Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Hyperliquid against Binance+0.154%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

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

costs, in and out, $10k−$440.444% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.116%−$12 · spread now +0.154%, 7d avg +0.082%

Together, before fees−0.053%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 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: Hyperliquid is 0.072% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance JUPUSDT	0.2965	0.0100	pay 0.0050% / 4h	2h 42m	$16.5M	$56.4M	75x
Short	Hyperliquid JUP	0.2970	0.0100	get 0.0013% / 1h	42m 35s	$19.0M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.154%Rate

Funding earned: $0
Price spread: +0.154% → +0.082%: $7.21
Slippage, 4 orders: −$25.44
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$37.23
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Hyperliquid: live order book, 10 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, 15 min ago	1.68 bp	12.1 bp −$12	29.7 bp −$297	294.4 bp −$29.4K	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.18 bp	8.6 bp −$9	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	−0.5000%	1h	0.2929	−1.222%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0742% / S +0.0256%	1h	0.2965	−0.005%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0348%	4h	0.2962	−0.109%	$16.2M	$24.1M	50x	as long as short
Gate JUP_USDT	−0.0018%	4h	0.2961	−0.143%	$738K	$1.9M	75x	as long as short
Backpack JUP_USDC_PERP	−0.0010%	1h	0.2966	+0.036%	$984K	$270K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2964	−0.048%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2967	+0.067%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2966	+0.015%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2966	+0.040%	$602K	$623K	20x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2965	−0.012%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0047%	4h	0.2960	−0.176%	$866K	$330K	50x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2968	+0.080%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2962	−0.112%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2964	−0.030%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2968	+0.104%	$896K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0098%	4h	0.2958	−0.243%	$724K	$1.2M	—	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2967	+0.060%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2963	−0.075%	$598K	$668K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2970	+0.154%	$19.0M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2965	−0.007%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2965	+0.008%	$283K	$185K	10x	as long as short
Binance JUPUSDTlong	+0.0100%	4h	0.2965	long leg	$16.5M	$56.4M	75x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2962	−0.109%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	−0.019%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2965	−0.008%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2967	+0.060%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2964	−0.041%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2963	−0.075%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	−0.143%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2961	−0.143%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2968	+0.100%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2956	−0.311%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.094%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2963	−0.080%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.758%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2962	−0.102%	$2.2M	$539K	25x	as long as short