Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0424%/8h= −46.4% APRpaid last 24h −0.039%

Price spread now: Deribit against Bybit+0.061%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.061% dearer against Bybit than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.208% in total) that is about 47 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.208% in total (about -11.3% 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	Bybit JUPUSDT	0.2943	−0.0005	get 0.0003% / 4h	2h 55m	$15.9M	$20.7M	50x
Short	Deribit JUP_USDC-PERPETUAL	0.2945	−0.0429	pay 0.0054% / 1h	55m 52s	$54K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$88.96
Price spread: +0.061% → 0.000%: $6.12
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$100.85
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Deribit: 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 Bybit live order book, 3 min ago	3.37 bp	12.6 bp −$13	37.4 bp −$374	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.4347%	1h	0.2943	0.000%	$3K	$206K	5.5x	as long as short
Backpack JUP_USDC_PERP	−0.0566%	1h	0.2943	+0.007%	$975K	$234K	10x	as long as short
Deribit JUP_USDC-PERPETUALshort	−0.0429%	1h	0.2945	+0.061%	$54K	$16K	10x
Pacifica JUP	−0.0353%	1h	0.2952	+0.319%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2946	+0.090%	$16K	—	100x	as long as short
01 Exchange JUPUSD	−0.0168%	1h	0.2944	+0.048%	$26K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0080%	4h	0.2946	+0.102%	$4.0M	$15.0M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2947	+0.127%	$592K	$523K	20x	as long as short
Bybit JUPUSDTlong	−0.0005%	4h	0.2943	long leg	$15.9M	$20.7M	50x
dYdX JUP-USD	0.0000%	1h	0.2949	+0.221%	$39K	$31K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2946	+0.111%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2943	+0.001%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0081%	8h	0.2956	+0.432%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2948	+0.180%	$780K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2946	+0.102%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2943	+0.008%	$605K	$633K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2948	+0.156%	$18.9M	$11.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2946	+0.102%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2947	+0.137%	$16.2M	$47.7M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	+0.951%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2943	0.000%	$728K	$1.5M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2949	+0.204%	$7.5M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2948	+0.170%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2947	+0.136%	$5.7M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2945	+0.068%	—	$20.8M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2938	−0.168%	$713K	$768K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2978	+1.201%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2977	+1.155%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2951	+0.262%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2941	−0.068%	$111K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2947	+0.121%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2940	−0.085%	$40K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.2982	+1.308%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2962	+0.639%	$74K	$59K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2960	+0.578%	$849K	$365K	50x	as long as short
Phemex JUPUSDT	+0.0652%	4h	0.2949	+0.204%	$2.9M	$3.6M	50x	as long as short