Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h +0.010%

Price spread now: Lighter against BloFin+0.291%60s7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.434% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.285%−$28 on $10k

Price spread, last 3 days (all we have)−0.262%−$26 · spread now +0.291%, 7d avg +0.089%

Together, before fees−0.547%+ Points / potential airdropLighter: Season 3 · farm board−$55 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.202% dearer against BloFin than usual: you sell high and buy low (spread +0.291% now, against its 7-day average of +0.089%): +$20 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days. At the pace of the last 7 days (−0.285% in total) that is about 5.0 days. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin JUP-USDT	0.2958	0.0143	pay 0.0071% / 4h	2h 47m	$864K	$330K	50x
Short	Lighter JUP	0.2967	0.0096	get 0.0012% / 1h	47m 48s	$901K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.291%Rate

Funding earned: −$9.85
Price spread: +0.291% → +0.089%: $20.15
Slippage, 4 orders: −$31.36
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$33.06
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from BloFin: live order book, 39 min ago; Lighter: live order book, 3 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 BloFin live order book, 39 min ago	1.67 bp	16.7 bp −$17	20.8 bp −$208	110.8 bp −$11.1K	doesn't fit
Sell Lighter live order book, 3 min ago	2.02 bp	5.1 bp −$5	49.8 bp −$498	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 PERP	−0.5000%	1h	0.2934	−0.811%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0725% / S +0.0251%	1h	0.2965	+0.221%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0435%	4h	0.2960	+0.068%	$16.2M	$24.1M	50x	as long as short
Backpack JUP_USDC_PERP	−0.0090%	1h	0.2964	+0.213%	$983K	$270K	10x	as long as short
Gate JUP_USDT	−0.0040%	4h	0.2960	+0.068%	$738K	$1.9M	75x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2966	+0.274%	$26K	$19K	5x	as long as short
Phoenix JUP	0.0000%	1h	0.2966	+0.264%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2966	+0.260%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2965	+0.234%	$17K	—	150x	as long as short
dYdX JUP-USD	+0.0005%	1h	0.2961	+0.101%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2966	+0.276%	$602K	$624K	20x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2961	+0.113%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2964	+0.209%	$9K	$15K	10x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2967	+0.291%	$901K	$1.2M	10x
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2965	+0.237%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2962	+0.135%	$597K	$672K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2966	+0.287%	$19.0M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2964	+0.207%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2963	+0.177%	$282K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2963	+0.162%	$16.4M	$56.5M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2961	+0.101%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	+0.226%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2963	+0.169%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2963	+0.169%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	+0.101%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	+0.101%	—	$21.6M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2960	+0.051%	$724K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2964	+0.202%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2964	+0.203%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	+0.423%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2955	−0.101%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.338%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2962	+0.118%	$40K	—	3x	as long as short
BloFin JUP-USDTlong	+0.0143%	4h	0.2958	long leg	$864K	$330K	50x
Extended JUP-USD	+0.0224%	1h	0.2960	+0.084%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+1.004%	$74K	$95K	50x	as long as short