Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0718%/8h= −78.7% APRpaid last 24h −0.100%

Price spread now: GMX against Bitget−0.145%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and GMX is 0.145% cheaper against Bitget than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget JUPUSDT	0.2960	0.0100	pay 0.0050% / 4h	31m 41s	$5.8M	$5.7M	75x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2956	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	31m 41s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$150.85
Price spread: −0.145% → 0.000%: −$14.53
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$189.37
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; GMX: no order-book sample. 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 Bitget live order book, 1 min ago	3.39 bp	13.1 bp −$13	20.3 bp −$203	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4661%	1h	0.2901	−1.993%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0275% / S +0.0618%	1h	0.2956	−0.145%	$16K	—	100x
Pacifica JUP	−0.0125%	1h	0.2952	−0.258%	$281K	$147K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	−0.160%	—	—	150x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2960	+0.016%	$39K	$25K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2955	−0.169%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2961	+0.024%	$592K	$482K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2963	+0.095%	$783K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2953	−0.238%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	−0.228%	$594K	$497K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2963	+0.084%	$18.8M	$9.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2958	−0.074%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2961	+0.034%	$16.3M	$41.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2958	−0.061%	$15.9M	$18.5M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2961	+0.034%	$4.0M	$11.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.811%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2956	−0.135%	$729K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	−0.034%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2957	−0.101%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDTlong	+0.0100%	4h	0.2960	long leg	$5.8M	$5.7M	75x
BingX JUP-USDT	+0.0100%	4h	0.2958	−0.068%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2959	−0.020%	$981K	$237K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2927	−1.115%	$715K	$659K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2938	−0.736%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2938	−0.743%	$156K	$253K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	−0.037%	$94K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2956	−0.135%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.270%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.034%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.186%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0152%	1h	0.2958	−0.074%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2942	−0.625%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2942	−0.611%	$97K	$304K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0325%	1h	0.2958	−0.078%	$54K	$16K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2944	−0.541%	$837K	$383K	50x	as long as short
Extended JUP-USD	+0.0440%	1h	0.2958	−0.052%	$2.2M	$502K	25x	as long as short