Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0455%/8h= +49.8% APRpaid last 24h 0.000%

Price spread now: Nado against Bybit−0.135%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.880%+$88 · spread now −0.135%, 7d avg +0.017%

Together, before fees+0.876%+ Points / potential airdropNado: Active · farm board+$88 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.151% cheaper against Bybit than usual: you would sell low and buy high (spread −0.135% now, against its 7-day average of +0.017%). If the spread goes back, that is −$15 on $10k: about 27 hours of funding at the current rate (+$14 a day).

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.004% in total (about -0.4% 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	Bybit JUPUSDT	0.2971	−0.0355	get 0.0177% / 4h	2h 56m	$16.3M	$24.2M	50x
Short	Nado JUP-PERP	0.2967	0.0100	get 0.0012% / 1h	56m 49s	$597K	$676K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.135%Rate

Funding earned: $95.45
Price spread: −0.135% → +0.017%: −$15.13
Slippage, 4 orders: −$24.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $38.08
Costs to cover: 0.422%
Break-even: 4.2 days

Slippage from Bybit: live order book, 2 min ago; Nado: live order book, 31 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, 2 min ago	1.68 bp	10.9 bp −$11	32.4 bp −$324	284.6 bp −$28.5K	doesn't fit
Sell Nado live order book, 31 min ago	2.51 bp	8.5 bp −$8	40.1 bp −$401	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	0.2941	−1.010%	$47K	$110K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0696% / S +0.0242%	1h	0.2972	+0.021%	$13K	—	100x	as long as short
Backpack JUP_USDC_PERP	−0.0411%	1h	0.2971	+0.013%	$985K	$274K	10x	as long as short
Bybit JUPUSDTlong	−0.0355%	4h	0.2971	long leg	$16.3M	$24.2M	50x
01 Exchange JUPUSD	−0.0256%	1h	0.2967	−0.131%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0053%	1h	0.2971	−0.013%	$57K	$13K	10x	as long as short
Gate JUP_USDT	−0.0014%	4h	0.2969	−0.067%	$741K	$1.9M	75x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2972	+0.034%	$39K	$38K	5x	as long as short
Phoenix JUP	0.0000%	1h	0.2974	+0.101%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2971	−0.009%	$17K	—	150x	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	0.2972	+0.045%	$603K	$624K	20x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2968	−0.099%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0078%	4h	0.2968	−0.101%	$870K	$331K	50x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2967	−0.128%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2974	+0.104%	$912K	$1.2M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2970	−0.034%	$31K	$51K	10x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.2967	−0.135%	$597K	$676K	10x
Hyperliquid JUP	+0.0100%	1h	0.2977	+0.190%	$19.1M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2970	−0.034%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2968	−0.093%	$283K	$184K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2973	+0.062%	$16.5M	$56.6M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2972	+0.034%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2973	+0.067%	$8.0M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2972	+0.034%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	0.000%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2971	0.000%	—	$21.5M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2979	+0.254%	$728K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2978	+0.234%	$1.6M	$4.3M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2975	+0.135%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2973	+0.064%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2962	−0.303%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2975	+0.135%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2978	+0.233%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2968	−0.116%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0224%	1h	0.2971	+0.014%	$2.2M	$542K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.562%	$74K	$95K	50x	as long as short