Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.029%

Price spread now: Hyperliquid against BingX+0.126%7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.126%, 7d avg +0.102%

Together, before fees−0.071%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 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 0.025% dearer against BingX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2933	0.0100	pay 0.0050% / 4h	1h 47m	—	$20.8M	—
Short	Hyperliquid JUP	0.2937	0.0100	get 0.0013% / 1h	47m 13s	$18.6M	$10.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.126%Rate

Funding earned: $0
Price spread: +0.126% → +0.102%: $2.45
Slippage, 4 orders: −$17.81
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$34.35
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Hyperliquid: live order book, 6 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 BingX live order book, 6 min ago	3.39 bp	8.4 bp −$8	12.4 bp −$124	28.5 bp −$2,854	167.5 bp −$83.7K
Sell Hyperliquid live order book, 6 min ago	0.85 bp	9.2 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	0.2904	−0.989%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2934	+0.037%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2935	+0.062%	$280K	$147K	10x	as long as short
Backpack JUP_USDC_PERP	−0.0105%	1h	0.2936	+0.106%	$974K	$231K	10x	as long as short
Bybit JUPUSDT	−0.0029%	4h	0.2930	−0.099%	$15.7M	$19.3M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2934	+0.038%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2934	+0.042%	—	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0008%	4h	0.2932	−0.034%	$4.0M	$12.5M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2933	0.000%	—	—	20x	as long as short
dYdX JUP-USD	+0.0070%	1h	0.2937	+0.130%	$38K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0094%	4h	0.2946	+0.441%	$719K	$698K	—	as long as short
Paradex JUP-USD-PERP	+0.0096%	8h	0.2934	+0.021%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2935	+0.065%	$776K	$1.1M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2933	+0.017%	$593K	$509K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2937	+0.126%	$18.6M	$10.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2935	+0.059%	$113K	$299K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2933	−0.002%	$16.2M	$43.5M	75x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2932	−0.034%	$728K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2934	+0.034%	$7.4M	$6.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	+0.034%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2933	0.000%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2933	long leg	—	$20.8M	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.614%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2936	+0.102%	$156K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2938	+0.174%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2934	+0.034%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2929	−0.136%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2935	+0.068%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2945	+0.399%	$61K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2933	−0.017%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2935	+0.072%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0202%	1h	0.2934	+0.020%	$586K	$497K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2934	+0.038%	$74K	$49K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2943	+0.338%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2931	−0.068%	—	$355K	50x	as long as short
Extended JUP-USD	+0.0368%	1h	0.2932	−0.034%	$2.2M	$490K	25x	as long as short