Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h +0.032%

Price spread now: Kraken Futures against BingX+0.160%7-day average +0.121% · 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−$55as in the Price arb table

costs, in and out, $10k−$590.587% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.646%+$65 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now +0.160%, 7d avg +0.121%

Together, before fees+0.686%+$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.039% dearer against BingX than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.121%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 25 hours. Mind the row above: over the last 7 days funding on this pair paid +0.646%, 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	BingX JUP-USDT	0.2952	0.0100	pay 0.0050% / 4h	2h 07m	—	$20.8M	—
Short	Kraken Futures PF_JUPUSD	0.2957	−0.0024	pay 0.0003% / 1h	7m 20s	$590K	$505K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$25.99
Price spread: +0.160% → +0.121%: $3.9
Slippage, 4 orders: −$38.67
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$80.76
Costs to cover: 0.587%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; Kraken Futures: live order book, 61 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, 1 min ago	1.69 bp	6.7 bp −$7	8.4 bp −$84	23.4 bp −$2,340	137.9 bp −$68.9K
Sell Kraken Futures live order book, 61 min ago	11.62 bp	25.2 bp −$25	98.4 bp −$984	doesn't fit	doesn't fit

JUP on 35 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	−0.4347%	1h	0.2917	−1.186%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2956	+0.131%	$282K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2955	+0.090%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0111%	4h	0.2952	+0.003%	$15.8M	$19.7M	50x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0024%	1h	0.2957	+0.160%	$590K	$505K	20x
OKX JUP-USDT-SWAP	−0.0005%	4h	0.2954	+0.068%	$4.1M	$13.1M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2955	+0.112%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2954	+0.079%	—	—	150x	as long as short
Variational Omni JUP	+0.0026%	4h	0.2953	+0.033%	$721K	$750K	—	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	+0.060%	—	—	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0064%	4h	0.2955	+0.102%	$736K	$1.5M	75x	as long as short
dYdX JUP-USD	+0.0068%	1h	0.2952	+0.014%	$39K	$28K	5x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2953	+0.038%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	+0.190%	$782K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	+0.017%	$597K	$524K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2957	+0.185%	$18.8M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2955	+0.086%	$114K	$317K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2954	+0.083%	$16.3M	$44.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2956	+0.136%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2954	+0.068%	$7.3M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2954	+0.068%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	+0.102%	$5.8M	$6.2M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2952	long leg	—	$20.8M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2956	+0.139%	$979K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2950	−0.076%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	−0.068%	$157K	$285K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2957	+0.180%	$93K	$109K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	+0.102%	$31K	$43K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2949	−0.102%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2957	+0.169%	$2.9M	$3.5M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	+0.068%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2957	+0.169%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2954	+0.071%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2959	+0.237%	$74K	$50K	50x	as long as short
Extended JUP-USD	+0.0448%	1h	0.2954	+0.053%	$2.2M	$489K	25x	as long as short