Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.006%

Price spread now: OKX against Backpack−0.061%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Backpack Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now −0.061%, 7d avg −0.065%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.065%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.117%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2964	0.0080	pay 0.0010% / 1h	1m 39s	$981K	$252K	10x
Short	OKX JUP-USDT-SWAP	0.2962	0.0100	get 0.0050% / 4h	1h 01m	$4.0M	$16.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.061%Rate

Funding earned: $4.23
Price spread: −0.061% → −0.065%: $0.45
Slippage, 4 orders: −$27.88
Fee Backpack: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$43.2
Costs to cover: 0.479%
Break-even: 78.5 days

Slippage from Backpack: live order book, 17 min ago; OKX: live order book, 2 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	0.84 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.38 bp	15.8 bp −$16	59.6 bp −$596	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	0.2923	−1.377%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2964	+0.009%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2965	+0.027%	$282K	$169K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0175%	1h	0.2964	+0.001%	$601K	$618K	20x	as long as short
01 Exchange JUPUSD	−0.0016%	1h	0.2964	+0.013%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2963	−0.017%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2964	+0.021%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0020%	4h	0.2965	+0.040%	$747K	$1.9M	75x	as long as short
Bybit JUPUSDT	+0.0056%	4h	0.2963	−0.027%	$16.2M	$23.1M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2961	−0.108%	—	—	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	+0.0078%	8h	0.2964	+0.017%	$9K	$13K	10x	as long as short
Backpack JUP_USDC_PERPlong	+0.0080%	1h	0.2964	long leg	$981K	$252K	10x
BloFin JUP-USDT	+0.0088%	4h	0.2958	−0.196%	$842K	$327K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2967	+0.115%	$795K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2960	−0.111%	$612K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2971	+0.233%	$19.1M	$13.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2966	+0.077%	$107K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2965	+0.024%	$16.3M	$54.1M	75x	as long as short
OKX JUP-USDT-SWAPshort	+0.0100%	4h	0.2962	−0.061%	$4.0M	$16.5M	50x
Bulk JUP-USD	+0.0100%	1h	0.2953	−0.364%	$57K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2965	+0.040%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2967	+0.108%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2964	+0.007%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2965	+0.040%	—	$20.9M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2956	−0.260%	$714K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2962	−0.071%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2958	−0.196%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2968	+0.142%	$93K	$130K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2964	+0.007%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2955	−0.297%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2967	+0.108%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2964	+0.010%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0119%	1h	0.2965	+0.026%	$39K	$35K	5x	as long as short
Phoenix JUP	+0.0190%	1h	0.2962	−0.078%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2964	+0.021%	$2.2M	$505K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2964	+0.007%	$74K	$94K	50x	as long as short