Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h +0.075%

Price spread now: Kraken Futures against Binance+0.114%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.705%+$71 on $10k

Price spread, last 3 days (all we have)+0.184%+$18 · spread now +0.114%, 7d avg +0.101%

Together, before fees+0.890%+$89 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.101%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.705%, 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	0.2963	0.0100	pay 0.0050% / 4h	2h 47m	$16.4M	$56.5M	75x
Short	Kraken Futures PF_JUPUSD	0.2966	0.0009	get 0.0001% / 1h	47m 50s	$602K	$624K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.114%Rate

Funding earned: −$19.19
Price spread: +0.114% → +0.101%: $1.31
Slippage, 4 orders: −$44.41
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$82.29
Costs to cover: 0.644%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Kraken Futures: live order book, 40 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, 9 min ago	1.68 bp	12.1 bp −$12	29.7 bp −$297	294.4 bp −$29.4K	doesn't fit
Sell Kraken Futures live order book, 40 min ago	6.68 bp	22.3 bp −$22	79.5 bp −$795	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	0.2934	−0.972%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0725% / S +0.0251%	1h	0.2965	+0.059%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0435%	4h	0.2960	−0.094%	$16.2M	$24.1M	50x	as long as short
Backpack JUP_USDC_PERP	−0.0090%	1h	0.2964	+0.051%	$983K	$270K	10x	as long as short
Gate JUP_USDT	−0.0040%	4h	0.2960	−0.094%	$738K	$1.9M	75x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2966	+0.111%	$26K	$19K	5x	as long as short
Phoenix JUP	0.0000%	1h	0.2966	+0.101%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2966	+0.098%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2965	+0.071%	$17K	—	150x	as long as short
dYdX JUP-USD	+0.0005%	1h	0.2961	−0.061%	$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
Kraken Futures PF_JUPUSDshort	+0.0009%	1h	0.2966	+0.114%	$602K	$624K	20x
Reya JUPRUSDPERP	+0.0057%	1h	0.2961	−0.049%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2964	+0.046%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2967	+0.128%	$901K	$1.2M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2965	+0.074%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2962	−0.027%	$597K	$672K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2966	+0.124%	$19.0M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2964	+0.045%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2963	+0.015%	$282K	$185K	10x	as long as short
Binance JUPUSDTlong	+0.0100%	4h	0.2963	long leg	$16.4M	$56.5M	75x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2961	−0.061%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	+0.063%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2963	+0.007%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2963	+0.007%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	−0.061%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	−0.061%	—	$21.6M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2960	−0.111%	$724K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2964	+0.040%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2964	+0.041%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	+0.260%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2955	−0.263%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.176%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2962	−0.044%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0143%	4h	0.2958	−0.162%	$864K	$330K	50x	as long as short
Extended JUP-USD	+0.0224%	1h	0.2960	−0.078%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.841%	$74K	$95K	50x	as long as short