Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Phemex against BingX+0.204%7-day average +0.181% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$610.605% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.204%, 7d avg +0.181%

Together, before fees+0.011%+$1 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: Phemex is 0.023% dearer against BingX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.181%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2948	0.0100	pay 0.0050% / 4h	2h 09m	—	$20.8M	—
Short	Phemex JUPUSDT	0.2954	0.0100	get 0.0050% / 4h	2h 09m	$2.9M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → +0.181%: $2.26
Slippage, 4 orders: −$38.54
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$58.28
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; Phemex: live order book, 5 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, 14 min ago	1.69 bp	6.7 bp −$7	11.0 bp −$110	22.6 bp −$2,259	89.1 bp −$44.6K
Sell Phemex live order book, 5 min ago	8.45 bp	22.3 bp −$22	doesn't fit	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	−1.052%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2949	+0.019%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2949	+0.032%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0149%	4h	0.2946	−0.068%	$15.8M	$19.7M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0055%	1h	0.2949	+0.034%	$54K	$16K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2951	+0.085%	$589K	$506K	20x	as long as short
OKX JUP-USDT-SWAP	−0.0013%	4h	0.2948	0.000%	$4.0M	$13.3M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2950	+0.060%	—	—	150x	as long as short
Variational Omni JUP	+0.0026%	4h	0.2953	+0.169%	$721K	$750K	—	as long as short
Gate JUP_USDT	+0.0052%	4h	0.2949	+0.034%	$736K	$1.5M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.042%	—	—	20x	as long as short
dYdX JUP-USD	+0.0070%	1h	0.2949	+0.048%	$39K	$28K	5x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2948	+0.011%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2952	+0.122%	$780K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2946	−0.068%	$596K	$528K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2950	+0.072%	$18.7M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2950	+0.052%	$114K	$317K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2948	+0.005%	$16.2M	$44.8M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2956	+0.271%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2948	0.000%	$7.3M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2950	+0.068%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2949	+0.034%	$5.7M	$6.3M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2948	long leg	—	$20.8M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2952	+0.142%	$977K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2960	+0.407%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2955	+0.237%	$157K	$285K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	+0.064%	$93K	$109K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2949	+0.034%	$31K	$43K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2941	−0.237%	$111K	$48K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2954	+0.204%	$2.9M	$3.5M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2948	−0.017%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2948	−0.007%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2954	+0.207%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2954	+0.193%	$74K	$51K	50x	as long as short
Extended JUP-USD	+0.0456%	1h	0.2948	−0.017%	$2.2M	$487K	25x	as long as short