Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h −0.012%

Price spread now: Backpack against Binance+0.064%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.405% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.064%, 7d avg +0.026%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.039% dearer against Binance than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.026%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours. Mind the row above: over the last 7 days funding on this pair paid +0.091%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance JUPUSDT	0.2956	0.0100	pay 0.0050% / 4h	2h 52m	$16.3M	$47.7M	75x
Short	Backpack JUP_USDC_PERP	0.2958	−0.0071	pay 0.0009% / 1h	52m 05s	$979K	$235K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$35.84
Price spread: +0.064% → +0.026%: $3.85
Slippage, 4 orders: −$20.54
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$72.52
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Backpack: live order book, 17 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 Binance live order book, 5 min ago	1.69 bp	13.4 bp −$13	38.3 bp −$383	333.2 bp −$33.3K	doesn't fit
Sell Backpack live order book, 17 min ago	1.66 bp	8.3 bp −$8	doesn't fit	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	−0.4347%	1h	0.2904	−1.766%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2954	−0.075%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2957	+0.039%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0182%	4h	0.2953	−0.098%	$15.9M	$20.7M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0088%	4h	0.2957	+0.027%	$4.0M	$15.0M	50x	as long as short
01 Exchange JUPUSD	−0.0072%	1h	0.2960	+0.115%	$26K	$19K	5x	as long as short
Backpack JUP_USDC_PERPshort	−0.0071%	1h	0.2958	+0.064%	$979K	$235K	10x
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2958	+0.067%	$595K	$524K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2954	−0.090%	$39K	$31K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	+0.013%	$54K	$16K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2957	+0.037%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2956	−0.022%	—	—	20x	as long as short
Gate JUP_USDT	+0.0066%	4h	0.2954	−0.075%	$743K	$1.5M	75x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2956	+0.010%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2959	+0.098%	$783K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2958	+0.061%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	+0.035%	$608K	$611K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	+0.078%	$18.9M	$11.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	+0.027%	$114K	$325K	10x	as long as short
Binance JUPUSDTlong	+0.0100%	4h	0.2956	long leg	$16.3M	$47.7M	75x
Bulk JUP-USD	+0.0100%	1h	0.2971	+0.501%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	+0.027%	$7.5M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	−0.041%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	+0.027%	$5.7M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2957	+0.027%	—	$20.8M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2938	−0.614%	$713K	$768K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2945	−0.369%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2964	+0.264%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.243%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.142%	$111K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2954	−0.083%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.091%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2941	−0.501%	$96K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2960	+0.125%	$74K	$58K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.176%	$854K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0537%	4h	0.2961	+0.162%	$2.9M	$3.6M	50x	as long as short