Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.4761%/8h= −521.3% APRpaid last 24h −0.733%

Price spread now: Injective against Binance−1.533%47s7-day average −2.053% · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.498%−$250 on $10k

Price spread, last 4 days (all we have)+0.749%+$75 · spread now −1.533%, 7d avg −2.053%

Together, before fees−1.749%−$175 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.520% dearer against Binance than usual: you sell high and buy low (spread −1.533% now, against its 7-day average of −2.053%): +$52 on $10k if it goes back. Holding the pair costs −$143 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−2.498% in total) that is about 35 hours. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.498% in total (about -130.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance JUPUSDT	0.2955	0.0100	pay 0.0050% / 4h	54m 32s	$16.3M	$42.4M	75x
Short	Injective JUP/USDC PERP	0.2910	−0.4661	pay 0.0583% / 1h	54m 32s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −1.533%Rate

Funding earned: −$999.8
Price spread: −1.533% → −2.053%: $52.05
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$957.77
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 min ago; Injective: live order book, 4 min ago. 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 Binance live order book, 2 min ago	1.69 bp	11.9 bp −$12	26.4 bp −$264	311.4 bp −$31.1K	doesn't fit
Sell Injective live order book, 4 min ago	101.69 bp	doesn't fit	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 PERPshort	−0.4661%	1h	0.2910	−1.533%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2961	+0.195%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2958	+0.083%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2961	+0.186%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2962	+0.222%	—	—	150x	as long as short
dYdX JUP-USD	+0.0003%	1h	0.2960	+0.176%	$39K	$26K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2959	+0.117%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2961	+0.180%	$592K	$489K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2961	+0.189%	$783K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2954	−0.061%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2954	−0.044%	$596K	$502K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	+0.186%	$18.8M	$9.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2962	+0.227%	$114K	$289K	10x	as long as short
Binance JUPUSDTlong	+0.0100%	4h	0.2955	long leg	$16.3M	$42.4M	75x
Bybit JUPUSDT	+0.0100%	4h	0.2955	−0.024%	$15.8M	$18.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2953	−0.078%	$4.0M	$12.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.058%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2959	+0.125%	$735K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	+0.125%	$7.4M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+0.193%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2956	+0.024%	$5.8M	$5.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	+0.024%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2962	+0.217%	$982K	$249K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2960	+0.159%	$722K	$693K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	+0.005%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2945	−0.349%	$156K	$265K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2962	+0.213%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2961	+0.193%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.112%	$111K	$49K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2964	+0.294%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2962	+0.211%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0184%	1h	0.2955	−0.024%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2964	+0.308%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2949	−0.223%	$98K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2961	+0.193%	$848K	$385K	50x	as long as short
Extended JUP-USD	+0.0432%	1h	0.2953	−0.084%	$2.2M	$502K	25x	as long as short