Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: MEXC against Backpack+0.020%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.020%, 7d avg −0.027%

Together, before fees−0.108%−$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: MEXC is 0.048% dearer against Backpack than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2959	0.0100	pay 0.0013% / 1h	31m 40s	$981K	$237K	10x
Short	MEXC JUP_USDT	0.2960	0.0100	get 0.0050% / 4h	31m 40s	$7.3M	$6.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.027%: $4.75
Slippage, 4 orders: −$16.71
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$21.95
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Backpack: live order book, 27 min ago; MEXC: 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, 27 min ago	1.35 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.69 bp	4.3 bp −$4	14.1 bp −$141	106.1 bp −$10.6K	256.2 bp −$128.1K

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	−0.4661%	1h	0.2901	−1.973%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2956	−0.125%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2961	+0.042%	$282K	$147K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	−0.140%	—	—	150x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2960	+0.036%	$39K	$25K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2955	−0.149%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2961	+0.045%	$592K	$482K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2963	+0.115%	$783K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2962	+0.073%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2943	−0.537%	$592K	$497K	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	0.2963	+0.105%	$18.8M	$9.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2959	−0.021%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2945	−0.487%	$16.2M	$41.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2940	−0.642%	$15.8M	$18.5M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2943	−0.554%	$4.0M	$11.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.791%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2959	−0.014%	$730K	$1.4M	75x	as long as short
MEXC JUP_USDTshort	+0.0100%	4h	0.2960	+0.020%	$7.3M	$6.4M	200x
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+0.054%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	+0.054%	$5.8M	$5.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2960	+0.020%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2959	long leg	$981K	$237K	10x
Variational Omni JUP	+0.0100%	4h	0.2927	−1.095%	$715K	$659K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2938	−0.716%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2944	−0.520%	$156K	$253K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	−0.017%	$94K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2956	−0.115%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.250%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.054%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.166%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2946	−0.439%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2942	−0.605%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2942	−0.591%	$97K	$304K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0325%	1h	0.2958	−0.057%	$54K	$16K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2944	−0.520%	$837K	$383K	50x	as long as short
Extended JUP-USD	+0.0440%	1h	0.2961	+0.044%	$2.2M	$502K	25x	as long as short