Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.4599%/8h= −503.6% APRpaid last 24h −0.917%

Price spread now: Injective against BingX−1.392%7-day average −1.963% · you buy dearer than you sell

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.734%−$273 on $10k

Price spread, last 4 days (all we have)+0.697%+$70 · spread now −1.392%, 7d avg −1.963%

Together, before fees−2.038%−$204 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.571% dearer against BingX than usual: you sell high and buy low (spread −1.392% now, against its 7-day average of −1.963%): +$57 on $10k if it goes back. Holding the pair costs −$138 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−2.734% in total) that is about 35 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.734% in total (about -142.6% 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	BingX JUP-USDT	0.2946	0.0100	pay 0.0050% / 4h	2h 00m	—	$20.6M	—
Short	Injective JUP/USDC PERP	0.2905	−0.4499	pay 0.0562% / 1h	0m 31s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now −1.392%Rate

Funding earned: −$965.8
Price spread: −1.392% → −1.963%: $57.11
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$918.71
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 8 min ago; Injective: live order book, 48 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 BingX live order book, 8 min ago	1.70 bp	6.9 bp −$7	12.4 bp −$124	28.2 bp −$2,822	173.7 bp −$86.9K
Sell Injective live order book, 48 min ago	67.91 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	−0.4499%	1h	0.2905	−1.392%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2953	+0.225%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2949	+0.090%	$281K	$143K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2952	+0.206%	—	—	150x	as long as short
dYdX JUP-USD	+0.0010%	1h	0.2948	+0.068%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2946	0.000%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2953	+0.224%	$766K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2949	+0.117%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2948	+0.085%	$580K	$494K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2950	+0.126%	$18.2M	$9.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JUPUSDT	+0.0100%	4h	0.2949	+0.102%	$107K	$283K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2948	+0.073%	$16.2M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2946	0.000%	$16.0M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2947	+0.034%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	+0.228%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2950	+0.136%	$723K	$1.5M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2948	+0.068%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2950	+0.136%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2949	+0.102%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2946	long leg	—	$20.6M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2953	+0.231%	$979K	$215K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2949	+0.100%	$715K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2952	+0.212%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2953	+0.238%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	+0.126%	$93K	$103K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	+0.238%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.034%	$111K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2951	+0.170%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2950	+0.126%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2947	+0.037%	$2.2M	$570K	25x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0224%	1h	0.2954	+0.258%	$53K	$17K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0256%	1h	0.2954	+0.256%	$583K	$462K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2951	+0.166%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2953	+0.238%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2948	+0.068%	$825K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0586%	4h	0.2957	+0.373%	$2.9M	$3.1M	50x	as long as short