Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0025%/8h= −2.7% APRnext payment −$0.03 per $10,000 · paid last 24h —

Price spread now: Reya against Backpack−0.117%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.117% cheaper against Backpack than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2969	0.0081	pay 0.0010% / 1h	0m 30s	$982K	$252K	10x
Short	Reya JUPRUSDPERP	0.2965	0.0057	get 0.0007% / 1h	0m 30s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.117%Rate

Funding earned: −$5.18
Price spread: −0.117% → 0.000%: −$11.67
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$32.85
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 18 min ago; Reya: no order-book sample. Net counts fees only.

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, 18 min ago	0.84 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.543%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2966	−0.099%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2968	−0.040%	$283K	$169K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0175%	1h	0.2965	−0.117%	$601K	$618K	20x	as long as short
01 Exchange JUPUSD	−0.0016%	1h	0.2969	+0.017%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2966	−0.091%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2965	−0.111%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0032%	4h	0.2966	−0.094%	$748K	$1.9M	75x	as long as short
BloFin JUP-USDT	+0.0042%	4h	0.2968	−0.027%	$845K	$328K	50x	as long as short
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2965	−0.117%	—	—	20x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDT	+0.0067%	4h	0.2965	−0.128%	$16.2M	$23.1M	50x	as long as short
Paradex JUP-USD-PERP	+0.0078%	8h	0.2967	−0.056%	$9K	$13K	10x	as long as short
Backpack JUP_USDC_PERPlong	+0.0081%	1h	0.2969	long leg	$982K	$252K	10x
Lighter JUP	+0.0096%	1h	0.2971	+0.061%	$796K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2966	−0.103%	$613K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2972	+0.108%	$19.1M	$13.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2968	−0.028%	$107K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2967	−0.059%	$16.4M	$54.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2964	−0.162%	$4.0M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2967	−0.061%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2969	+0.007%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2967	−0.061%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2965	−0.128%	—	$20.9M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2956	−0.428%	$714K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2962	−0.239%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2960	−0.296%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2973	+0.141%	$94K	$130K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2966	−0.094%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.364%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2969	+0.007%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.094%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2964	−0.176%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0120%	1h	0.2969	−0.008%	$39K	$35K	5x	as long as short
Phoenix JUP	+0.0190%	1h	0.2962	−0.246%	$96K	$441K	10x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2965	−0.122%	$2.2M	$505K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2964	−0.162%	$74K	$94K	50x	as long as short