Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.4686%/8h= −513.1% APRpaid last 24h −0.593%

Price spread now: Injective against BloFin−1.465%7-day average −2.300% · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.713%−$271 on $10k

Price spread, last 3 days (all we have)+0.970%+$97 · spread now −1.465%, 7d avg −2.300%

Together, before fees−1.742%−$174 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.834% dearer against BloFin than usual: you sell high and buy low (spread −1.465% now, against its 7-day average of −2.300%): +$83 on $10k if it goes back. Holding the pair costs −$141 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−2.713% in total) that is about 2.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.713% in total (about -141.4% 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	BloFin JUP-USDT	0.3003	0.0052	pay 0.0026% / 4h	3h 41m	$851K	$318K	50x
Short	Injective JUP/USDC PERP	0.2959	−0.4634	pay 0.0579% / 1h	41m 50s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −1.465%Rate

Funding earned: −$984.06
Price spread: −1.465% → −2.300%: $83.43
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$912.65
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 30 min ago; Injective: live order book, 32 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 BloFin live order book, 30 min ago	5.06 bp	20.3 bp −$20	28.1 bp −$281	117.9 bp −$11.8K	doesn't fit
Sell Injective live order book, 32 min ago	104.27 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	−0.4634%	1h	0.2959	−1.465%	$3K	$206K	5.5x
Pacifica JUP	−0.0356%	1h	0.3003	+0.015%	$286K	$150K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3001	−0.056%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.3002	−0.044%	$604K	$542K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0083%	1h	0.3001	−0.067%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3002	−0.018%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0010%	4h	0.2990	−0.433%	$4.1M	$16.1M	50x	as long as short
01 Exchange JUPUSD	+0.0024%	1h	0.3004	+0.033%	$27K	$19K	5x	as long as short
dYdX JUP-USD	+0.0027%	1h	0.2995	−0.275%	$39K	$32K	5x	as long as short
BloFin JUP-USDTlong	+0.0052%	4h	0.3003	long leg	$851K	$318K	50x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2998	−0.165%	—	—	20x	as long as short
Variational Omni JUP	+0.0076%	4h	0.2985	−0.598%	$723K	$776K	—	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.3003	+0.003%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2995	−0.260%	$753K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3002	−0.033%	$31K	$47K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2998	−0.150%	$622K	$637K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3001	−0.050%	$19.3M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3001	−0.076%	$116K	$336K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2992	−0.366%	$16.5M	$50.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2991	−0.400%	$16.3M	$21.3M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2987	−0.528%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3000	−0.100%	$755K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2999	−0.133%	$8.0M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3000	−0.100%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3000	−0.100%	$5.9M	$7.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2998	−0.167%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3001	−0.077%	$993K	$232K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2989	−0.466%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2984	−0.633%	$159K	$312K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3006	+0.117%	$95K	$116K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2996	−0.233%	$113K	$57K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3007	+0.133%	$2.9M	$3.8M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2995	−0.254%	$2.2M	$492K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2999	−0.133%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.2989	−0.456%	$97K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3005	+0.077%	$75K	$89K	50x	as long as short