Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Nado against Backpack−0.071%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.374%+$37 · spread now −0.071%, 7d avg −0.045%

Together, before fees+0.383%+ Points / potential airdropNado: Active · farm board+$38 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: Nado is 0.026% cheaper against Backpack than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.045%.

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	39m 23s	$979K	$260K	10x
Short	Nado JUP-PERP	0.2956	0.0100	get 0.0012% / 1h	39m 23s	$613K	$673K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.045%: −$2.61
Slippage, 4 orders: −$18.38
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$37.99
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from Backpack: live order book, 45 min ago; Nado: live order book, 44 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, 45 min ago	0.17 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 44 min ago	1.34 bp	8.2 bp −$8	33.5 bp −$335	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	−0.3508%	1h	0.2918	−1.372%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0539% / S +0.0373%	1h	0.2957	−0.044%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2958	−0.007%	$282K	$172K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0257%	1h	0.2956	−0.091%	$56K	$14K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2957	−0.060%	$599K	$619K	20x	as long as short
01 Exchange JUPUSD	−0.0088%	1h	0.2959	+0.020%	$26K	$19K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2959	−0.001%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0008%	4h	0.2956	−0.088%	$736K	$1.9M	75x	as long as short
Bybit JUPUSDT	+0.0056%	4h	0.2954	−0.155%	$16.2M	$23.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.065%	—	—	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	+0.0067%	8h	0.2958	−0.020%	$9K	$15K	10x	as long as short
dYdX JUP-USD	+0.0071%	1h	0.2962	+0.112%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	−0.027%	$793K	$1.3M	10x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.2956	−0.071%	$613K	$673K	10x
Hyperliquid JUP	+0.0100%	1h	0.2963	+0.145%	$19.0M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2958	−0.018%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.102%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2956	−0.088%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	−0.054%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+0.081%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2958	−0.020%	$5.7M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2958	−0.020%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2959	long leg	$979K	$260K	10x
Variational Omni JUP	+0.0100%	4h	0.2955	−0.116%	$714K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	−0.055%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	+0.014%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.135%	$93K	$136K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.054%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2951	−0.257%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2959	+0.014%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.054%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2953	−0.198%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	−0.110%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0160%	4h	0.2954	−0.155%	$848K	$328K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.044%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.044%	$74K	$94K	50x	as long as short