Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0391%/8h= −42.8% APRpaid last 24h −0.044%

Price spread now: Pacifica against Bybit+0.506%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$510.510% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.246%−$25 on $10k

Price spread, last 4 days (all we have)−0.525%−$53 · spread now +0.506%, 7d avg +0.028%

Together, before fees−0.772%+ Points / potential airdropPacifica: Active · farm board−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.478% dearer against Bybit than usual: you sell high and buy low (spread +0.506% now, against its 7-day average of +0.028%): +$48 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 4.1 days. At the pace of the last 7 days (−0.246% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.246% in total (about -12.8% 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	0.2952	0.0039	pay 0.0019% / 4h	2h 57m	$16.1M	$20.4M	50x
Short	Pacifica JUP	0.2967	−0.0353	pay 0.0044% / 1h	57m 05s	$283K	$147K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.506%Rate

Funding earned: −$82.14
Price spread: +0.506% → +0.028%: $47.77
Slippage, 4 orders: −$32.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$85.39
Costs to cover: 0.510%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Pacifica: live order book, 11 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, 1 min ago	3.37 bp	12.6 bp −$13	37.4 bp −$374	doesn't fit	doesn't fit
Sell Pacifica live order book, 11 min ago	1.66 bp	8.5 bp −$8	doesn't fit	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	−0.4347%	1h	0.2943	−0.312%	$3K	$206K	5.5x	as long as short
Backpack JUP_USDC_PERP	−0.0479%	1h	0.2957	+0.163%	$980K	$234K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0425%	1h	0.2960	+0.257%	$54K	$16K	10x	as long as short
Pacifica JUPshort	−0.0353%	1h	0.2967	+0.506%	$283K	$147K	10x
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2963	+0.382%	$16K	—	100x	as long as short
01 Exchange JUPUSD	−0.0152%	1h	0.2962	+0.342%	$26K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0073%	4h	0.2953	+0.027%	$4.0M	$15.1M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2959	+0.236%	$595K	$523K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2969	+0.586%	$39K	$31K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2963	+0.360%	—	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDTlong	+0.0039%	4h	0.2952	long leg	$16.1M	$20.4M	50x
Reya JUPRUSDPERP	+0.0057%	1h	0.2962	+0.316%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0080%	8h	0.2965	+0.436%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2961	+0.285%	$783K	$1.3M	10x	as long as short
Gate JUP_USDT	+0.0096%	4h	0.2952	−0.007%	$732K	$1.4M	75x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	+0.264%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2963	+0.374%	$610K	$629K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2960	+0.254%	$19.0M	$11.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2966	+0.454%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	+0.196%	$16.3M	$47.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	+0.637%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	+0.196%	$7.7M	$6.8M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	+0.230%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2959	+0.230%	$5.8M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	+0.061%	—	$20.8M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2972	+0.670%	$720K	$768K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2978	+0.885%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2977	+0.840%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	+0.596%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2964	+0.400%	$112K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2957	+0.172%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	+0.044%	$40K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.2982	+0.992%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2962	+0.325%	$74K	$59K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2960	+0.264%	$849K	$365K	50x	as long as short
Phemex JUPUSDT	+0.0470%	4h	0.2959	+0.230%	$2.9M	$3.6M	50x	as long as short