JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.027%

Price spread now: Phoenix against Backpack+0.171%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on Backpack Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 3 days (all we have)+0.488%+$49 · spread now +0.171%, 7d avg +0.094%

Together, before fees+0.469%+$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.078% dearer against Backpack than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of +0.094%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−0.019% in total) that is about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2977	0.0100	pay 0.0013% / 1h	19m 08s	$986K	$265K	10x
Short	Phoenix JUP	0.2982	0	get 0.0000% / 1h	19m 08s	$95K	$447K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.171%Rate

Funding earned: −$21
Price spread: +0.171% → +0.094%: $7.76
Slippage, 4 orders: −$29.39
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$59.63
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; Phoenix: live order book, 3 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, 5 min ago	0.17 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 3 min ago	2.51 bp	14.3 bp −$14	29.8 bp −$298	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	0.2978	+0.040%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0861% / S +0.0323%	1h	0.2976	−0.012%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0077%	4h	0.2974	−0.097%	$16.3M	$24.1M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2977	−0.007%	$56K	$14K	10x	as long as short
Phoenix JUPshort	0.0000%	1h	0.2982	+0.171%	$95K	$447K	10x
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2978	+0.029%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2977	+0.023%	$604K	$624K	20x	as long as short
Gate JUP_USDT	+0.0022%	4h	0.2974	−0.094%	$740K	$1.9M	75x	as long as short
dYdX JUP-USD	+0.0030%	1h	0.2980	+0.102%	$39K	$36K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2975	−0.064%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0064%	1h	0.2977	+0.013%	$26K	$19K	5x	as long as short
BloFin JUP-USDT	+0.0082%	4h	0.2979	+0.074%	$858K	$335K	50x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2975	−0.047%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2979	+0.067%	$869K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2978	+0.040%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.060%	$599K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2980	+0.104%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2979	+0.088%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2976	−0.019%	$284K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2976	−0.027%	$16.5M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2975	−0.060%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2975	−0.060%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2979	+0.074%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2977	+0.007%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2975	−0.060%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2977	long leg	$986K	$265K	10x
Variational Omni JUP	+0.0100%	4h	0.2979	+0.085%	$729K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2982	+0.188%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2979	+0.074%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.212%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2970	−0.228%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2982	+0.175%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.175%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2975	−0.061%	$41K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.427%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0264%	1h	0.2975	−0.070%	$2.2M	$539K	25x	as long as short