JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0477%/8h= +52.2% APRnext payment +$2.38 per $10,000 · paid last 24h +0.018%

Price spread now: Phemex against Bybit+0.243%7-day average +0.194% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$650.646% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.243%, 7d avg +0.194%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Phemex is 0.049% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.194%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.083% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.38 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JUPUSDT	0.2886	0.0100	pay 0.0050% / 4h	1h 31m	$15.7M	$16.5M	50x
Short	Phemex JUPUSDT	0.2893	0.0577	get 0.0288% / 4h	1h 31m	$2.9M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.243%Rate

Funding earned: $100.1
Price spread: +0.243% → +0.194%: $4.87
Slippage, 4 orders: −$41.58
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: $40.4
Costs to cover: 0.646%
Break-even: 4.2 days

Slippage from Bybit: live order book, 10 min ago; Phemex: live order book, 5 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, 10 min ago	1.71 bp	13.4 bp −$13	36.8 bp −$368	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	3.42 bp	19.1 bp −$19	84.6 bp −$846	doesn't fit	doesn't fit

JUP on 36 exchanges

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
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2905	+0.668%	$16K	—	100x	as long as short
Pacifica JUP	−0.0134%	1h	0.2888	+0.061%	$275K	$134K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2890	+0.125%	$53K	$9K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2890	+0.142%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0040%	1h	0.2884	−0.055%	$26K	$2K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2889	+0.115%	—	—	20x	as long as short
ApeX Omni JUPUSDT	+0.0067%	1h	0.2906	+0.693%	$158K	$234K	50x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2887	+0.035%	$9K	$9K	10x	as long as short
BloFin JUP-USDT	+0.0090%	4h	0.2893	+0.243%	$813K	$363K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2890	+0.135%	$746K	$953K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2887	+0.017%	$566K	$476K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2892	+0.200%	$17.5M	$8.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2889	+0.104%	$97K	$293K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2887	+0.050%	$15.7M	$37.6M	75x	as long as short
Bybit JUPUSDTlong	+0.0100%	4h	0.2886	long leg	$15.7M	$16.5M	50x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2887	+0.035%	$3.9M	$9.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2916	+1.040%	$60K	$439	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2888	+0.069%	$717K	$1.0M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2887	+0.035%	$8.0M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2890	+0.139%	$4.0M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2891	+0.173%	$5.7M	$4.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2888	+0.069%	—	$21.2M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2891	+0.166%	$975K	$238K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2910	+0.823%	$704K	$295K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2921	+1.196%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2891	+0.180%	$91K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2889	+0.104%	$33K	$28K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2885	−0.035%	$109K	$60K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2888	+0.080%	$2.1M	$566K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2889	+0.104%	$39K	—	3x	as long as short
Phoenix JUP	+0.0270%	1h	0.2889	+0.114%	$96K	$269K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2913	+0.946%	$80K	$62K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0537%	1h	0.2892	+0.198%	$570K	$406K	20x	as long as short
Phemex JUPUSDTshort	+0.0577%	4h	0.2893	+0.243%	$2.9M	$2.8M	50x
dYdX JUP-USD	+0.0872%	1h	0.2890	+0.150%	$38K	$10K	5x	as long as short
Injective JUP/USDC PERP	+0.4474%	1h	0.3020	+4.643%	$3K	$205K	5.5x	as long as short