Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.005%

Price spread now: Lighter against Bybit+0.185%7-day average +0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.209%−$21 · spread now +0.185%, 7d avg +0.113%

Together, before fees−0.157%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.072% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JUPUSDT	0.2969	0.0067	pay 0.0034% / 4h	58m 34s	$16.3M	$23.1M	50x
Short	Lighter JUP	0.2974	0.0096	get 0.0012% / 1h	58m 34s	$797K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.185%Rate

Funding earned: $6.06
Price spread: +0.185% → +0.113%: $7.23
Slippage, 4 orders: −$39.93
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.64
Costs to cover: 0.509%
Break-even: 50.4 days

Slippage from Bybit: live order book, 5 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 Bybit live order book, 5 min ago	1.69 bp	14.0 bp −$14	42.2 bp −$422	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.69 bp	7.5 bp −$7	50.8 bp −$508	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	−0.4371%	1h	0.2935	−1.129%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2969	+0.013%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2970	+0.035%	$602K	$618K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2971	+0.095%	$283K	$169K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2969	+0.024%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2969	+0.017%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0038%	4h	0.2970	+0.051%	$749K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2970	+0.044%	—	—	20x	as long as short
Bybit JUPUSDTlong	+0.0067%	4h	0.2969	long leg	$16.3M	$23.1M	50x
Paradex JUP-USD-PERP	+0.0079%	8h	0.2971	+0.083%	$9K	$13K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0080%	4h	0.2971	+0.084%	$846K	$328K	50x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2974	+0.185%	$797K	$1.3M	10x
Nado JUP-PERP	+0.0100%	1h	0.2969	+0.034%	$613K	$669K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2972	+0.116%	$107K	$356K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2971	+0.084%	$16.4M	$54.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2970	+0.051%	$4.0M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2971	+0.084%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2973	+0.152%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	+0.084%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2970	+0.051%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	+0.101%	$983K	$252K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2961	−0.249%	$715K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2966	−0.084%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2960	−0.286%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2977	+0.296%	$94K	$130K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2969	+0.017%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2962	−0.219%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2972	+0.118%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.084%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2968	−0.027%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2974	+0.185%	$26K	$19K	5x	as long as short
Hyperliquid JUP	+0.0166%	1h	0.2978	+0.307%	$19.1M	$13.3M	10x	as long as short
Phoenix JUP	+0.0190%	1h	0.2969	+0.017%	$96K	$440K	10x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2969	+0.031%	$2.2M	$505K	25x	as long as short
dYdX JUP-USD	+0.0219%	1h	0.2973	+0.137%	$39K	$35K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2972	+0.128%	$74K	$94K	50x	as long as short