	$112K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2998	−0.220%	$113K	$54K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3010	+0.180%	$2.9M	$3.7M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.3005	+0.015%	$2.2M	$492K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3021	+0.540%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.3016	+0.369%	$98K	$469K	10x	as long as short
BloFin JUP-USDT	+0.0247%	4h	0.3005	+0.013%	$848K	$349K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3008	+0.110%	$75K	$60K	50x	as long as short