Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against Bulk−0.528%7-day average — · you buy dearer than you sell

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

Long on Bulk Short on Nado

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—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.528% cheaper against Bulk than usual: you would sell low and buy high, −$53 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk JUP-USD	0.2982	0.0100	pay 0.0013% / 1h	12m 53s	$58K	$4K	10x
Short	Nado JUP-PERP	0.2966	0.0100	get 0.0012% / 1h	12m 53s	$597K	$668K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bulk. 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 BulkbpFee NadobpOrdersPrice spread, now −0.528%Rate

Funding earned: $0
Price spread: −0.528% → 0.000%: −$52.82
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$66.82
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Bulk: no order-book sample; Nado: live order book, 10 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 Bulk no order-book sample	—	—	—	—	—
Sell Nado live order book, 10 min ago	1.34 bp	8.2 bp −$8	33.5 bp −$335	doesn't fit	doesn't fit

Bulk: 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	−0.5000%	1h	0.2978	−0.134%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0884% / S +0.0331%	1h	0.2965	−0.581%	$13K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0357%	1h	0.2963	−0.630%	$56K	$14K	10x	as long as short
Bybit JUPUSDT	−0.0136%	4h	0.2956	−0.885%	$16.2M	$24.1M	50x	as long as short
Gate JUP_USDT	0.0000%	4h	0.2957	−0.838%	$736K	$2.0M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2977	−0.184%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2966	−0.521%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2961	−0.702%	$600K	$624K	20x	as long as short
dYdX JUP-USD	+0.0026%	1h	0.2972	−0.341%	$39K	$36K	5x	as long as short
01 Exchange JUPUSD	+0.0032%	1h	0.2964	−0.587%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2962	−0.658%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0092%	8h	0.2968	−0.469%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2962	−0.677%	$844K	$1.3M	10x	as long as short
BloFin JUP-USDT	+0.0098%	4h	0.2969	−0.436%	$858K	$333K	50x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.2966	−0.528%	$597K	$668K	10x
Hyperliquid JUP	+0.0100%	1h	0.2963	−0.647%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2963	−0.633%	$106K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2971	−0.381%	$283K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.872%	$16.3M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2957	−0.838%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	−0.805%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	−0.704%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2959	−0.771%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2958	−0.805%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2959	−0.785%	$979K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2971	−0.357%	$727K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2979	−0.116%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2972	−0.335%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	−0.402%	$93K	$138K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2963	−0.637%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2964	−0.604%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2964	−0.604%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USDlong	+0.0100%	1h	0.2982	long leg	$58K	$4K	10x
Aevo JUP-PERP	+0.0104%	1h	0.2960	−0.728%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2956	−0.855%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.252%	$74K	$95K	50x	as long as short